Banking & Finance

Mar 27, 2023

The assets and some liabilities of Silicon Valley Bank, which failed March 10, now belong to Raleigh-based First Citizens Bank. Late Sunday, First Citizens emerged as the winner in the FDIC’s competitive bidding process and entered into an agreement with the FDIC. On Monday morning, all 17 branches of Silicon Valley Bridge Bank opened as branches of First Citizens ...

Mar 14, 2023

Local Companies' Stocks Affected By Banking Turbulence

By Jenny Callison, posted Mar 14, 2023

Shares of Wilmington-based Live Oak Bank have been on a roller-coaster ride in the past week due to the failure of Silicon Valley Bank and the market’s reaction.  Live Oak’s stock closed on Wednesday last week at $33.28. As news of Silicon Valley Bank’s troubles began impacting the markets late last week, Live Oak’s shares fell 8.3% Thursday ...

Mar 10, 2023

Silicon Valley Bank Failure’s Impact Felt In Wilmington

By Jenny Callison, posted Mar 10, 2023

Normally, a butterfly flapping its wings in Silicon Valley would not set off flutters in the Wilmington market. But the failure on Friday of a key financial institution there has sent tremors through the banking industry nationwide, with many bank stocks sliding.   Silicon Valley Bank, a lender to some of the biggest names in the technology world, became the second- ...

Ico insights


Mikeharrington carolinaretreats 2

Mike Harrington
Carolina Retreats

Fall Vacation Rentals and Rising Cost of Real Estate

Posted Jun 15, 2022
What we know is that the pandemic has created many “converts” out of guests that would previously have never considered a vacation rental. Because there are many advantages of having a complete living space, whether condo or cottage, that includes a living room and full kitchen, these converts are here to stay. Particularly given the fact that prices are comparable, and oftentimes entire article
Mar 3, 2023

Volunteers Tackle Taxing Challenges

By Jenny Callison, posted Mar 3, 2023

Every year, dozens of individuals in the Cape Fear area undergo many hours of training and then dedicate themselves to multiple weeks of public service: a taxing endeavor, literally and figuratively.  These are tax preparation volunteers, the local members of the IRS’ Volunteer Income Tax Assistance (VITA) program, and they maintain tax-prep centers in New Ha ...

Mar 3, 2023

NCino Adds New AI Platform To Its BOS

By Staff Reports, posted Mar 3, 2023

Wilmington-based fintech firm nCino has announced another partnership, this time with Rich Data Co. (RDC), whose artificial intelligence decision-making platform will be used to “enhance the lending process” for nCino customers.  RDC, founded in 2016, is based in Sydney, Australia. “The combined value delivered by this partnership will equip fi ...

Mar 3, 2023

FNB Offering Programs Aiming To Promote Equality

By Staff Reports, posted Mar 3, 2023

F.N.B. Corp., parent of FNB Bank, has launched three programs designed to expand access to credit in communities of color, the company announced recently. One is the Special Purpose Credit Program (SPCP), which “aims to pro-mote homeownership and economic equality and is available to consumers in majority-minority neighborhoods throughout the FNB footprint,” ...

Feb 16, 2023

DOJ Drops Probe Of NCino's Hiring, Wage Practices

By Jenny Callison, posted Feb 16, 2023

The U.S. Department of Justice's Antitrust Division recently closed an investigation into Wilmington-based nCino’s hiring and wage practices, and is taking no further action. Nor is the DOJ imposing any fines, sanctions or penalties as part of the investigation, officials said.   The review resulted from a lawsuit filed in early 2021 against both nCin ...

Feb 3, 2023

Small businesses seem to be optimistic about their opportunities for growth, even while they view the economy as lackluster.   That’s one of the most striking results of a Voice of the Customer survey of its borrowers Live Oak Bank commissioned this past fall.   “Customers are positive about their financial position, with the majority anticipating ...

Feb 3, 2023

Tech Streamlines Mortgage Industry

By Jenny Callison, posted Feb 3, 2023

Like every other aspect of banking, mortgage lending continues to change as technology streamlines processes and gives would-be borrowers access to more lender options. “The mortgage industry over time has evolved to be more automated,” said Chris Turner, a mortgage originator in Wrightsville Beach for Northpointe Bank. “I have been licensed in several ...

Jan 27, 2023

New Fintech Firm Launches First Product

By Jenny Callison, posted Jan 27, 2023

A new home-grown financial technology company has sprung up in Wilmington.   Lumos Technologies Inc. provides data insights and analytics as a service, with a focus on improving small business access to financing, said Brett Caines, one of Lumos’ three founders.   The fledgling company’s target customer base is made up of financial institutions th ...

Ico insights



Don't Forget the "B"

Hoop Morgan - The Forté Institute, LLC
2022052 75 142344351


Natalie English - Wilmington Chamber of Commerce
Burrus rob headshot 300x300

The ESG “Halo Effect”: Raising the Bar for Public Companies’ Commitment to Environmental and Social Change

Robert Burrus - Cameron School of Business - UNC-Wilmington

In The Current Issue

Brunswick Owners Receive New Tax Values

Brunswick County property owners have received their new tax values as a result of this year’s required revaluation process....

Info Junkie: Hoop Morgan

Book and media recommendations from Info Junkie Hoop Morgan, founder of The Forte Institute....

Southport Brisket By Way Of Texas

Open since April 2014, Southport Smoke House has been introducing guests to owner Troy Knight’s home state of Texas brand of barbecue: beef...

Book On Business

The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



2023 Power Breakfast: Major Developments