Banking & Finance

May 23, 2024

Financial Data Startup Expands Access To Tools, Sets Capital Goal

By Audrey Elsberry, posted About 8 hours ago

Wilmington-based financial data startup Lumos Technologies debuted Lumos Launch Pad, a free platform that allows customers to explore the company’s tools, on Tuesday.   Lumos has a financial institution customer base, and the company’s packaging of financial data helps lenders gain insights when adding to their lending portfolios. The Launch Pad is a way ...

May 13, 2024

Truist’s Charlie Mattox Moves To Atlantic Union Bank

By Audrey Elsberry, posted May 13, 2024

Truist’s Wilmington market president of 22 years, Charlie Mattox, will now serve as Virginia-based Atlantic Union Bank's wholesale banking market president, the company announced Monday morning.   Mattox made his decision to leave Truist public in a LinkedIn post last week. He will lead Atlantic Union’s effort to establish a market in Wilmington, Mat ...

May 3, 2024

Live Oak Talks Rate Environment

By Audrey Elsberry, posted May 3, 2024

After a year of interest rate hikes in 2023 put pressure on people’s wallets, many were expecting relief in 2024 as the economy cools. But Federal Reserve Chair Jerome Powell announced in late March that inflation is still too high and “the path forward is uncertain.” Instead of six to seven rate cuts in 2024, an expectation the Fed set in its January ...

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Are You Protected from Employee Theft?

Posted May 1, 2024
Employee theft is the reason for more than 30% of small business bankruptcies, according to the Better Business Bureau. 
 
And that's not even counting the businesses that are stolen from, but don't actually go bankrupt. 
 
How does this happen? 
 
Most small business owners don't know what they don't know, and...read entire article
Apr 25, 2024

Live Oak Bank First-quarter Earnings Miss Analyst Expectations

By Audrey Elsberry, posted Apr 25, 2024

Wilmington-based Live Oak Bank reported its first-quarter earnings for the 2024 fiscal year Wednesday afternoon, followed by a 17% decrease in earnings-per-share, as of press time on Thursday. In its first quarter ending in March, Live Oak officials reported net income of $16.5 million and $0.36 per diluted share. Total revenue, $116 million, was up 14% year-over-y ...

Apr 24, 2024

A Wilmington Wells Fargo Advisors group, Atlas Investment Management, transitioned to an independent entity under the Wells Fargo Advisors Financial Network (FiNet), officials announced early this month. Atlas Investment Management serves an office in Wilmington at 1135 Military Cutoff Road and an office in Greensboro. The group of four advisors and nine associates at A ...

Apr 5, 2024

TD Bank Brings Trend To Leland

By Jenny Callison, posted Apr 5, 2024

Thanks to the growth of online and mobile banking, most financial institutions are slimming down their bricks-and-mortar presence. Not so TD Bank, at least in North Carolina and other locations in the Southeastern U.S. In early March, the New Jersey-based bank opened its third Wilmington-area branch in Leland. That’s part of a trend for the bank. Last May, TD CEO ...

Apr 1, 2024

Wilmington-based financial technology company nCino announced a suite of enhancements to its consumer bank software services on Monday. The company’s product is a cloud-based platform that streamlines back- and front-end processes for commercial, small-business and consumer lending at regional and community banks.  Improved features in nCino’s consum ...

Mar 29, 2024

UNCW Blue Economy Index Goes Live On Bloomberg

By Audrey Elsberry, posted Mar 29, 2024

The University of North Carolina Wilmington Blue Economy Index is live on Bloomberg terminals as of last month, according to Richard Keary, an advisor on the project. The UNCW team that built the index announced the news on LinkedIn Wednesday, after learning from its calculation agent INDXX that the index was posted in February under the ticker BLUEECO. A group of fo ...

Mar 27, 2024

Wilmington financial technology company nCino announced its earnings for the last quarter of its 2024 fiscal year on Tuesday afternoon — the sunny report was followed by an almost 20% spike in the company’s stock price on the Nasdaq (NCNO) at market open Wednesday. The cloud banking software company’s chief executive officer Pierre Naudé called ...

Mar 26, 2024

A Wilmington-based financial technology firm has dug deep into Small Business Administration data to help lenders better assess a potential borrower’s risk factors.   Lumos Technologies Inc. has just published a report showing, county by county across the United States, default rates on SBA loans. This region’s lenders should take heart: the area’s ...

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