Banking & Finance

Dec 1, 2023

Law Allows Savers To Boost Accounts

By Jenny Callison, posted Dec 1, 2023

If you are age 50 or older, and you have some extra funds this month, you might want to consider playing catch-up with your retirement savings. Catch-up contributions (that’s what they’re called) to your retirement account are covered in the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, signed into law a year ago. “As the name ...

Nov 30, 2023

NCino Reports ‘solid’ Third Quarter Results

By Jenny Callison, posted Nov 30, 2023

Once again, nCino’s quarterly results beat analysts’ expectations. The Wilmington-based maker of cloud banking software released the results of its FY 2024 third quarter after markets closed Wednesday.   The company, which is traded on the Nasdaq (NCNO) logged revenues of $121.9 million, a year-over-year increase of 16% from Q2 totals of $105.3 million. ...

Nov 20, 2023

Live Oak Bank Tops Small Business Lending List, Again

By Audrey Elsberry, posted Nov 20, 2023

Wilmington-based Live Oak Bank, announced Monday that it was the most active lender of SBA 7(a) loans for the sixth consecutive year, according to the U.S. Small Business Administration.   A 7(a) loan is the SBA’s primary business loan program. It can be used by small businesses for refinancing, acquiring or improving real estate buildings and can be short- or ...

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Block Eatz Unlocking Value for Local Food Entrepreneurs and Communities

Posted Aug 25, 2023

According to the Global Entrepreneurship Monitor, there are 31 million entrepreneurs living in the United States which constitutes 16% of the adult workforce. Of those 31 million entrepreneurs, the top industry to see new small businesses in the United States is the Food and Restaurant sector. Over 500,000 new food startups are launched in the United States annually with that number entire article

Nov 15, 2023

Wilmington-based financial technology firm Apiture has new support to stretch and grow thanks to a just-concluded successful capital raise. The $10 million fundraising round was led by funds and accounts advised by T. Rowe Price Investment Management Inc. Others of Apiture’s existing investors participated as well, according to a news release Tuesday. The new infu ...

Nov 15, 2023

Live Oak Bancshares President Steps Down, Firm Appoints New CFO

By Audrey Elsberry, posted Nov 15, 2023

Live Oak Bancshares, the holding company of Wilmington-based Live Oak Bank, announced the departure of its president and the appointment of a new chief financial officer on Tuesday. Neil Underwood, who serves as general partner and co-founder of Canapi Ventures, a venture capital firm under the Live Oak umbrella, will step down as president of the holding company. Takin ...

Nov 3, 2023

A young financial technology company has created a new product to help small business lenders – early in the decision process – assess a borrower’s risk level. The Lumos Business Report, announced recently by Wilmington-based Lumos Technologies Inc., enables lenders to use artificial intelligence resources without becoming AI experts. CEO Brett Caines ...

Oct 26, 2023

On Wednesday, Live Oak Bancshares reported a strong third quarter, beating analysts’ expectations in both earnings and revenue. The company announced $127 million in revenue during the quarter, beating expectations by $11 million, according to Seeking Alpha. Earnings per share increased by $0.49 quarter over quarter, with third-quarter earnings of $0.88 ea ...

Oct 22, 2023

REV Powers Up With New Branch In Wilmington

By Jenny Callison, posted Oct 22, 2023

A credit union that entered the Wilmington area market in 2021 is expanding, this time with a branch in Wilmington itself.   On Friday, Summerville, South Carolina-based REV Federal Credit Union cut the ribbon on its new facility at 3702 S. College Road. This location joins existing ones in Riegelwood and Leland, which REV acquired when it merged with Riegelwood Cre ...

Oct 16, 2023

Wilmington Wealth Management Firm Joins New York Conglomerate

By Audrey Elsberry, posted Oct 16, 2023

New York-based Rockefeller Capital Management’s wealth management division, Rockefeller Global Family Office, entered the Wilmington market in September by acquiring a Wilmington-based UBS Wealth Management USA firm, Decision Point Wealth Partners. Last month’s acquisition comes from long-standing relationships between members of the Decision Point team and ...

Oct 6, 2023

Home Insurance Rates On The Rise

By Jenny Callison, posted Oct 6, 2023

The cost-benefit ratio of insuring some types of residences is becoming less attractive for insurers, leading to higher rates, greater scrutiny and – in some cases, cancelation of policies.  In late September, Nationwide announced it would not renew homeowners’ insurance policies for 10,525 households in North Carolina, over half of them because of hurr ...

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In The Current Issue

Law Allows Savers To Boost Accounts

The Roth-only catch-up provision for higher earners was supposed to take effect in 2024, but lawmakers realized that many workplace retireme...

Ready Money: Seniors Provide Floor For Region's Economy

An economist said many seniors hold sizeable assets that are plowed back into the community for housing, food, health services and other use...

Provider Expands Work With UNCW Athletics

Wilmington Health’s providers have a track record of working with UNCW athletic trainers, including students in the master’s athletic traini...

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