Banking & Finance

Aug 7, 2020

NCino 'on Fire'

By Jenny Callison, posted Aug 7, 2020

When Live Oak executives let nCino leave the nest, could they have known it would skyrocket to such fame and fortune?   “It did not surprise me at all,” said Live Oak Chairman and CEO James “Chip” Mahan soon after nCino’s July 14 IPO on the Nasdaq, during which the stock price soared from $31 to over $90 per share. About 7.8 million sha ...

Aug 7, 2020

First Carolina To Open Local Branch

By Jenny Callison, posted Aug 7, 2020

In just over a week, the Port City is set to see the full-fledged arriv­al of one of its newest communi­ty banks.   First Carolina Bank, which opened a loan production office in the Mayfaire area in mid-2017 and has since expanded into retail banking services from that office, officially opens Aug. 17 at 5815 Oleander Drive, Suite 100.   Based in Rock ...

Aug 7, 2020

Some Of The Latest News On The PPP, Disaster Loan

By Jenny Callison, posted Aug 7, 2020

Two programs offered by the U.S. Small Business Administration in­tended to help keep small businesses afloat during the current economic downturn are seeing changes. One has already ended; the other is ap­proaching an expiration date.   The Economic Injury Disaster Loan (EIDL) Advance program, “provided U.S. small businesses, nonprofits and agricultur ...

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Turning Crisis Into Opportunity

Posted Jul 17, 2020

Executive Summary: this article outlines the results from three sets of interviews conducted by UNCW’s Swain Center for Executive Education and with over 100 leaders on how business and leadership has advanced from 2019 to today, and what leaders can do to turn crisis into opportunity.
 

Prepare for Change
 

In late 201...read entire article

Jul 23, 2020

Live Oak Reports Lower Income, A Leap In Lending, For Q2 2020

By Jenny Callison, posted Jul 23, 2020

Live Oak Bancshares’ net income for the second quarter of 2020 was down about $1.2 million compared with that of the second quarter of 2019, officials reported during the quarterly earnings call Thursday morning. Diluted earnings per share were 9 cents, a decline of 3 cents per share from a year ago. Deposits increased more than $2 billion, from $3.7 billion at th ...

Jul 14, 2020

NCino Stock Soars At IPO

By Jenny Callison, posted Jul 14, 2020

nCino’s status as a unicorn (a private company worth more than $1 billion) went far into the rearview mirror Tuesday as the Wilmington-based, banking software company went public and its shares rocketed more than 150%. After pricing its shares last night at $31 per share, the stock began trading Tuesday around $80. It closed at $91.59, up nearly 200%. About 7 ...

Jul 13, 2020

Wilmington is about to give birth to a public company worth close to $3 billion.   Banking software company nCino, a tech venture spun out of Live Oak Bank nine years ago, announced Monday evening its initial public offering has been priced at $31 per share, another step up from its previous price estimate.   nCino will raise nearly $250 million through the I ...

Jul 13, 2020

NCino Shares Expected To Begin Trading This Week

By Christina Haley O'Neal, posted Jul 13, 2020

Wilmington-based nCino's initial public offering is expected to begin trading this week.  nCino, a provider of cloud-based software for financial institutions, will trade on Nasdaq under “NCNO,” and could potentially raise nearly $254.3 million should its initial public offering go on the stock market as planned this week, according to Nasdaq. Th ...

Jul 13, 2020

In response to what it terms the “unprecedented economic impact” of the COVID-19 virus on small businesses, Wells Fargo Bank is taking action. In April, CEO Charlie Scharf announced the bank would donate all of its Paycheck Protection Program (PPP) processing fees back to nonprofit lenders serving the small business community.     Details em ...

Jul 10, 2020

nCino’s decision to pursue an initial public offering likely positions the banking software company for greater opportunities than would be available to it as a private entity.   So say two observers who have followed the Wilmington-based company’s moves with interest. The most recent was nCino’s SEC filing July 7 disclosing the details of its inte ...

Jul 10, 2020

SBA Administrator Jovita Carranza came to North Carolina on Friday with a message to the state’s small business owners: nearly $130 billion remains in the Paycheck Protection Program to help companies weather the economic challenges of the COVID-19 pandemic, and they have until Aug. 8 to apply for it. She urged business owners to visit the agency’s website, ...

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In The Current Issue

NHRMC Programs Receive Several Accolades

Several New Hanover Regional Medical Center departments and providers recently garnered state and national accolades for their work....


Some Of The Latest News On The PPP, Disaster Loan

Two programs offered by the U.S. Small Business Administration in­tended to help keep small businesses afloat during the current economic do...


NCino 'on Fire'

When the dust cleared on July 14, nCino, which had $138 million in revenue in its most recent fiscal year, was valued at close to $7 billion...

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