Print
Banking & Finance

Live Oak Bank Eliminates Role Of Bank Chief Operating Officer

By Olivia Schaber, posted Feb 9, 2018

 Live Oak Bancshares Inc., the bank holding company for Live Oak Banking Co., eliminated the role of chief operating officer at the bank, according to a filing Tuesday with the Securities and Exchange Commission.

Gregory B. Thompson served as chief operating officer of Live Oak Bank since March 2016. The elimination of his role was effective Feb. 2. Live Oak officials didn't have any other comment about the change this week, saying the filing contained everything the company planned to disclose about the matter.

Prior to being chief operating officer, he was the bank’s general manager since October 2015. Before working at Live Oak, Thompson served as the executive vice president of shared services at Square 1 Bank from August 2011 to October 2015.

Live Oak is a commercial bank that primarily offers small business lending. It is one of the top small business administration (SBA) lenders in the country.

The Wilmington-based company also offers commercial and industrial loans, construction and development loans, and owner occupied commercial real estate loans for agriculture, death care management, healthcare and independent pharmacies, among others.

In other news, Live Oak Bancshares announced Friday that it has launched Canapi Inc., formerly known as Live Oak Ventures, "to transform how financial services are delivered to customers," according to a news release. The aim is to create an ecosystem of like-minded firms that focus on digital banking transformation, the release stated.

“Canapi invests in companies that supply banks and credit unions with innovative technology to compete in today’s fast-paced market,” said Canapi Managing Director Neil Underwood, in the release. “Our leadership and partners believe open APIs will revolutionize how banks deliver their services. By integrating fintech solutions, we can make banking easier for customers.”

According to the release, Canapi’s mission is to partner with and invest, alongside industry veterans, in open bank infrastructure companies that deploy on next-generation platforms such as Salesforce, Amazon Web Services (AWS) and Microsoft Azure.

Live Oak is led by James "Chip" Mahan, chief executive officer and founder. Prior to Live Oak, Mahan was the chief executive officer of S1 Corporation and the founder of Security First Network Bank.

Mahan also founded cloud banking software company nCino, which spun out of Live Oak in 2012.

Live Oak was founded in 2008 and holds $1.75 billion in assets.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism. Greater Wilmington Business Journal Assistant Editor Cece Nunn contributed to this report.

Ico insights

INSIGHTS

SPONSORS' CONTENT
Chris coudriet

New Hanover County’s Legislative Priorities Put Residents First

Chris Coudriet - New Hanover County Government
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Please and Thank You Go a Long Way

Diane Durance - UNCW Center for Innovation and Entrepreneurship
Infinity 891835159

What is EMV and Am I Liable?

Kyle Thorpe - Infinity Payment Systems

Trending News

New Bakeries, Including Breadsmith, Coming To Wilmington

Jessica Maurer - Feb 18, 2019

City Council Set To Consider Castle Street Property's Future

Christina Haley O'Neal - Feb 18, 2019

In The Current Issue

Navy Week To Coincide With Azalea Festival

The U.S. Navy is coming to the Port City this spring, coinciding with the N.C. Azalea Festival. Wilmington is among the 14 selected sites –...


Housing Market: When History's For Sale

Homebuyers in the market for a historical dwelling seem to have at least one thing in common: a love of storied structures, big or small....


Food Hall Trend Coming To ILM

Food halls have been popping up throughout the United States, often in downtown cores. Some estimates predict that there could be more than...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Health Care Heroes 2018
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties