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 ...

More than a year after the merger of BB&T and SunTrust banks was finalized creating Truist, the combined company is premiering its new blended model locally at the former BB&T location at 1313 Military Cutoff Road.   It’s an initial step toward the eventual meshing of the two large banks and will result in the gradual closing of branches that are in ov ...

Banking software firm nCino reported on Wednesday an increase in revenues for the Wilmington-based company’s fourth quarter and fiscal year that ended Jan. 31. Revenues for the fourth quarter were $56.6 million, a 47% increase from $38.5 million in the fourth quarter of fiscal 2020, according to a news release. Meanwhile, total revenues for fiscal year 2021 were $ ...

nCino has expanded its efforts to enhance the communities within which it operates, and has chosen one of its existing employees to head up the initiative, the Wilmington-based company announced Thursday. Zedrick Applin has been tapped as nCino’s first program manager of diversity, equity, inclusion and community, according to a news release from the company. H ...

The Small Business Administration has made recent changes to its lending programs that benefit both lenders and their smallest business borrowers. Those changes were part of the consolidated $2.3 trillion federal appropriations package signed into law Dec. 27, which also allocated $284 billion for the SBA’s Paycheck Protection Program (PPP).   “There are ...

A news release from the U.S. Small Business Administration on Feb. 22 shared several statistics that, according to the agency, show it is prioritizing the “smallest of small businesses” with its latest round of Paycheck Protection Program loans. The percentage comparisons are with the rounds of PPP funding that took place in the spring and summer of 2020. &nbs ...

Wilmington-based banking software firm nCino (Nasdaq: NCNO) is under federal investigation, according to a recent SEC filing. The Form 8-K filed with the SEC by the firm Wednesday stated that the company "and certain of its officers and other employees were served with grand jury subpoenas wherein the Antitrust Division of the Department of Justice is seeking ...