Once again, nCino’s quarterly results beat analysts’ expectations. The Wilmington-based maker of cloud banking software released the results of its FY 2024 third quarter after markets closed Wednesday.   The company, which is traded on the Nasdaq (NCNO) logged revenues of $121.9 million, a year-over-year increase of 16% from Q2 totals of $105.3 million. ...

Wilmington-based Live Oak Bank, announced Monday that it was the most active lender of SBA 7(a) loans for the sixth consecutive year, according to the U.S. Small Business Administration.   A 7(a) loan is the SBA’s primary business loan program. It can be used by small businesses for refinancing, acquiring or improving real estate buildings and can be short- or ...

Wilmington-based financial technology firm Apiture has new support to stretch and grow thanks to a just-concluded successful capital raise. The $10 million fundraising round was led by funds and accounts advised by T. Rowe Price Investment Management Inc. Others of Apiture’s existing investors participated as well, according to a news release Tuesday. The new infu ...

Live Oak Bancshares, the holding company of Wilmington-based Live Oak Bank, announced the departure of its president and the appointment of a new chief financial officer on Tuesday. Neil Underwood, who serves as general partner and co-founder of Canapi Ventures, a venture capital firm under the Live Oak umbrella, will step down as president of the holding company. Takin ...

A young financial technology company has created a new product to help small business lenders – early in the decision process – assess a borrower’s risk level. The Lumos Business Report, announced recently by Wilmington-based Lumos Technologies Inc., enables lenders to use artificial intelligence resources without becoming AI experts. CEO Brett Caines ...

On Wednesday, Live Oak Bancshares reported a strong third quarter, beating analysts’ expectations in both earnings and revenue. The company announced $127 million in revenue during the quarter, beating expectations by $11 million, according to Seeking Alpha. Earnings per share increased by $0.49 quarter over quarter, with third-quarter earnings of $0.88 ea ...

A credit union that entered the Wilmington area market in 2021 is expanding, this time with a branch in Wilmington itself.   On Friday, Summerville, South Carolina-based REV Federal Credit Union cut the ribbon on its new facility at 3702 S. College Road. This location joins existing ones in Riegelwood and Leland, which REV acquired when it merged with Riegelwood Cre ...

New York-based Rockefeller Capital Management’s wealth management division, Rockefeller Global Family Office, entered the Wilmington market in September by acquiring a Wilmington-based UBS Wealth Management USA firm, Decision Point Wealth Partners. Last month’s acquisition comes from long-standing relationships between members of the Decision Point team and ...

The cost-benefit ratio of insuring some types of residences is becoming less attractive for insurers, leading to higher rates, greater scrutiny and – in some cases, cancelation of policies.  In late September, Nationwide announced it would not renew homeowners’ insurance policies for 10,525 households in North Carolina, over half of them because of hurr ...

Wilmington-based financial technology firm Apiture has been in the news recently for two accomplishments.  In September, the company announced it had formed a partnership with Greenlight Financial Technology Inc., which offers a family finance app. “Through the Greenlight for Banks program, Greenlight’s family finance app is now available with Apitur ...