A major goal of the U.S. Small Business Administration? To encourage lenders to make more small loans and to include more minority, veteran and woman business owners in that borrower pool. On the face of it, it might seem that getting a small loan – often categorized as one of less than $500,000 – would be easier than aiming to borrow more. Not so, said Bret ...

While still technically not turning a profit from its operations, cloud-based banking software company nCino exceeded analyst expectations in the second quarter of its 2025 fiscal year. The quarter ended July 31, 2024.   The Wilmington-based company reported total revenues of $132.4 million, a 13% increase from the second quarter of 2024. Of that total, $113.9 milli ...

A team of Wilmington-based financial advisers with more than $400 million in client assets is starting its own firm, according to an announcement Friday. The new company, TOVA Wealth Management, is launching in partnership with Sanctuary Wealth, a nationwide firm that provides financial advisers with an independent platform. TOVA's four-person financial advi ...

Financial data analytics firm Lumos Technologies Inc. has secured a new infusion of capital to fuel its next growth spurt.   The Wilmington-based financial technology company announced Wednesday that its newest seed funding round totaled $2 million. The money will be used to “expand market presence and accelerate product development,” according to a news ...

For financial technologies companies like Wilmington-based Apiture, measuring what banking trends currently appeal to different generations is useful. Founded in 2017, Apiture caters to community and regional banks and credit unions and has more than 300 clients who use its digital banking tools, CEO Chris Babcock said. Headquartered in a building on Live Oak Bank&rsquo ...

The UNC Wilmington Blue Economy Index is showing signs of the industry’s resilience after it outperformed many prominent indices in May.   An announcement on June 5 displayed the index’s monthly percent change compared to comparable indices dealing in industrial, large international companies. UNCW’s index rose 10.1%, while the S&P500 rose 3.9% ...

Canapi Ventures, a financial technology-focused venture capital fund based on Live Oak Bank’s campus in Wilmington, has invested about 20% of its latest $750 million Fund II. This fund, as Canapi President Neil Underwood told the Greater Wilmington Business Journal after its launch, is focused on supporting companies that further AI governance, cybersecurity and c ...

In a new partnership announced Monday, Live Oak Bank checking and saving accounts are being embedded in a health care finance application to help medical small business owners, said Live Oak’s Head of Embedded Banking Jake Tupa.   Anatomy Financial is an AI financial solution company based in San Francisco. The software organizes and bundles health care compan ...

nCino issued its first quarterly earnings report of its 2025 fiscal year Wednesday afternoon, beating analysts’ expectations in both revenue and earnings-per-share.   The Wilmington-headquartered cloud-based banking software company reported $128 million in total revenues, about $1.5 million more than Zacks Investment Research’s predicted revenue based o ...

United Bankshares, Inc., the parent company of United Bank, will acquire Atlanta-based Piedmont Bancorp, Inc., the parent company of The Piedmont Bank, officials announced this month.   The deal will expand the bank’s markets to the greater Atlanta area as it reaches across the Southeast and Mid-Atlantic. This is United Bank’s 34th acquisition, according ...