Banking & Finance

Jul 23, 2021

Live Oak Bancshares officials touted their best quarter ever during their second-quarter earnings report this week.   Live Oak (Nasdaq: LOB) showed net earnings of more than $63.5 million and diluted earnings per share of $1.41 plus more than $1.1 billion in loan and lease originations during the period. After mentioning that one highlight of the quarter ended Ju ...

Jul 16, 2021

Taking Stock Of Ncino, Live Oak

By Jenny Callison, posted Jul 16, 2021

Over the past year, the stock prices of Wilmington’s two public fintech companies have followed opposite trajectories. The price of nCino’s shares since its remarkable debut last July has slumped somewhat, while Live Oak Bancshares’ stock now commands the highest prices in its six-year history on the Nasdaq exchange.   With a market capitalization ...

Jul 2, 2021

Costs Impacting Construction Loans

By Jenny Callison, posted Jul 2, 2021

Are uncertainties in construction materials costs, supply chains and the labor market putting the squeeze on construction loans these days?   “While it’s important to call out that prices have started to come down, material costs and labor challenges have factored into the lending landscape for residential and commercial construction,” said Spence ...

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Genesis Block

You've Graduated From The Accelerator – What's Next

Posted Jun 22, 2021
The Genesis Block Back on the Block Minority Accelerator is designed to provide entrepreneurs and business owners with the knowledge, skills and strategy they need to strengthen their venture. We graduated our first cohort of entrepreneurs (Team Tsunami) in May 2021 and were faced with an Imposing Question... What’s Next?
 
Based on our research and feedback from othe...read entire article
Jul 2, 2021

Apiture Platform Aims To Help Underserved Market

By Staff Reports, posted Jul 2, 2021

Apiture is involved in an effort to provide banking services to reach an underserved market. In February, the Wilmington-based financial technology company announced a partnership with ALTA Banking Services to launch ALTA’s new banking platform and the ALTA Prepaid Mastercard. The new package uses Apiture’s Xpress digital banking platform.   Based in ...

Jul 1, 2021

Live Oak Names New CFO

By Jenny Callison, posted Jul 1, 2021

As Live Oak Bancshares looks to continued diversification of products, services and industries served, it has announced the hiring of a new chief financial officer to oversee the burgeoning company. William C. (BJ) Losch III will become CFO of both the company and its subsidiary, Live Oak Bank, on Sept. 1, according to a news release Wednesday. He will join the com ...

Jun 4, 2021

Calling For Diversity In Financial Services

By Jenny Callison, posted Jun 4, 2021

In a time when companies of all sizes are taking a close look at the makeup of their workforce and leadership, how are banks – traditionally white and male at the top – doing with this assessment?   In an article published last September, the management consulting firm McKinsey & Co. applauded the growing presence of women in corporate leadership, in ...

Jun 2, 2021

Two North Carolina-based banks with locations in the Wilmington market announced a definitive merger agreement Tuesday. First Bancorp, the parent of First Bank, will acquire Select Bancorp, the parent of Select Bank and Trust Co., in an all-stock transaction with a total current value of  $314.3 million, according to a news release. That comes out to slightly ov ...

Jun 1, 2021

A North Carolina bank with a local presence will be acquired later this year if the transaction meets with regulatory approval   Aquesta Financial Holdings Inc., parent of Aquesta Bank, has entered into a definitive agreement to be purchased by United Community Banks Inc., United officials announced last week.   Aquesta, based in Cornelius, a fast-growing Cha ...

May 7, 2021

Digital Alerts Aim To Avoid Overdrafts

By Jenny Callison, posted May 7, 2021

PNC customers now have more power over their checking accounts.   The bank, which has five branches in the Wilmington market, has announced Low Cash Mode for its customers who use the bank’s digital Virtual Wallet bank account and money management program.   “Low Cash Mode digital offering … is expected to help Virtual Wallet customers avoi ...

May 3, 2021

Fintech Company Forms Alliance With Money-transfer Network

By Jenny Callison, posted May 3, 2021

Financial technology firm Apiture announced last week that it has partnered with Zelle, putting a popular electronic money-transfer system in the hands of customers of Apiture Xpress platform clients.   “The partnership between Apiture and Zelle enables a streamlined and enhanced experience for Apiture customers,” the Wilmington-based firm’s news r ...

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