Live Oak Bancshares appoints BJ Losch President, Walter Phifer CFO; Underwood resigns as President

Live Oak Bancshares, Inc.

Neil Underwood resigned as President of Live Oak Bancshares effective Nov 14, 2023; he remains on the Board.
William (BJ) Losch III appointed President of Live Oak Bancshares; he continues as President of Live Oak Bank and steps down as CFO at year-end.
Walter Phifer appointed CFO of Live Oak Bancshares and Live Oak Bank effective Jan 1, 2024; previously Treasurer and Head of Finance.
Board declared a cash dividend of $0.03 per share, payable Dec 12, 2023 to holders of record Nov 28, 2023.
Leadership changes described as natural evolution; Underwood to focus on Canapi Ventures role.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Neil L. Underwood

President

LOB · Live Oak Bancshares, Inc.

Effective: 2023-11-14
Successor: William J. Losch, III
Filed: November 15, 2023, 6:59 PM ET

On November 14, 2023, Neil L. Underwood, President of Live Oak Bancshares, Inc. (the “Company”), the holding company for Live Oak Banking Company (the “Bank”), resigned from his role as President of the Company.

Appointed

William J. Losch, III

President

LOB · Live Oak Bancshares, Inc.

Effective: 2023-11-14
Filed: November 15, 2023, 6:59 PM ET

Effective November 14, 2023, William J. Losch, III, was appointed as President of the Company.

Appointed

Walter J. Phifer

Chief Financial Officer

LOB · Live Oak Bancshares, Inc.

Effective: 2024-01-01
Filed: November 15, 2023, 6:59 PM ET

On November 14, 2023, the board of directors of the Company and the Bank appointed Walter J. Phifer as Chief Financial Officer of the Company and the Bank, effective January 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Neil L. Underwood resigned as President at Live Oak Bancshares, Inc..

Action: resigned
Role: President

Exact text from the filing

On November 14, 2023, Neil L. Underwood, President of Live Oak Bancshares, Inc. (the “Company”), the holding company for Live Oak Banking Company (the “Bank”), resigned from his role as President of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

William J. Losch, III was appointed as President at Live Oak Bancshares, Inc..

Action: appointed
Role: President

Exact text from the filing

Effective November 14, 2023, William J. Losch, III, was appointed as President of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Walter J. Phifer was appointed as Chief Financial Officer at Live Oak Bancshares, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On November 14, 2023, the board of directors of the Company and the Bank appointed Walter J. Phifer as Chief Financial Officer of the Company and the Bank, effective January 1, 2024.

View on SEC.gov

Live Oak Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001462120-23-000073

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