Two financial institutions have entered the Wilmington market in recent weeks. 

Select Bank & Trust established a branch at 1101 New Pointe Blvd. in Leland. The bank, based in Dunn, purchased the Leland location and one in Morehead City from Yadkin Bank. 

“We see a need for community banks in the market,” said Leland city executive Nicholas Dyer, explaining that Select Bank sees its lending niche as a resource for developers of commercial and residential real estate whose borrowing needs “may not fit in the box” of larger banks’ lending policies.

Select Bank will look at real estate projects ranging from single-family developments to retail strip centers and free-standing businesses such as self-storage facilities.

“That’s the market we’re really trying to attract,” he said, but added that, as a full-service bank, Select offers retail loans as well. 

Established in 2000, Select Bank now has 14 branches, most in eastern North Carolina, and online banking services.

Another newcomer to the local financial scene is Louisiana-based residential mortgage lender Assurance Financial.

For its entry into the North Carolina market, the company has opened an office at 1213 Culbreth Drive, Suite 207, and another location in Southern Pines, according to a news release.  

Pamm Jones serves as the company’s area manager for the North Carolina region. Joining her on the Wilmington office staff are loan officers Dave Starling and Freddy Dunn and loan assistant Jimi Schmitz.

Assurance Financial, headquartered in Baton Rouge, operates in Louisiana, Mississippi, Alabama, Georgia and Ohio – and now in North Carolina. It is an independent banking firm not connected with any other bank or third-party lender, handling underwriting and processing in house, according to the release.