In a time when companies of all sizes are taking a close look at the makeup of their workforce and leadership, how are banks – traditionally white and male at the top – doing with this assessment?   In an article published last September, the management consulting firm McKinsey & Co. applauded the growing presence of women in corporate leadership, in ...

Two North Carolina-based banks with locations in the Wilmington market announced a definitive merger agreement Tuesday. First Bancorp, the parent of First Bank, will acquire Select Bancorp, the parent of Select Bank and Trust Co., in an all-stock transaction with a total current value of  $314.3 million, according to a news release. That comes out to slightly ov ...

A North Carolina bank with a local presence will be acquired later this year if the transaction meets with regulatory approval   Aquesta Financial Holdings Inc., parent of Aquesta Bank, has entered into a definitive agreement to be purchased by United Community Banks Inc., United officials announced last week.   Aquesta, based in Cornelius, a fast-growing Cha ...

PNC customers now have more power over their checking accounts.   The bank, which has five branches in the Wilmington market, has announced Low Cash Mode for its customers who use the bank’s digital Virtual Wallet bank account and money management program.   “Low Cash Mode digital offering … is expected to help Virtual Wallet customers avoi ...

Financial technology firm Apiture announced last week that it has partnered with Zelle, putting a popular electronic money-transfer system in the hands of customers of Apiture Xpress platform clients.   “The partnership between Apiture and Zelle enables a streamlined and enhanced experience for Apiture customers,” the Wilmington-based firm’s news r ...

Live Oak Bancshares’ balance sheet for the first quarter of 2021 looks robust. In their comments upon release of the financial data, company officials expressed confidence that the trends will continue.   “It has been a healthy and noisy quarter,” Live Oak’s chairman and CEO James “Chip” Mahan said during the company’s earni ...

Riegelwood Federal Credit Union, with offices in Leland and Riegelwood (Columbus County), is now part of a larger organization. The National Credit Union Administration (NCUA) recently approved a merger of the financial institution with Charleston, South Carolina-based REV Federal Credit Union. REV has also merged with Hamlet Federal Credit Union, a small financial inst ...

An expansion at the Wilmington headquarters of fintech firm nCino will allow for 600 new employees, according to an announcement Monday. “nCino was founded in Wilmington, N.C., and this city has always been our home,” said Pierre Naudé, CEO of the cloud banking software firm, in an email. “We are proud to continue investing in Wilmington, and ha ...

It’s official. A former employee of Live Oak Bank and of Apiture LLC – a financial technology joint venture between Live Oak Bancshares and First Data Corp. – has filed suit in the U.S. District Court’s Eastern North Carolina District to contest a nonpoaching employment agreement he alleges exists among Apiture, Live Oak and banking software company ...

In an era when customers are transacting ever more of their banking business online or through mobile devices, bank branches are rethinking their physical presence in communities.   In January, PNC announced that it would reduce its bricks-and-mortar footprint in Wilmington with a consolidation that becomes effective April 16.   “We constantly evaluate ...