Live Oak Bank Appoints Matthew S. Diffley as Chief Accounting Officer

Live Oak Bank (LOB) appointed Matthew S. Diffley as Chief Accounting Officer, overseeing financial reporting, accounting policy, general ledger operations and SOX compliance.

Rhea-AI Summary

Live Oak Bank (LOB) appointed Matthew S. Diffley as Chief Accounting Officer, overseeing financial reporting, accounting policy, general ledger operations and SOX compliance. Diffley brings 20+ years of finance and accounting leadership at public banking institutions, experience with asset growth from $5 billion to $21 billion, and is a Certified Public Accountant.

Positive

• Appointment of seasoned Chief Accounting Officer with 20+ years banking experience
• New CAO to lead financial reporting, accounting policy and SOX compliance
• Prior role leading Seacoast Banking asset growth from $5B to $21B
• Experience overseeing SEC and regulatory reporting for $500B+ in assets at JPMorganChase

Negative

• None.

Argus Jun 30 session

-0.44% close to close Open Argus

Details

News Market Reaction – LOB

On Jun 30, the first trading day after this news, LOB closed 0.44% below the previous close.

Data tracked by StockTitan Argus for the Jun 30 session.

Key Figures

Leadership experience: more than 20 years Team size: 33-person team Assets at prior bank (start): $5 billion in assets +2 more

Leadership experience

more than 20 years

Finance and accounting leadership at publicly traded banking institutions

Team size

33-person team

Team led as Senior Vice President, Controller at Seacoast Banking Corporation of Florida

Assets at prior bank (start)

$5 billion in assets

Seacoast Banking Corporation of Florida at start of referenced expansion period

Assets at prior bank (end)

$21 billion in assets

Seacoast Banking Corporation of Florida after expansion led by Diffley

Assets overseen at JPMorganChase unit

more than $500 billion in assets

Consumer and Community Banking SEC and regulatory reporting at JPMorganChase

Historical Context

5 past events · Latest: Jun 16

5 events

1. Jun 16

   Project financing news

   24h Move

   +0.8%

   Construction financing role in Delaware community solar projects highlighted.

2. May 27

   Community grant update

   24h Move

   -0.3%

   Impact of $1M workforce training grant and loan outcomes discussed.

3. Apr 22

   Earnings results

   24h Move

   +3.3%

   Q1 2026 earnings with loan, asset and deposit growth reported.

4. Apr 08

   Earnings date notice

   24h Move

   +4.4%

   Announcement of timing for Q1 2026 results and conference call.

5. Mar 31

   Community grant news

   24h Move

   +2.5%

   Details on 2024 grant supporting hospice nurse training program shared.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

sox compliance, sec reporting, general ledger, certified public accountant

4 terms

sox compliance regulatory

"leading the bank’s financial reporting, accounting policy, general ledger operations and SOX compliance"

Sox compliance refers to following rules and standards set to ensure a company's financial information is accurate and trustworthy. It is similar to having strict safety checks to prevent errors or fraud, giving investors confidence that the company's reported financial health is reliable. Meeting these standards helps protect investors and maintain transparency in financial reporting.

sec reporting regulatory

"overseeing SEC and regulatory reporting for Consumer and Community Banking"

SEC reporting is the process by which publicly traded companies regularly share important financial information with the government agency responsible for overseeing the stock market. This information helps investors understand a company's financial health and make informed decisions, much like how a doctor’s check-up provides insight into a person's well-being. Consistent and transparent reporting ensures trust and fairness in the financial markets.

general ledger technical

"leading the bank’s financial reporting, accounting policy, general ledger operations and SOX compliance"

A general ledger is the central record where a company tracks every financial activity—sales, expenses, assets and liabilities—organized into separate accounts like a detailed checkbook for the whole business. Investors use it as the source material behind a company’s financial statements, so its completeness and accuracy affect how reliable earnings, cash flow and balance sheet numbers are. Think of it as the master spreadsheet that auditors and investors inspect to judge a company’s financial health and risk.

certified public accountant financial

"and is a Certified Public Accountant."

