Banking & Finance

Feb 7, 2019

BB&T, SunTrust Announce $66 Billion Merger

By Vicky Janowski, posted Feb 7, 2019

North Carolina-based BB&T will buy SunTrust in an all-stock deal, creating the sixth-largest bank in the U.S., officials announced Thursday morning.   The combined bank, under a new name, would have about $442 billion in assets, $301 billion in loans and $324 billion in deposits through the merger, which if approved, is valued at $66 billion, according to the an ...

Feb 1, 2019

Lenders Busy Despite Hurdles

By Jenny Callison, posted Feb 1, 2019

Mortgage lenders say they are seeing the last of storm clouds and they predict blue skies ahead in 2019.   Robert Throne, president and owner of Port City Mortgage, expressed his confidence in a brisk new year.   “The market here, it’s always been good,” Throne said.   “Unfortunately, there is not enough inventory. In-demand hou ...

Feb 1, 2019

Growth, Recognition Mark Year's End For NCino

By Jenny Callison, posted Feb 1, 2019

In late 2018, banking software company nCino announced it was named to the Forbes Cloud 100, a ranking of the top 100 private cloud-based companies in the world. The Wilmington enterprise landed at 24. It was one of only three North Carolina businesses to make the list: Bill processor AvidXchange, based in Charlotte, was 42; Raleigh-based communications company Pendo ca ...

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Infinity 891835159

Kyle Thorpe
Infinity Payment Systems

What is EMV and Am I Liable?

Posted Dec 5, 2018
EMV chip technology has been rolling out to consumers and merchants all over the United States. 

As of Oct. 1, 2015, if you have not adopted chip technology, you may be liable for the full amount of the transaction. Understanding how this liability shift affects your business can help protect you from liability exposure.

Scenario entire article

Jan 31, 2019

President Of Wilmington Bank Buys $276,000 In Company Stock

By Jasmin Herrera, posted Jan 31, 2019

The president of Wilmington-based Live Oak Bank has purchased an additional 20,000 shares in the bank. Huntley Garriott purchased 20,000 shares in multiple transactions at prices ranging between $13.53 and $13.92 a share, according to a Form 4 filed with the Securities and Exchange Commission. Garriott, a former partner at Goldman Sachs, joined the bank last year and ...

Jan 24, 2019

Live Oak Bancshares' reported earnings for the fourth quarter of 2018 were down significantly from those of the same period in 2017, according to the company's announcement Wednesday.   Fourth quarter net earnings available to common shareholders were $10.5 million, or $0.26 per diluted share, compared to $71.7 million, or $1.74 per diluted share, for the fo ...

Jan 7, 2019

Live Oak Ventures Invests In KWIPPED

By Johanna Cano, posted Jan 7, 2019

Live Oak Ventures has invested an undisclosed amount in KWIPPED Inc., which will be used by the B2B company to bring in new talent and add suppliers to meet consumer demand. “With their robust fintech expertise, forward-thinking leadership and proven track record for success, Live Oak Ventures is perfectly aligned to support our growth objectives and we are both h ...

Jan 4, 2019

Area Banks Cap Off Year Of Growth

By Jenny Callison, posted Jan 4, 2019

For most financial institutions in the Wilmington market, 2018 was a year of growth.   That growth could be measured in several ways. Among those are increased local market share, greater assets, a larger local footprint, more employees and fatter commercial lending portfolios.   Two area banks grew through mergers that were completed in early 2018. CresCom B ...

Dec 14, 2018

Top Stories No. 6: Live Oak’s Expansion Continues

By Johanna Cano, posted Dec 14, 2018

A new subsidiary, leadership changes and construction were part of Live Oak Bancshares’ year, marking the company’s continued growth and influence in Wilmington’s fintech industry. In February, Live Oak Bancshares launched Canapi Inc., formerly known as Live Oak Ventures. Canapi invests in companies that supply banks and credit unions with innovativ ...

Nov 30, 2018

Live Oak Bank Earns USDA Lending Kudos

By Jenny Callison, posted Nov 30, 2018

Although it has made its name primarily as an SBA lender, Live Oak Bank has expanded into the realm of U.S. Department of Agriculture loans. Success in that niche has earned the Wilmington-based bank a new accolade: It was named 2018 Lender of the Year by the USDA’s Rural Business and Cooperative Service. Live Oak was presented the award Oct. 24 for being the h ...

Nov 30, 2018

Removing More Digital Banking Barriers

By Jenny Callison, posted Nov 30, 2018

Online and mobile banking isn’t convenient if the processes don’t work well. That reality prompted the development of a new component for nCino’s Bank Operating System. The Wilmington financial technology company announced in mid-November the launch of its Enterprise Onboarding solution, which the company terms a “significant enhancement” t ...

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