A non-volatile memory (NVM) structure includes a first memory device including: a first inter-poly dielectric defined by an isolation layer over a first semiconductor layer over an insulator layer (SOI) stack over a bulk semiconductor substrate, a first tunneling insulator defined by the insulator layer, a first floating gate defined by the semiconductor layer of the SOI stack, and a first channel region defined in the bulk semiconductor substrate between a source region and a drain region. The memory device may also include a control gate over the SOI stack, an erase gate over a source region in the bulk substrate, and a bitline contact coupled to a drain region in the bulk substrate. The NVM structure may also include another memory device similar to the first memory device and sharing the source region.