Banking & Finance

Aug 10, 2018

NPF Corp. Acquires Aquesta Insurance

By Jenny Callison, posted Aug 10, 2018

Aquesta Insurance Services, formerly part of Cornelius, North Carolina-based Aquesta Bank, has a new owner.   On July 2, insurance broker NPF announced that it had acquired the insurance entity. Terms were not disclosed.   Based in New York City, NFP Corp. provides employee benefits, property and casualty insurance as well as retirement products.   Aqu ...

Aug 10, 2018

Corning Credit Union Adds Hampstead Location

By Jenny Callison, posted Aug 10, 2018

Corning Credit Union is on the grow again.   In late June, the Corning, New York-based financial institution opened its fifth Wilmington-area location, a lending and membership center in Hampstead. It is located near Lowes Foods in Hampstead Town Center on U.S. 17.   CCU members can visit the center to open deposit accounts, apply for consumer loans, deposit ...

Aug 10, 2018

Apiture Launches Banking Features

By Jenny Callison, posted Aug 10, 2018

Two new banking tools introduced by Wilmington-based Apiture are designed to help banks give customers a better handle on their spending.   The features, My Spending and Spendable Balance, are “based on extensive user research focused on understanding where consumers struggle with money management,” according to a news release from Apiture, which opened ...

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Posted Jun 4, 2018
This Insights article was contributed by Todd M. Hess, partner with Barnwell Whaley Patterson & Helms

Elon Musk, chief executive of Tesla, has recently taken on Warren Buffet, chief executive officer of Berkshire Hathaway, regarding Buffet’s view that he values companies with a “moat,” which includes brand strength the company has relative to its peers...read entire article
Aug 7, 2018

Live Oak Bancshares CEO Buys $1.2M In Stock

By Chris Roush, posted Aug 7, 2018

The CEO of Live Oak Bancshares Inc. bought nearly $1.2 million in company stock last week, according to a filing with the Securities and Exchange Commission. James “Chip” Mahan III bought 40,200 shares of the Wilmington-based company’s stock in two transactions Aug. 1. In one transaction, he bought 600 shares for $29 each. In the other transaction ...

Jul 13, 2018

SBA Pilots Streamlined Disaster Lending Program

By Jenny Callison, posted Jul 13, 2018

With hurricane season officially upon us, the U.S. Small Business Administration has announced the launch of a new quick lending program aimed at helping small business owners recover from disasters.   The SBA’s Express Bridge Loan Pilot Program, authorized by the federal government last fall, is now ready to receive applications. The new lending initiative is ...

Jul 13, 2018

Bank Offers Workplace Financial Wellness

By Jenny Callison, posted Jul 13, 2018

In an interesting twist on its normal business operations, banking software provider nCino has purchased a web-based program from one of its clients – instead of the other way around.   The client is SunTrust Bank, and the program is designed to help nCino employees become more confident about their own financial planning.   Wilmington-based nCino is im ...

Jun 15, 2018

Millennials And Money

By Jenny Callison, posted Jun 15, 2018

The age demographic that now represents the largest percentage of the workforce doesn’t feel confident about its saving and investing habits. That’s the conclusion of PNC Investments’ Millennials & Investing Survey.   Respondents, who were ages 21 to 35 with investable assets of $5,000 or more or those who had a qualified retirement plan and at ...

Jun 15, 2018

Banks Respond To Dodd-Frank Changes

By Jenny Callison, posted Jun 15, 2018

Just how will the much-trumpeted recent changes to the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act affect local financial institutions?   Signed into law by President Donald Trump in late May, the Economic Growth, Regulatory Relief and Consumer Protection Act rolls back regulations on most banks – regulations put in place in response to the ...

May 23, 2018

Live Oak Bank Launches Franchise Restaurant Lending Vertical

By Jenny Callison, posted May 23, 2018

Live Oak Bank is geared up and ready to begin lending in its newest industry: franchise restaurants. In an announcement Tuesday, the bank said that this new lending team, led by general manager Lew Woodbury, will consider loans to franchise operations from quick service and fast-casual to full-service dining, from small-scale franchisees to owners of large networks. &ld ...

May 18, 2018

Aquesta Bank Earnings Sharply On The Rise

By Jenny Callison, posted May 18, 2018

Aquesta Bank Holdings announced that its earnings for the first quarter showed a 53 percent jump from those of the same quarter in 2017. In an announcement April 24, the Cornelius, North Carolina-based company stated that net income for Q1 of 2018 was $702,000 - $.18 per share – compared with net earnings of $460,000 - $.11 per share – a year ago.   &ldq ...

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