Banking & Finance

Feb 11, 2025

Banking software firm nCino announced the $52.5 million acquisition of another fintech firm, Sandbox Banking. According to a news release, the purchase "strengthens nCino's ability to enhance data connectivity and streamline operations for banks and credit unions through an industry-leading Integration Platform as a Service (iPaaS) solution for a more intellige ...

Feb 3, 2025

NCino Appoints New CEO

By Staff Reports, posted Feb 3, 2025

nCino has a new CEO, the company announced Monday morning. Sean Desmond has been appointed president, CEO and a member of the cloud-based banking software firm's board of directors, effective immediately. Desmond succeeds Pierre Naudé (pictured below at right), who, according to a news release, "will continue to be actively involved in the company as exe ...

Jan 23, 2025

Live Oak Bancshares: Q4 Results Off; Yearly Trends Up

By Jenny Callison, posted Jan 23, 2025

In its fourth-quarter and year-end earnings release this week, Live Oak Bancshares reported a mixed bag of results. Total revenue and earnings per share, along with loan and lease origination, were down from the previous quarter and missed analysts’ targets. Compared with those measures from a year ago, however, the company showed growth in key areas. “Live ...

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Elevating Wilmington: Why a New, Taller Bridge is Essential for Our Progress

Posted Jul 25, 2024
Last week’s celebration was a testament to the power of community and the strength of our collective vision. It was exhilarating to see leaders from both sides of the river and political spectrum come together as the Federal Highway Administrator announced an unprecedented grant of $242 million for the Cape Fear Memorial Bridge replacement thanks to investments from the Bipartisan Infrastruc...read entire article
Jan 17, 2025

United Bank Appoints Wilmington Market President

By Staff Reports, posted Jan 17, 2025

United Bank announced this week the appointment of Andrew Dawson as president of its Wilmington market. Dawson will lead "strategic efforts to drive commercial and retail production while ensuring the profitability and sustained growth of the market," according to a news release. "Dawson will also play a pivotal leadership role in managing public relation ...

Jan 16, 2025

To Increase Local Lending, Live Oak Bank Adds New Team

By Jenny Callison, posted Jan 16, 2025

Like the tree for which it’s named, Live Oak Bank has spent much of its nearly two decades spreading its roots and canopy wide. Recently, however, it’s also sending roots deeper into its Wilmington soil.   The bank’s latest step in cultivating the area market is launching a team of Wilmington-centric commercial bankers who will focus on middle-mark ...

Dec 16, 2024

Live Oak Ventures, the investment arm of Wilmington-headquartered Live Oak Bank, recently announced an investment in Sunbound, a technology-enabled finance platform for the senior housing industry. Live Oak Ventures' investment will help “accelerate Sunbound's product development,” according to a news release issued by the company on Dec. 4. Sunbound ...

Dec 13, 2024

Banks Keep State, Area In Sights

By Jenny Callison, posted Dec 13, 2024

The arrival of Cincinnati, Ohio-based Fifth Third Bank in Wilmington is the latest in a string of financial institutions that have expanded their footprint into the Port City environs. In early December, the bank held an official opening in its Myrtle Grove location, a remodeled former SunTrust branch. The new location brings to 90 the number of full-service banking cen ...

Dec 5, 2024

In Earnings Release, NCino Shares Details Of Successful Q3

By Jenny Callison, posted Dec 5, 2024

Reporting its third-quarter earnings on Wednesday, nCino beat analysts’ predictions. Revenue for the quarter came in at $138.8 million compared to the consensus estimate of $137.3 million, according to online financial analyst StreetInsider. The quarter’s earnings per share were 21 cents, 5 cents better than the analyst estimate of 16 cents. For the Wilmi ...

Nov 19, 2024

Fifth Third Bank Enters The Wilmington Market

By Jenny Callison, posted Nov 19, 2024

Fifth Third Bank may be new to Wilmington, but it has a long history in the Midwest and ranks 21st on the list of the nation’s largest banks. With its new branch at 5201 College Road, the Cincinnati, Ohio-based bank is entering the Wilmington market. Although it's open for business now, a ribbon cutting on Dec. 4 will officially launch the branch.   Sin ...

Nov 15, 2024

Branching Out

By Emma Dill, posted Nov 15, 2024

Live Oak Bank’s latest spinoff emerged last month with the announcement of its $4.8 million seed round. Synply, a loan syndication platform, is the most recent company incubated inside the Wilmington-headquartered Live Oak Bank and spun off. Company officials credit an atmosphere of innovation and entrepreneurship as a key driver of the bank’s successful spi ...

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Coming Soon: Wilmington's Newest Wastewater Treatment Plant

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