During recent years when interest rates were at rock-bottom levels, borrowers have kept adjustable-rate mortgages at arm’s length. But now, as interest levels jump, interest in ARMs has increased. “ARMs are becoming a little more popular now. It really depends mainly on the individual’s situation and comfort level,” said Bill Scott, a Wilmington- ...

U.S. Small Business Administration Southeast Regional Administrator Allen Thomas (pictured below) paid a visit to Wilmington earlier this week, meeting with small business partners and touting SBA programs that can – and have – helped companies survive both natural disasters and the economic hardships caused by the COVID-19 pandemic.   “Our profile ...

Live Oak Bancshares, the parent of Live Oak Bank, reported its second-quarter numbers this week, showing a reported net income of about $97 million, or $2.16 per diluted share. That income included a pretax gain of $120.5 million from the sale of Live Oak’s investment in Finxact Inc. earlier this year. “We continue to be optimistic about the future, ...

Wilmington-based Live Oak Ventures, the investment arm of Live Oak Bancshares Inc., on Monday announced an investment in Asset Class, a fintech firm based in Dublin, Ireland. Canapi Ventures led the $11.6 million Series A Funding, the release stated, but officials in Monday's announcement did not go into details about each investor's contribution.  Asset ...

It’s likely that when First National Bank announced it had made a short list of “standout” commercial banks for its commitment to ESG, some had to type “ESG” into their computer search engines, looking for a definition.   But companies operating globally, as well as large U.S. corporations and credit rating agencies, have had environmen ...

An investment by Canapi Ventures is increasing the capacity of a tech startup to serve commercial lenders. Canapi led the recent Series A capital raise by San Francisco-based Able, a 2-year-old company that has built a system to speed up the processing of documents and other data required for commercial loans.   Canapi’s share of the $20 million total was not ...

Perhaps, when Shakespeare wrote, “The course of true love never did run smooth,” he should have substituted the word “cost” for the word “course.” After delaying the wedding of their dreams because of COVID-19 restrictions, many couples – and their families – are discovering that supply chain and labor issues, fueling inflati ...

With better than 50% year-over-year increases in both total revenues and in subscription revenues, nCino officials remain firmly convinced the company will become revenue-positive in 2024.   Speaking at the company’s first-quarter of fiscal year 2023 earnings call Wednesday, nCino CEO Pierre Naudé said the company had experienced a “solid start to ...

When Art and Robin Hill started their Panacea Brewing Co. in 2016, it started as a hobby. The Hills never guessed that just six years later they would have a storefront restaurant in a busy Wilmington shopping center and a flourishing brewing company to go with it. “What we have is definitely not what the plan was,” said Robin Hill. Hill says she and her ...

A federal judge formally dismissed a class-action lawsuit filed against Live Oak and Apiture last week after approving the companies’ settlement agreement with a former employee.  The companies agreed to pay a combined $4.65 million, which will be shared among 1,925 class members to settle their liabilities in the case.  Meanwhile, the case again ...