Banking & Finance

May 25, 2022

Panacea Invests In Canning Line

By Justin Williams Pope, posted May 25, 2022

When Art and Robin Hill started their Panacea Brewing Co. in 2016, it started as a hobby. The Hills never guessed that just six years later they would have a storefront restaurant in a busy Wilmington shopping center and a flourishing brewing company to go with it. “What we have is definitely not what the plan was,” said Robin Hill. Hill says she and her ...

May 16, 2022

A federal judge formally dismissed a class-action lawsuit filed against Live Oak and Apiture last week after approving the companies’ settlement agreement with a former employee.  The companies agreed to pay a combined $4.65 million, which will be shared among 1,925 class members to settle their liabilities in the case.  Meanwhile, the case again ...

May 6, 2022

Fintech Firm Sale Boosts Live Oak Bank

By Jenny Callison, posted May 6, 2022

The income from the recent sale of its interest in financial technology firm Finxact presents a variety of opportunities for Live Oak Bancshares.   The company will realize about $120 million from Fiserv’s acquisition of all Finxact shares; it plans to leverage that capital in key areas, ranging from balance sheet enhancement to community support to strategic ...

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Katie Braskett
MegaCorp Logistics

February 2022 Freight Market Update

Posted Feb 14, 2022

The ongoing "peak-season" continues into 2022 with a 7.7% increase in freight volumes over January and February 2021, and a 56.6% increase over February 2020. Shipping is still so active that the seasonality we were used to has become muted and we remain in one long & entire article
May 6, 2022

Forbes Ranks First National Bank Among World's Best

By Jenny Callison, posted May 6, 2022

First National Bank has earned yet another banking accolade, its parent FNB Corp. announced last month. For a second consecutive year, First National Bank, which operates three locations in the Wilmington market, has been ranked by Forbes as one of the World’s Best Banks.   The 2022 list, based solely on consumer feedback, includes only 75 banks in the U.S. an ...

May 6, 2022

First Carolina Bank Scores Well On Performance

By Jenny Callison, posted May 6, 2022

First Carolina Bank, which operates one full-service office in Wilmington, has landed on the list of the 100 best-performing community banks in the country. The bank, which ranked 31st, is the only North Carolina-based institution on the list.   S&P Global Market Intelligence, which researched and compiled the data, defines community banks as those with less tha ...

Apr 28, 2022

Solid Balance Sheet Boosts Live Oak's Quarterly Dividend

By Jenny Callison, posted Apr 28, 2022

Live Oak Bancshares’ first-quarter earnings report showed better results than some analysts had expected. The company, the parent of Live Oak Bank, reported net income of $34.5 million for Q1 of the company’s 2022 fiscal year. That translates to $0.76 per diluted share. “The beginning of 2022 provided continued indications that the small business marke ...

Apr 14, 2022

North Carolina’s Department of Revenue (DOR) has announced the much-anticipated rollout of a second phase of its Business Recovery Grant Program. Beginning May 2, small businesses may apply for grants from the remaining pool of about $200 million.   The program “will issue a payment to an eligible North Carolina business that suffered an economic loss of ...

Apr 12, 2022

Customers Bank Opens Loan Production Office, Staffs Up

By Jenny Callison, posted Apr 12, 2022

Customers Bank, which entered the Wilmington market last fall, has opened a loan production office in Mayfaire.   The new office is at 6740 Rock Spring Road, Suite 230 in the Mayfaire 4 building. It will focus on commercial lending as well as residential mortgage lending, said Bradley Neigel, Customers Bank regional president for the Carolinas.   Customers Ba ...

Apr 8, 2022

First Carolina Bank Announces Successful $115M Capital Raise

By Jenny Callison, posted Apr 8, 2022

First Carolina Bank just may have set a record. The community bank, which has one location in Wilmington, announced the completion of a capital raise that yielded $115 million before deducting fees and expenses generated by the offering of 4.6 million shares of its common stock.   This amount of investment from private investors in one capital raise is unprecedented ...

Apr 1, 2022

NCino Reports Increased Revenue, Expansion With Wells Fargo

By Jenny Callison, posted Apr 1, 2022

Officials at nCino had plenty of positive news to report Thursday when the company unveiled financial results of its fourth quarter and fiscal year 2022, which ended Jan. 31, 2022.  “With new logos [additional customers], significant expansion deals, continued traction internationally and the completion of the SimpleNexus acquisition, the fourth quarter was a ...

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In The Current Issue

Info Junkie: Aariene Hansley

Aariene Hansley, entrepreneurial academy education coordinator at business development firm Genesis Block, shares her top info and tech pick...

Owners Taking Fermental To New Level

Fermental is one of Wilmington’s more unique watering holes – a bit quirky, but home to many loyal patrons who appreciate its laid-back atmo...

What’s Next For Wilmington East’s $315M Windfall?

Offshore wind, which can generate electricity, represents an untapped economic frontier for the region that has bipartisan support....

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