Several of Live Oak Bancshares’ key metrics were up as of Sept. 30, the end of the company’s third quarter. Net income and earnings per share were higher than those of both the second quarter of 2020 and the third quarter of 2019, company officials reported Wednesday.   The company’s net income for Q3 of 2020 was $33.8 million, up 767% from the net ...

Canapi Ventures has been busy of late with investments to support what it considers strategic new financial technologies. Since mid-August, the firm has contributed to the funding rounds of five financial technology companies – four as the lead or co-lead investor.   Canapi Ventures is a venture capital firm investing in early- to growth-stage fintech com ...

Wilmington-based nCino Inc. announced the launch of its secondary public offering of 5.5 million shares of stock, according to a news release.  The stock is being sold by certain stockholders of nCino, a banking software firm. The company is not selling any shares and will not receive any proceeds from the offering, officials said in the release. "In add ...

While the New Hanover County Board of Com­missioners’ move toward a sale of New Hanover County Regional Medical Center has re­ceived much public attention, a parallel effort has not.   That effort – laying the groundwork for a community foundation that would invest and manage more than $1 billion from the proposed sale to Novant Health – ha ...

Live Oak Bank has adopted a new, cloud-native core system to run its digital banking ecosystem, according to a recent news release.   The provider of that core, Finxact, is well known to the bank’s parent, Live Oak Bancshares: Investments by its subsidiary have helped Finxact develop and grow.   Live Oak Bancshares Chairman and CEO James “Chip&rdq ...

nCino’s change into a publicly traded company this summer allows greater visibility for nCino around the globe, said Pierre Naudé, CEO of the Wilmington-based banking software firm.  Naudé, CEO of banking software company nCino, shared some details about the company going public during a keynote virtual talk Wednesday morning, kicking off the fi ...

Companies in rural communities have an economic lifeline opportunity they may not know about.   The Rural Relief Small Business Grant from LISC (Local Initiatives Support Corp.) and Lowe's provides one-time grants to businesses and enterprises in rural America that have been affected by COVID-19. LISC defines “rural communities” as having a populatio ...

CEO Pierre Naudé took the helm of Wilmington-based nCino in 2012, steering the banking software firm’s growth from five employees to more than 900 and from a private firm to its debut on the Nasdaq in July.   On its first day of trading, nCino’s stock skyrocketed by more than 150%. nCino, a spinoff of Wilmington’s Live Oak Bank that had $138 ...

nCino marked its first quarter as a public company with reports of increased year-over-year revenues but also saw its operating losses increase. Because nCino’s IPO took place in mid-July of this year, its first quarter on the Nasdaq is the second quarter of 2020, ending July 31. Revenues for the Wilmington-based banking software company during the quarter ended J ...

Small businesses affected by the COVID-19-related economic downturn have much to think about for the remainder of this calendar year. So say several local professionals who work with them.   “For busi­nesses that are not doing well, one of the things they need to keep up with is their income and expenses for the year,” said Tammika Brown, owner of Ta ...