An upcoming ribbon-cutting event at the Wilmington Chamber of Commerce both celebrates the entry of Customers Bank into the area market and provides an opportunity for the bank to report on its first nine months.   On Monday, the chamber will host an event on its lawn to mark the occasion and give Customers’ local staff an opportunity to thank those who have w ...

Wilmington-headquartered Live Oak Bank could have grown somewhere else, even somewhere outside North Carolina. And bank officials anticipate that Live Oak's reach will do just that. “We have 30 lenders in other towns throughout the United States. And we have an office in Dallas; we have an office in Santa Rosa. We have a presence in Atlanta and Charlotte, a ...

In one of the biggest economic development announcements for the Wilmington area in recent years, Live Oak Bank officials said Wednesday they plan to add 204 jobs over the next five years and invest $25 million in expanding their midtown Wilmington campus, an effort acknowledged by local and state incentives. Gov. Roy Cooper formally shared the state incentive news Wedn ...

nCino’s fortunes and future prospects keep rising, as its report for the second quarter of its 2023 fiscal year demonstrates. In most areas, its numbers for Q2 are better than those for both the same period of FY 22 and for Q1 of this fiscal year, which began Feb. 1.   In a news release and subsequent conference call Wednesday afternoon, nCino officials report ...

Student loans – more precisely, student loan forgiveness – is all over the news these days. After months of rumors, hints and hypotheticals, on Aug. 24 President Joe Biden announced his plan to forgive $10,000 of federal student debt to individuals earning less than $125,000 annually, or to couples earning less than $250,000 annually if they file their tax retu ...

Having established a strong market base in the greater Wilmington area, Corning Credit Union is stretching its footprint across the border into Horry County, South Carolina.   Last March, the New York-based financial institution opened a service center in Surfside Beach, part of the Myrtle Beach market. And this week, CCU officially cuts the ribbon on that location ...

During recent years when interest rates were at rock-bottom levels, borrowers have kept adjustable-rate mortgages at arm’s length. But now, as interest levels jump, interest in ARMs has increased. “ARMs are becoming a little more popular now. It really depends mainly on the individual’s situation and comfort level,” said Bill Scott, a Wilmington- ...

U.S. Small Business Administration Southeast Regional Administrator Allen Thomas (pictured below) paid a visit to Wilmington earlier this week, meeting with small business partners and touting SBA programs that can – and have – helped companies survive both natural disasters and the economic hardships caused by the COVID-19 pandemic.   “Our profile ...

Live Oak Bancshares, the parent of Live Oak Bank, reported its second-quarter numbers this week, showing a reported net income of about $97 million, or $2.16 per diluted share. That income included a pretax gain of $120.5 million from the sale of Live Oak’s investment in Finxact Inc. earlier this year. “We continue to be optimistic about the future, ...

Wilmington-based Live Oak Ventures, the investment arm of Live Oak Bancshares Inc., on Monday announced an investment in Asset Class, a fintech firm based in Dublin, Ireland. Canapi Ventures led the $11.6 million Series A Funding, the release stated, but officials in Monday's announcement did not go into details about each investor's contribution.  Asset ...