Banking & Finance

Jan 20, 2020

Live Oak Bank Sprouts A Presence In Raleigh

By Jenny Callison, posted Jan 20, 2020

Live Oak Bank is putting down roots in a second location.   While the Wilmington-based bank is adhering to its no-branches business model, earlier this month it hosted a grand opening for its satellite office on the N.C. State University Centennial Campus in Raleigh (at left). The new location houses Live Oak Labs, Live Oak’s technology unit, as well as some c ...

Jan 3, 2020

Local Banks Cash In On Growth

By Jenny Callison, posted Jan 3, 2020

The Wilmington market continued to show steady growth throughout 2019, both in terms of deposits and local banking presence.   Banks in all three of the market’s counties added deposits between fiscal years ending June 30, 2018, and June 30, 2019, according to the FDIC. The 2019 report showed Brunswick County banks’ deposits totaling about $2.3 billion, ...

Dec 20, 2019

Top Stories No. 5: Big Year For Local Fintech Firms

By Johanna Cano, posted Dec 20, 2019

This year, Wilmington-based nCino raised $80 million, expanded to Japan and announced the launch of nCino IQ, which expands its Banking Operating System with artificial intelligence and machine learning.   nCino and Live Oak Bank, from which nCino spun out, have continued to grow their presence in the financial technology sector.   In October, the banking sof ...

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Collaborative Education In An Online Setting

Posted Jan 10, 2020
This Insights article was contributed by Dr. William Sackley, Director of BB&T Center for Global Capitalism and Cameron School of Business Professor of Finance
 
Last summer my colleague, Dr. Adam Jones, Chair of the Department of Economics and Finance, and I finally got serious about a project that we had contemplated for quite a while – the development of an...read entire article
Dec 9, 2019

Local Bank Officials Comment On Creation Of Truist

By Jenny Callison, posted Dec 9, 2019

Two banks with significant market presence in Wilmington have officially completed their merger, officials announced Monday. What BB&T Corp. and SunTrust Banks Inc. term a “merger of equals” to create Truist Financial Corp. was finalized Friday.   Truist is the sixth-largest U.S. commercial bank and serves about 10 million consumer households and a f ...

Dec 6, 2019

Can Tech Giants Break The Bank?

By Jenny Callison, posted Dec 6, 2019

The trend of big tech companies getting into the banking industry has been getting increased attention recently.   In November, Google announced it would begin offering checking accounts to customers, partnering initially with Citigroup Inc. and a small Silicon Valley credit union to run the accounts. Called Cache, the service is scheduled to launch in 2020.   ...

Dec 6, 2019

First Carolina Bank Hires Cameron, Preps For Branch

By Jenny Callison, posted Dec 6, 2019

The next six months will be busy ones for First Carolina Bank, as the Rocky Mount-based financial institution prepares to open a full-service branch in the new Bradley Creek Station development on Oleander Drive this June.   “We have lofty goals for Wilmington,” said David Rizzo, the Wilmington market executive. “Wilmington is a very important mark ...

Nov 14, 2019

NCino Announces New AI Bank Automating System

By Samie Creech, posted Nov 14, 2019

Financial technology and cloud-based banking company nCino announced nCino IQ to expand its Bank Operating System in a press release Thursday. nIQ uses artificial intelligence to help clients increase efficiency and use analytics to enhance customer experience. The AI system incorporates data recognition, insights and digital assistance into its system.&n ...

Nov 1, 2019

Market Share Reports Show Subtle Shifts

By Jenny Callison, posted Nov 1, 2019

There has been a subtle shifting of market share within the 21 banks that maintain a presence in the Wilmington area of Brunswick, New Hanover and Pender counties.   Comparing the FDIC’s June 30, 2018, market share reports with the just-released reports that reflect market share as of June 30, 2019, it’s evident that the market share of most banks in the ...

Nov 1, 2019

Southern Bank And Trust Spreads Its Wings

By Jenny Callison, posted Nov 1, 2019

In its first year with a full-service branch in Wilmington, Southern Bank and Trust Co. seems to be making big strides.   The bank, based in Mount Olive, entered the Wilmington market in 2016 when Newbridge Bank veterans Paul McCombie, Leon Pruzan and Lenny Smith opened a loan production office in the Landfall Executive Center. They later moved their operations to a ...

Oct 31, 2019

New CFO Named At NCino

By Ryan Haar, posted Oct 31, 2019

David Rudow has joined Wilmington-based banking software firm nCino as chief financial officer, company officials said Thursday. Rudow comes from CentralSquare Technologies, where he served as senior vice president of finance, and brings nearly two decades of experience in finance and operations to nCino. “Adding David to our team will strengthen our ability to ...

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