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    NCNO   US63947U1079

NCINO, INC.

(NCNO)
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NCino : Makes Commitment to Food Bank of Central & Eastern North Carolina

09/08/2021 | 07:30am EDT

WILMINGTON, N.C., Sept. 08, 2021 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced its partnership with the Food Bank of Central & Eastern North Carolina in order to help the organization expand its food relief efforts and ensure substantial growth in its nutrition services, food access, and distribution throughout southeastern North Carolina.

“The Food Bank at Wilmington is a valuable partner that provides a critical service for thousands of people in our area who suffer from food insecurity,” said Wilmington Mayor Bill Saffo. “From working families, to seniors on fixed incomes, to children and teens who live at home or are working their way through college, everyone deserves access to nutritious food daily. This new partnership between nCino and the Food Bank of Central & Eastern North Carolina will help expand services and is an important step forward in the fight to end hunger in our region.”

nCino will provide a donation of $1 million dollars total over a five-year period, to support the development of the soon to be named nCino Hunger Solutions Center, the Food Bank’s new facility in Wilmington at 1000 Greenfield Street. Construction of the new facility is a critical step toward bolstering the Food Bank’s capacities to address urgent food insecurity throughout Brunswick, Columbus, New Hanover, and Pender counties in North Carolina. To implement long-term solutions for hunger relief, the new facility also plans to work with community partners to offer comprehensive programing in workforce development opportunities and health education, a community garden, and a teaching kitchen. The Food Bank’s plan is to break ground later in 2021 for a facility that would open in 2022.

“The pandemic has clearly shown that food insecurity is a defined reality for thousands in our community,” added Beth Gaglione, Branch Director at the Food Bank of Central & Eastern North Carolina. “Insufficient space has prevented us from increasing our efforts to nourish more people and build solutions to end hunger. With nCino’s generous partnership and support, we are one huge step closer to bringing our new facility to life and bolstering our ability to help those most in need in our community.”

Since 2002, the Food Bank at Wilmington has provided more than 150 million pounds of food across its service area, an investment valued at nearly $200 million. While the organization distributed nearly 11 million pounds of food last year, the COVID-19 pandemic has had a serious and widespread impact on food access, driving an estimated 35 percent increase in visits to Food Bank partner food pantries. The new facility – approximately 35,000 square feet, or 190% larger than the Food Bank’s current facility – will accommodate distribution of an additional 4.2 million pounds of food annually, a 37 percent increase in overall distribution.

“For decades, the Food Bank at Wilmington has been a pillar of support for this community in the fight against food insecurity, and we’re proud to broaden our partnership to support their important work,” said Zedrick Applin, Program Manager of Diversity, Equity, Inclusion & Community at nCino. “As a company that has been based in Wilmington for nearly a decade, we’re committed to giving back to impactful community institutions and supporting our neighbors throughout the region.”

About the Food Bank of Central & Eastern North Carolina
The Food Bank of Central & Eastern North Carolina is a nonprofit organization that has provided food for people at risk of hunger in 34 counties in central and eastern North Carolina for more than 40 years. The Food Bank serves a network of more than 800 partner agencies such as soup kitchens, food pantries, shelters, and programs for children and adults through warehouses in Durham, Greenville, New Bern, Raleigh, the Sandhills (Southern Pines), and Wilmington. In fiscal year 2020-2021, the Food Bank distributed over 138 million pounds of food (over half of which was perishable) and non-food essentials through these agencies. Sadly, hunger remains a serious problem in central and eastern North Carolina. In these counties, nearly 600,000 people struggle to access nutritious and adequate amounts of food necessary for an active and healthy life. Website available in Spanish and English: foodbankcenc.org.

About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino's single digital platform enhances the employee and client experience to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino works with more than 1,200 financial institutions globally, whose assets range in size from $30 million to more than $2 trillion. For more information, visit: www.ncino.com.

MEDIA CONTACTS
Sutton Resler
+1 571.236.4966
sresler@mww.com 

Ryan Kelly
+1 732.770.5942
ryan.kelly@ncino.com 

Jennifer Caslin
+1 910.508.0547
jcaslin@foodbankcenc.org 


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Source: nCino, Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Sales 2022 264 M - -
Net income 2022 -60,1 M - -
Net cash 2022 372 M - -
P/E ratio 2022 -117x
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David Michael Rudow Chief Financial Officer & Treasurer
Dory Weiss Executive Vice President-Engineering
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