Print
Banking & Finance

Live Oak Bancshares CEO Buys $1.2M In Stock

By Chris Roush, posted Aug 7, 2018

The CEO of Live Oak Bancshares Inc. bought nearly $1.2 million in company stock last week, according to a filing with the Securities and Exchange Commission.

James “Chip” Mahan III bought 40,200 shares of the Wilmington-based company’s stock in two transactions Aug. 1. In one transaction, he bought 600 shares for $29 each. In the other transaction, he purchased 39,600 shares for $29.44 each.

Mahan now owns more than 3 million shares of the company’s stock. That stake is worth nearly $90 million.

Mahan is the founder and chairman of the board of the company. He is also a founding member of Wilmington-based nCino Inc. and serves on nCino’s board of directors.

Prior to Live Oak, he was the chief executive officer and chairman of the board for S1 Corp. and founder of Security First Network Bank, the world’s first internet bank.

Under his leadership, S1 Corp. grew to become a $234 million software and services provider in only six years, averaging more than 200 percent growth year over year. At its peak, S1 had a market capitalization of $7.8 billion.

Prior to founding Security First Network Bank and S1 Corp., he launched Cardinal Bancshares, where he served as chairman and chief executive officer.

Live Oak focuses primarily on providing loans to companies through the U.S. Small Business Administration. It went public in 2015.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism.

Ico insights

INSIGHTS

SPONSORS' CONTENT
Beckybrown 1041811127

Flood Insurance, Even for Non-Flood Zones

Becky Brown - KBT Realty
Geofflosee300x300 10221511305

Got Flood Insurance? Get That Proof of Loss Form in Quickly!

Geoffrey Losee - Rountree Losee LLP
Img 0621

Tax Evasion Versus Tax Avoidance

Karen Durda - Century Accounting and Tax Services, Inc.

Trending News

CloudWyze Gets Its First Government Contract

Johanna Cano - Oct 18, 2018

TRU Colors Included In South By Southwest's Next Lineup

Vicky Janowski - Oct 19, 2018

Insurance Industry Sees A Flood Of Claims

Cece Nunn and Christina Haley O'Neal - Oct 19, 2018

Wilmington Area Home Sales Fell 48 To 63 Percent During Storm Month, Report Shows

Cece Nunn - Oct 19, 2018

Benefits Spring Up In Florence’s Wake

Staff Reports - Oct 19, 2018

In The Current Issue

Insurance Industry Sees A Flood Of Claims

As Ian Archibald awaited the arrival of a State Farm Insurance adjuster at his Wilmington home on Oct. 9, his mind was also on a much more d...


Building, Rebuilding Homes After Hurricane

Homebuilders discuss labor, working with other homebuilders associations in the state and more in the wake of Hurricane Florence....


Cardinal Foods’ Growth Mode

Cardinal Foods LLC has expanded a market and operations for local farmers under the leadership of Corey Barnhill, founder, president and CEO...

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast - Dishing on the Restaurant Biz
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes