Live Oak Bank is putting down roots in a second location.   While the Wilmington-based bank is adhering to its no-branches business model, earlier this month it hosted a grand opening for its satellite office on the N.C. State University Centennial Campus in Raleigh (at left). The new location houses Live Oak Labs, Live Oak’s technology unit, as well as some c ...

The Wilmington market continued to show steady growth throughout 2019, both in terms of deposits and local banking presence.   Banks in all three of the market’s counties added deposits between fiscal years ending June 30, 2018, and June 30, 2019, according to the FDIC. The 2019 report showed Brunswick County banks’ deposits totaling about $2.3 billion, ...

This year, Wilmington-based nCino raised $80 million, expanded to Japan and announced the launch of nCino IQ, which expands its Banking Operating System with artificial intelligence and machine learning.   nCino and Live Oak Bank, from which nCino spun out, have continued to grow their presence in the financial technology sector.   In October, the banking sof ...

Two banks with significant market presence in Wilmington have officially completed their merger, officials announced Monday. What BB&T Corp. and SunTrust Banks Inc. term a “merger of equals” to create Truist Financial Corp. was finalized Friday.   Truist is the sixth-largest U.S. commercial bank and serves about 10 million consumer households and a f ...

The trend of big tech companies getting into the banking industry has been getting increased attention recently.   In November, Google announced it would begin offering checking accounts to customers, partnering initially with Citigroup Inc. and a small Silicon Valley credit union to run the accounts. Called Cache, the service is scheduled to launch in 2020.   ...

The next six months will be busy ones for First Carolina Bank, as the Rocky Mount-based financial institution prepares to open a full-service branch in the new Bradley Creek Station development on Oleander Drive this June.   “We have lofty goals for Wilmington,” said David Rizzo, the Wilmington market executive. “Wilmington is a very important mark ...

Financial technology and cloud-based banking company nCino announced nCino IQ to expand its Bank Operating System in a press release Thursday. nIQ uses artificial intelligence to help clients increase efficiency and use analytics to enhance customer experience. The AI system incorporates data recognition, insights and digital assistance into its system.&n ...

There has been a subtle shifting of market share within the 21 banks that maintain a presence in the Wilmington area of Brunswick, New Hanover and Pender counties.   Comparing the FDIC’s June 30, 2018, market share reports with the just-released reports that reflect market share as of June 30, 2019, it’s evident that the market share of most banks in the ...

In its first year with a full-service branch in Wilmington, Southern Bank and Trust Co. seems to be making big strides.   The bank, based in Mount Olive, entered the Wilmington market in 2016 when Newbridge Bank veterans Paul McCombie, Leon Pruzan and Lenny Smith opened a loan production office in the Landfall Executive Center. They later moved their operations to a ...

David Rudow has joined Wilmington-based banking software firm nCino as chief financial officer, company officials said Thursday. Rudow comes from CentralSquare Technologies, where he served as senior vice president of finance, and brings nearly two decades of experience in finance and operations to nCino. “Adding David to our team will strengthen our ability to ...