Banking & Finance

Apr 8, 2021

Riegelwood FCU Merges With South Carolina Institution

By Jenny Callison, posted Apr 8, 2021

Riegelwood Federal Credit Union, with offices in Leland and Riegelwood (Columbus County), is now part of a larger organization. The National Credit Union Administration (NCUA) recently approved a merger of the financial institution with Charleston, South Carolina-based REV Federal Credit Union. REV has also merged with Hamlet Federal Credit Union, a small financial inst ...

Apr 5, 2021

HQ Expansion At NCino Allows For 600 New Employees

By Cece Nunn, posted Apr 5, 2021

An expansion at the Wilmington headquarters of fintech firm nCino will allow for 600 new employees, according to an announcement Monday. “nCino was founded in Wilmington, N.C., and this city has always been our home,” said Pierre Naudé, CEO of the cloud banking software firm, in an email. “We are proud to continue investing in Wilmington, and ha ...

Apr 2, 2021

Live Oak, NCino Defendants In Lawsuit

By Jenny Callison, posted Apr 2, 2021

It’s official. A former employee of Live Oak Bank and of Apiture LLC – a financial technology joint venture between Live Oak Bancshares and First Data Corp. – has filed suit in the U.S. District Court’s Eastern North Carolina District to contest a nonpoaching employment agreement he alleges exists among Apiture, Live Oak and banking software company ...

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There’s More To Business Than Money: Values-Based Goals

Posted Apr 8, 2021
Successful business owners often want more than just the maximum amount of money they can get. These owners have deeply ingrained values-based goals that guide why and how they do business. But many of those same owners don’t apply an appropriate amount of weight to values-based goals until it’s too late to achieve them.

Some owners neglect their values-based goals becau...read entire article
Apr 2, 2021

PNC Announces Local Branch Consolidation

By Staff Reports, posted Apr 2, 2021

In an era when customers are transacting ever more of their banking business online or through mobile devices, bank branches are rethinking their physical presence in communities.   In January, PNC announced that it would reduce its bricks-and-mortar footprint in Wilmington with a consolidation that becomes effective April 16.   “We constantly evaluate ...

Apr 2, 2021

Truist Rolls Out Blended Branch On Military Cutoff

By Staff Reports, posted Apr 2, 2021

More than a year after the merger of BB&T and SunTrust banks was finalized creating Truist, the combined company is premiering its new blended model locally at the former BB&T location at 1313 Military Cutoff Road.   It’s an initial step toward the eventual meshing of the two large banks and will result in the gradual closing of branches that are in ov ...

Apr 1, 2021

NCino Reports Fourth Quarter, Fiscal Year Results

By Cece Nunn, posted Apr 1, 2021

Banking software firm nCino reported on Wednesday an increase in revenues for the Wilmington-based company’s fourth quarter and fiscal year that ended Jan. 31. Revenues for the fourth quarter were $56.6 million, a 47% increase from $38.5 million in the fourth quarter of fiscal 2020, according to a news release. Meanwhile, total revenues for fiscal year 2021 were $ ...

Mar 25, 2021

nCino has expanded its efforts to enhance the communities within which it operates, and has chosen one of its existing employees to head up the initiative, the Wilmington-based company announced Thursday. Zedrick Applin has been tapped as nCino’s first program manager of diversity, equity, inclusion and community, according to a news release from the company. H ...

Mar 5, 2021

SBA Softens Some Lending Policies

By Jenny Callison, posted Mar 5, 2021

The Small Business Administration has made recent changes to its lending programs that benefit both lenders and their smallest business borrowers. Those changes were part of the consolidated $2.3 trillion federal appropriations package signed into law Dec. 27, which also allocated $284 billion for the SBA’s Paycheck Protection Program (PPP).   “There are ...

Mar 5, 2021

SBA Provides Look At Latest PPP Lending Activity

By Jenny Callison, posted Mar 5, 2021

A news release from the U.S. Small Business Administration on Feb. 22 shared several statistics that, according to the agency, show it is prioritizing the “smallest of small businesses” with its latest round of Paycheck Protection Program loans. The percentage comparisons are with the rounds of PPP funding that took place in the spring and summer of 2020. &nbs ...

Feb 25, 2021

Wilmington-based banking software firm nCino (Nasdaq: NCNO) is under federal investigation, according to a recent SEC filing. The Form 8-K filed with the SEC by the firm Wednesday stated that the company "and certain of its officers and other employees were served with grand jury subpoenas wherein the Antitrust Division of the Department of Justice is seeking ...

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