A longtime area banking executive has accepted a new role with a young community bank.   Randy Tomsic, former senior vice president and Wilmington market president for Wells Fargo, is now regional president, Eastern North Carolina, for Raleigh-based Dogwood State Bank. He stepped into his new position Jan. 4.   “It’s refreshing to have a leader wi ...

With the market tumult of 2020 behind us, financial ad­visers are ready to help their clients navigate the possible challenges and opportunities of the new year. Here’s what is top of mind for five local advisers.   Steve Coggins, CIO of Irongate Partners:   “I will spare you the recap, but needless to say 2020 will take several pages in the ...

In mid-December, the U.S. De­partment of Agriculture Rural Department named Live Oak Bank its top 2020 commercial lender. The Wilmington-based bank led the 181 commercial lenders that partnered with the USDA in 2020 to invest a total of $2.1 billion in rural commu­nities and businesses. Live Oak alone made loans totaling $345 million, according to a news release. ...

nCino’s Tokyo-based subsidiary has gotten buy-in – literally – from two Japanese venture capital firms, the Wilmington-based company announced this week. Mitsubishi UFJ Capital Co. Ltd., the venture capital arm of the Mitsubishi UFJ Financial Group, and SMBC Venture Capital Co. Ltd., an affiliate of Sumitomo Mitsui Banking Corp., ha ...

Early this month, Wilmington-based Apiture landed on PitchBook’s list of North Carolina companies that raised the most in venture capital funding in 2020. Apiture’s capital raise of $20 million, completed in July, earned a ranking of 14th in the state from PitchBook, an investment data and research company.   The investments came from funds and accoun ...

No matter the amount of your assets, the key to funding retirement is planning – ideally, starting in the years before you clock off the job, according to David Shucavage, president and investment adviser representative at Carolina Retirement Planners in Wilmington.   “I am shocked at how many people come in with investments but no income plan,” he ...

In the era of coronavirus, banks have had to wean retail custom­ers away from reliance on in-per­son transactions and point them toward the greater use of technology. Bankers say COVID restric­tions hastened the trend in that direction.   “Ultimate­ly, COVID-19 amplified existing behavior changes by forcing the is­sue with closures and rest ...

Live Oak Bank has again landed atop the list of Small Business Administration lenders in the SBA’s 7(a) program. The results for 7(a) lending during the federal fiscal year, which ended Sept. 30, were posted to the SBA website recently. Nationally during the fiscal year, the 7(a) program made about 42,000 loans for a total of nearly $22.6 billion, according to the ...

Several of Live Oak Bancshares’ key metrics were up as of Sept. 30, the end of the company’s third quarter. Net income and earnings per share were higher than those of both the second quarter of 2020 and the third quarter of 2019, company officials reported Wednesday.   The company’s net income for Q3 of 2020 was $33.8 million, up 767% from the net ...

Canapi Ventures has been busy of late with investments to support what it considers strategic new financial technologies. Since mid-August, the firm has contributed to the funding rounds of five financial technology companies – four as the lead or co-lead investor.   Canapi Ventures is a venture capital firm investing in early- to growth-stage fintech com ...