B.R. furniture dealer to help direct bank: Thomas H. Olinde, the president and general manager of Olinde’s Furniture, has been named to the board of directors for the parent company of Hancock Bank. Olinde has been a member of the Hancock Bank of Louisiana board since 2006. Hancock officials say Olinde’s business experience and knowledge of the Baton Rouge community will be invaluable to the Mississippi-based bank.
Back to building: Housing construction rose in August to the highest level in nine months as a big surge in apartment building offset a decline in single-family activity. The August performance was another sign that the nation’s housing industry has begun to recover from its worst downturn in decades. The Commerce Department says construction of new homes and apartments rose 1.5% to an annual rate of 598,000 units last month. That is slightly lower than the 600,000-unit pace that economists had forecast. The increase pushed building activity to the highest level since last November and left home construction 24.8% above the record low hit back in April.
