Like the tree for which it’s named, Live Oak Bank has spent much of its nearly two decades spreading its roots and canopy wide. Recently, however, it’s also sending roots deeper into its Wilmington soil.   The bank’s latest step in cultivating the area market is launching a team of Wilmington-centric commercial bankers who will focus on middle-mark ...

Live Oak Ventures, the investment arm of Wilmington-headquartered Live Oak Bank, recently announced an investment in Sunbound, a technology-enabled finance platform for the senior housing industry. Live Oak Ventures' investment will help “accelerate Sunbound's product development,” according to a news release issued by the company on Dec. 4. Sunbound ...

The arrival of Cincinnati, Ohio-based Fifth Third Bank in Wilmington is the latest in a string of financial institutions that have expanded their footprint into the Port City environs. In early December, the bank held an official opening in its Myrtle Grove location, a remodeled former SunTrust branch. The new location brings to 90 the number of full-service banking cen ...

Reporting its third-quarter earnings on Wednesday, nCino beat analysts’ predictions. Revenue for the quarter came in at $138.8 million compared to the consensus estimate of $137.3 million, according to online financial analyst StreetInsider. The quarter’s earnings per share were 21 cents, 5 cents better than the analyst estimate of 16 cents. For the Wilmi ...

Fifth Third Bank may be new to Wilmington, but it has a long history in the Midwest and ranks 21st on the list of the nation’s largest banks. With its new branch at 5201 College Road, the Cincinnati, Ohio-based bank is entering the Wilmington market. Although it's open for business now, a ribbon cutting on Dec. 4 will officially launch the branch.   Sin ...

Live Oak Bank’s latest spinoff emerged last month with the announcement of its $4.8 million seed round. Synply, a loan syndication platform, is the most recent company incubated inside the Wilmington-headquartered Live Oak Bank and spun off. Company officials credit an atmosphere of innovation and entrepreneurship as a key driver of the bank’s successful spi ...

Wilmington-based financial technology company nCino will acquire FullCircl, a London-based business-to-business, software as a service (SaaS) platform, for $135 million. FullCircl helps financial institutions and other regulated companies “grow revenue, automate and accelerate onboarding, and improve client lifecycle management by removing regulatory and verificat ...

Word rippled quickly through the Wilmington area after popular Indochine restaurant recently filed for Chapter 11 bankruptcy protection. Many customers of Indochine’s main restaurant off Market Street, as well as its four Indochine Express locations and its Café Chinois, wondered whether that meant the eateries were definitely closing for good. Not necessar ...

Several key measures of Live Oak Bancshares’ third-quarter operations show slight improvement over those of the previous quarter. The company, parent of Live Oak Bank, reported its Q3 2024 earnings after the market close on Wednesday.   Total revenue for the quarter ending Sept. 30 was nearly $130 million, a quarter-over-quarter increase of about $4.5 million ...

Synply Inc., a cloud-based loan syndication platform incubated by Live Oak Bank, has announced the completion of a $4.8 million seed round. The capital raise will help fuel the company’s next phase of product growth and development, company officials said in a news release on Monday. Wilmington-based Canapi Ventures and Live Oak Ventures, the investment arm of Liv ...