Banking & Finance

Former Live Oak President Resigns, Involved In Community Bank Startup

By Jenny Callison, posted Nov 26, 2018
Scott Custer
Live Oak Bank's former president will leave the organization at the end of this week. Scott Custer, who serves in a senior position within Live Oak Bancshares, informed Live Oak officials Nov. 19 that he would resign effective Nov. 30. The news was disclosed that same day by Live Oak in a filing with the Securities and Exchange Commission.
Custer joined Live Oak Bank as its president in early April 2017 and continued in that role until Sept. 24 of this year, when Live Oak brought in Huntley Garriott, a Goldman Sachs Investment Division partner, to head the bank.
Custer is involved with a new community bank startup. Last July, a group of banking professionals proposed launching a Raleigh-based community bank, Dogwood State Bank, and stated in a news release that Custer would be the new venture's board chairman. The de novo bank has since won approval from the FDIC to move forward.
Such a central role in a bank startup would draw on Custer's significant experience.
Custer came to Live Oak from F.N.B. Corp., where he served as a director and consultant after the Pittsburgh, Pennsylvania-based bank’s merger with North Carolina-based Yadkin Bank.
He began his banking career with Wachovia, later becoming a commercial banking manager with First Union National Bank. He then served as chairman and CEO of RBC Bank (USA) from 2004 to 2010, a period in which RBC (USA)’s assets grew from $15 billion to $30 billion, and the bank expanded geographically.
In 2010, Custer became a director and CEO of Piedmont Community Bank Holdings Inc. The next year, he became a director and CEO of VantageSouth Bancshares Inc. and VantageSouth Bank, serving in that capacity until the merger of Yadkin, VantageSouth and Piedmont in 2014.

Under Custer’s leadership, Yadkin and its predecessors grew from a start-up bank in 2010 to an institution with assets of approximately $7.5 billion before its merger with F.N.B., according to a company release at that time.
Ico insights


Img 1576c1

What We Think is Unique About Our Firm

Eddie Nowell - South Atlantic Capital Management Group
Leath 683x10242

How to Fire Someone Effectively

Lisa Leath - Leath HR Group
Img 0801

The 3 Most Important Questions Before You Retire

Brett Tushingham - Tushingham Wealth Strategies

Trending News

Entrepreneur Richard Johnson's Latest Project Aims To Boost Burgaw

Johanna Cano - Jun 14, 2019

Nearly Done With The Pearl, Developer Plans 32 More Downtown Apartments

Cece Nunn - Jun 14, 2019

Plastics Molding Manufacturer Gets Its Start In Wilmington

Christina Haley O'Neal - Jun 14, 2019

New Hanover Regional Grows To A $1.2B Operation

Vicky Janowski - Jun 14, 2019

Field Of Vision

Jenny Callison - Jun 14, 2019

In The Current Issue

Providers Keep Close Eye On Measles Issue

With the largest measles outbreak in the U.S. in 25 years, area health providers will continue to promote the need for keeping up-to-date on...

NHRMC Recognized For Patient Experience

New Hanover Regional Medical Center was recognized for its patient experience through the Healthgrades 2019 Outstanding Patient Experience A...

Novant Health Orthopedics & Spine Opens In Supply

Novant Health has opened an orthopedics and spine office in Supply, providing degenerative spine condition services, orthopedic spine surger...

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!



2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`
Transporting the Future - Power Breakfast 3.12.2019
Health Care Heroes 2018