Banking & Finance

Jun 2, 2023

Inclusive Small Business Center Works To Build Trust

By Jenny Callison, posted About 2 hours ago

The banking world might be said to operate on the principle Ronald Reagan made famous: “Trust, but verify.” A handshake agreement is often backed up by a ream of financial bona fides from a borrower. But what if trust is lacking on the part of either the lender or the borrower? Lending institutions have a history of being wary of women and minority business ...

Jun 2, 2023

NCino Forges Partnership On Automated Underwriting

By Staff Reports, posted About 2 hours ago

Cloud-based banking software company nCino has formed a strategic partnership with Zest AI, a provider of automated underwriting. Zest AI will integrate its product into nCino’s Consumer Banking Solution, enabling lenders “to help make efficient, accurate decisions about borrower risk,” according to a news release. This ability is important as market a ...

Jun 1, 2023

nCino continued its path to profitability in the first quarter of its 2024 fiscal year. During the quarter, which ended April 30, nCino earned revenues of $113.7 million, a 21% increase from $94.2 million in the first quarter of fiscal 2023. Subscription revenues for the first quarter were $97.3 million, up from $79.2 million one year ago, an increase of 23%. The quarte ...

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With more of us working from home than ever, it’s no surprise the average American spends 90 percent of their time indoors.  And considering the EPA has stated that indoor air can be two to five times more polluted than outdoor air, the subject of how to improve indoor air quality has never been more relevant. 

Lately, one of the most important topics I’ve hear...read entire article
May 5, 2023

Bill Aims To Ease Credit Union Rules

By Jenny Callison, posted May 5, 2023

In late April, the N.C. House passed House Bill 410, legislation that would relax restrictions for credit unions in the state with regard to membership, geographic boundaries and even investments. The bill now goes to the Senate, where observers expect it to run into some opposition. The bill, sponsored by Rep. Julie Howard (R-Davie) and House Majority Leader John Bell ...

Apr 27, 2023

Like many banking companies across the U.S., Wilmington-based Live Oak Bancshares experienced some stormy weather during the first quarter of 2023. The difficulties of navigating through a landscape marked by two bank failures and a subsequent loss of public confidence in the industry were reflected in some officials’ comments Wednesday as the company announced it ...

Apr 7, 2023

First Citizens Makes $16.5B Play

By Jenny Callison, posted Apr 7, 2023

While the Wilmington area’s 13 First Citizens branches don’t look any bigger, the bank they represent is emerging from its acquisition of Silicon Valley Bank holdings with a lot more muscle and reach.   “We have ample liquidity and capital in this marketplace, and we are working with the FDIC and we both agree we have the strength and stability to ...

Apr 5, 2023

Tech Firm Expands Loan Products

By Jenny Callison, posted Apr 5, 2023

A Wilmington-based financial technology firm has announced the expansion of its subscription-based digital consumer loan products.  NewLine.ai has added home equity and home equity line of credit software to its portfolio, client services manager Jason Marone said recently.  NewLine.ai has been around for about seven years, but its focus has changed signifi ...

Mar 29, 2023

Many financial indicators of nCino’s operations have been up, according to the company’s fourth-quarter and year-end earnings report Tuesday. Those indicators include expenses as well as income. “We are pleased that in Q4, we once again exceeded expectations,” nCino’s chairman and CEO Pierre Naudé said during the earnings call Tuesda ...

Mar 27, 2023

The assets and some liabilities of Silicon Valley Bank, which failed March 10, now belong to Raleigh-based First Citizens Bank. Late Sunday, First Citizens emerged as the winner in the FDIC’s competitive bidding process and entered into an agreement with the FDIC. On Monday morning, all 17 branches of Silicon Valley Bridge Bank opened as branches of First Citizens ...

Mar 14, 2023

Local Companies' Stocks Affected By Banking Turbulence

By Jenny Callison, posted Mar 14, 2023

Shares of Wilmington-based Live Oak Bank have been on a roller-coaster ride in the past week due to the failure of Silicon Valley Bank and the market’s reaction.  Live Oak’s stock closed on Wednesday last week at $33.28. As news of Silicon Valley Bank’s troubles began impacting the markets late last week, Live Oak’s shares fell 8.3% Thursday ...

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In The Current Issue

NCino Forges Partnership On Automated Underwriting

Zest AI will integrate its product into nCino’s Consumer Banking Solution, enabling lenders “to help make efficient, accurate decisions abou...


Inclusive Small Business Center Works To Build Trust

To change minds and change the experience, “It’s all about building trust,” said Chakema Clinton-Quintana, Channel’s director....


Generator Demand Powers Up For Season

Local generator sales experts take stock of the market...

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