Banking & Finance

Jan 27, 2023

New Fintech Firm Launches First Product

By Jenny Callison, posted Jan 27, 2023

A new home-grown financial technology company has sprung up in Wilmington.   Lumos Technologies Inc. provides data insights and analytics as a service, with a focus on improving small business access to financing, said Brett Caines, one of Lumos’ three founders.   The fledgling company’s target customer base is made up of financial institutions th ...

Jan 26, 2023

Several of Live Oak Bancshares’ key indicators slid during the fourth quarter of its recently ended fiscal year, but overall, the company showed growth across the board during its 2022 fiscal year, which ended Dec. 31, 2022. That’s according to Live Oak’s earnings report released Wednesday.   The company, parent of Live Oak Bank, saw its total four ...

Jan 18, 2023

NCino Lays Off 7% Of Workforce

By Johanna F. Still, posted Jan 18, 2023

Fintech firm nCino has announced a 7% reduction in its workforce, with plans to trim nearly 120 employees from its roster.  Headquartered in Wilmington, the software-as-a-service firm has about 1,700 employees among its nine locations across the globe.  CEO Pierre Naudé informed the workforce of the executive leadership team’s decision Wednesda ...

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Genesis Block Aims to Connect Minority Owned Firms to $2.5 Million in Contracts in 2023

Posted Jan 4, 2023
Genesis Block is preparing for an exciting 2023 by announcing a company goal to broker $2.5 million in contracting opportunities for minority owned firms. The average minority business enterprise spending (when spending with public companies is included) is 3.29%. This average must increase 4–5 times current levels to between 13%-16% to achieve revenue parity with white owned firms. In 2018, m...read entire article
Jan 6, 2023

Banking Industry Watchers Predict 2023 Trends

By Jenny Callison, posted Jan 6, 2023

Bankers and financial advisers may have slightly different perspectives on what 2023 may bring, but taken together, they paint a diverse picture of what could happen with money matters in the new year.   As we enter the new year, banks are adjusting to the historically rapid rise in the Federal Reserve’s key interest rate, said Peter Gwaltney, president and CE ...

Dec 12, 2022

Local Office Of Accounting Firm Acquired

By Johanna F. Still, posted Dec 12, 2022

Earlier this month, PBMares LLP officially acquired RSM US LLP’s local Wilmington accounting office.  With a staff of 30, including 13 certified public accountants, the firm is the second-largest in the Wilmington region, according to recent Greater Wilmington Business Journal survey results.  The Wilmington office is PBMares’ 13th overall and t ...

Dec 2, 2022

Live Oak Bancshares Announces Upcoming Switch To NYSE

By Jenny Callison, posted Dec 2, 2022

Live Oak Bancshares, parent of Wilmington-based Live Oak Bank, announced Friday morning that it is changing its stock trading partner. The company, which has traded its voting common stock on the Nasdaq since it went public in July 2015, will transfer the listing of that stock to the New York Stock Exchange beginning Dec. 14 of this year. Live Oak Bancshares wil ...

Dec 2, 2022

FNB, UB Bancorp's Local Impacts

By Jenny Callison, posted Dec 2, 2022

In June, Pittsburgh, Pennsylvania-based F.N.B. Corp., with three First National Bank (FNB) branches in the Wilmington market, announced the signing of a merger agreement with UB Bancorp.    UB, headquartered in Greenville, North Carolina, has one Wilmington location of its subsidiary, Union Bank. At the time, FNB officials stated an expected end-of-year complet ...

Dec 1, 2022

nCino touted its growing revenues during the company’s third-quarter earnings call Wednesday afternoon. Company Chairman and CEO Pierre Naudé noted that nCino, the cloud-based digital systems provider for the financial industry, generated $105.3 million in total revenues for the third quarter of FY 23, which ended Oct. 31. This amount represented a 50% incr ...

Nov 18, 2022

Evidence of nCino’s growth was on full display Thursday as the banking software company cut the ribbon on its newest office building in the Mayfaire office park. nCino 2, as it’s called, boasts 90,000 square feet of office space and contains conference rooms, cubicles, offices for business visitors, a kitchen and a “stairtorium,” an amphitheater- ...

Nov 4, 2022

Money Matters As Year's End Approaches

By Jenny Callison, posted Nov 4, 2022

The end of 2022 is approaching, as holiday displays and – perhaps – reminders from accountants and other tax professionals make all too clear. This month, three financial advisers offer their perspectives on money matters for the remainder of the year.   Scott Winslow, Managing Partner, Nabell Winslow Wealth Management   “In financial planni ...

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