Live Oak Bancshares (NYSE: LOB) reported its third-quarter earnings Wednesday, logging higher revenue but missing analysts’ earnings-per-share expectations, as the Wilmington-based lender recorded a $17 million expense to cover expected losses on loans to distillery businesses. The company reported total revenue of $175.65 million, up 12.5% from $156.1 millio ...

Chase Bank held a grand opening event Wednesday at its Hampstead branch – the first of four planned locations to open in the Wilmington market. The bank plans to open additional branch locations in Calabash, the Mayfaire area and Ogden during the first and second quarters of 2027, said Joseph Kim, a Chase market director overseeing the Wilmington and Myrtle Beach ...

Wilmington-based nCino Inc. (Nasdaq: NCNO) reported its financial results this week for the second quarter of fiscal year 2027, which ended July 31. Its total revenues for the quarter were $161 million, an 8% increase from $148.8 million in the second quarter of fiscal year 2026. Subscription revenues were also up for fiscal 2027 Q2, coming in 10% higher at $143.5 milli ...

A state law that went into effect July 2 allows financial institutions to put transactions on pause for 30 business days if financial exploitation of an elderly or disabled person is suspected. With billions in losses reported each year nationally, “financial scamming is an enormous industry. Scammers literally go to work every single day to separate people from t ...

A Charlotte-area independent public accounting firm is opening a Wilmington office in September. According to a news release, the new office of Fisher, P.A. will occupy the firm’s new 10,000-square-foot professional flex office building at 2700 Old Wrightsboro Road, Suite 140, in Wilmington. Fisher officials anticipate creating 10 to 15 new jobs ...

Live Oak Bancshares topped Wall Street expectations in the second quarter, fueled by strong loan production and deposit growth, the Wilmington-based lender announced Wednesday. Live Oak exceeded analysts' consensus revenue estimate by about $3.7 million and beat earnings-per-share expectations by 10 cents, according to Zacks Equity Research.  The company als ...

More than 6,000 commercial banking locations across the United States closed in the past five years, the Wall Street Journal reported in January. But banks such as JPMorgan Chase are bucking the trend. In February, the lender announced it would be opening more than 160 branches in 30 states this year alone. That includes multiple locations in the Wilmington area. Pet ...

Wilmington-based nCino held an earnings call for the first quarter of fiscal year 2027, reporting revenue growth above expectations set in March.  According to Sean Desmond, nCino's CEO and president, the company outperformed guidance across all key metrics, including subscription revenue growth and non-GAAP operating margin.  The cl ...

Southern Bank, the Mount Olive-based community bank that opened a loan production office in Wilmington in 2016, recently announced leadership changes. Paul McCombie, who has led the bank’s Wilmington team for a decade, is moving into the role of regional executive, overseeing both Wilmington and Raleigh. “Paul brings considerable market expertise and lead ...

Live Oak Bank has terminated a state incentive agreement that would have paid the company $1.5 million for hitting specific investment and hiring targets. North Carolina’s Economic Investment Committee approved the termination of Live Oak’s $1.5 million Job Development Investment Grant (JDIG) on Tuesday. Under the grant, which was awarded in 2022, the compan ...