The signs are up, the systems are updated, and the staffers have most­ly mastered the Bank of the Ozarks’ new name.      The transition of the Arkan­sas-based bank to its new moniker, Bank OZK, has gone well, according to Ryan Tanner, the bank’s Wilming­ton market president.      “We were official [as Bank OZK ...

While North Carolina business people are slightly less optimistic about the economy this fall, their outlook is still more positive than it was a year ago, according to PNC Bank’s semiannual survey of small and middle-market business owners and executives in the state.   “Historic optimism about the national economy from spring (48 percent) chilled sligh ...

What do the latest data from the FDIC tell us about banking in the Wilmington market?   The FDIC’s yearly report, re­leased last month, showing bank deposits and market share as of June 30, 2018, points to sev­eral changes in the local finan­cial landscape since the June 30, 2017 report was issued. For one thing, the Wilmington market shed two ret ...

Huntley Garriott, Live Oak Bank's new president, this week talked to UNCW students about his experience working at Goldman Sachs Group Inc. and what the future of banking might look like. The lecture was part of the 2018-19 Chancellor’s Distinguished Lecture Series at the University of North Carolina Wilmington on Thursday. Chip Mahan, Live Oak chairman and CE ...

An investment from SunTrust Bank will enable Wilmington-based Apiture to accelerate work on an open application program interface (API) platform, spurring growth for its customers and itself.   In the announcement about the investment, Apiture did not disclose the amount. But in comments during a recent quarterly earnings call, Live Oak Bancshares Chairman and CEO J ...

Live Oak Bancshares Inc., reported third-quarter earnings below analyst expectations. The company was trading at $19.27 on Thursday, down 4.8 percent. The Wilmington-based company reported net income of $14.3 million, or 34 cents per share, up from net income of $12.9 million, or 33 cents per share in the same quarter a year ago. The results did not match analysts ...

Wilmington business owner Shannon Hodge didn't have the means to recover from Hurricane Florence on her own. "I don't have the resources," Hodge, owner of the College of Wilmington, explained Wednesday morning to Linda McMahon, administrator of the Small Business Administration and a member of President Donald Trump's Cabinet. McMahon, a native ...

Homeowners whose residence suffered damage from Hurricane Florence can apply for a special kind of SBA loan to make repairs to or replace damaged property, an official with the U.S. Small Business Administration said Friday.   "We are a direct lender, different from the regular SBA, which makes guaranteed loans through approved lenders," James Rivera, asso ...

Fraud is a serious issue for financial institutions, and it’s top of mind for American Banker magazine. The publication is offering a webinar on the subject, saying in its pitch, “Lending institutions of different sizes face ongoing threats from account origination and takeover fraud, and this risk may be increasing. According to a recent study of industry prof ...

In the aftermath of Hurricane Florence, the U.S. Small Business Administration (SBA) is offering several programs to help small businesses and farmers recover from storm-related impacts.   SBA disaster assistance business loans offer businesses and private non-profit organizations up to $2 million to repair or replace disaster-damaged or -destroyed real estate, mach ...