A certified public accountant (CPA) is a licensed accounting professional who has passed rigorous exams and met education and experience requirements to prepare, review, and officially certify financial statements and tax filings. For investors, a CPA's involvement is like a neutral referee confirming that a company's reported numbers are accurate and follow accounting rules, which improves trust in financial reports and lowers the risk of unexpected errors or misleading information.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WILMINGTON, N.C., June 29, 2026 (GLOBE NEWSWIRE) -- Live Oak Bank announced today that Matthew S. Diffley has joined as Chief Accounting Officer, leading the bank’s financial reporting, accounting policy, general ledger operations and SOX compliance.

Diffley has spent his career building and modernizing accounting organizations within complex, high-growth banking environments and will serve as a strategic partner to Live Oak’s leadership team.

“We are thrilled to welcome Matt to Live Oak. He brings deep expertise that a high-growth institution like ours demands,” said Walt J. Phifer, Live Oak Bank’s Chief Financial Officer. “We are confident he will be an outstanding partner to our entire leadership team, and our organization, as we continue to build America's small business bank.”

Diffley brings more than 20 years of finance and accounting leadership experience at publicly traded banking institutions, with a proven track record of building high-performing teams, modernizing financial reporting functions, and supporting significant balance sheet growth.

“Live Oak's growth trajectory and commitment to building something truly differentiated in banking is what drew me here. I look forward to partnering with the team to strengthen our accounting function and help support the next chapter of Live Oak's story,” Diffley said.

Diffley joins Live Oak from Seacoast Banking Corporation of Florida, where he served as Senior Vice President, Controller, leading a 33-person team through the bank's expansion from $5 billion in assets to $21 billion. Earlier in his career, he served as Vice President of External Reporting at JPMorganChase, overseeing SEC and regulatory reporting for Consumer and Community Banking with more than $500 billion in assets, and began his career at KPMG.

He received a bachelor’s degree in accounting from Miami University, a master's degree in accounting from The Ohio State University Fisher College of Business and is a Certified Public Accountant.

About Live Oak Bank

Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (NYSE: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit liveoak.bank.

Contact:

Claire Parker | Chief Communications Officer
910.597.1592
claire.parker@liveoak.bank

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is the new Chief Accounting Officer of Live Oak Bank (LOB) in 2026?

Live Oak Bank appointed Matthew S. Diffley as Chief Accounting Officer. According to the company, he will oversee financial reporting, accounting policy, general ledger operations and SOX compliance, bringing more than 20 years of leadership experience at publicly traded banking institutions.

What experience does Matthew S. Diffley bring to Live Oak Bank (LOB)?

Matthew S. Diffley brings over 20 years of finance and accounting leadership. According to Live Oak Bank, he previously led Seacoast Banking’s asset growth from $5 billion to $21 billion and oversaw SEC and regulatory reporting for more than $500 billion in assets at JPMorganChase.

What will Matthew S. Diffley’s role involve as Chief Accounting Officer at Live Oak Bank (LOB)?

As Chief Accounting Officer, Diffley will lead financial reporting, accounting policy and SOX compliance. According to Live Oak Bank, he will also oversee general ledger operations and serve as a strategic partner to the leadership team, supporting the bank’s high-growth strategy.

Why did Live Oak Bank (LOB) appoint a new Chief Accounting Officer in June 2026?

Live Oak Bank appointed Matthew S. Diffley to support its growth as a high‑growth banking institution. According to the company, his background in modernizing accounting organizations and supporting significant balance sheet expansion aligns with Live Oak’s strategy to build America's small business bank.

What is Matthew S. Diffley’s background before joining Live Oak Bank (LOB)?

Before joining Live Oak Bank, Diffley served as Senior Vice President, Controller at Seacoast Banking and Vice President of External Reporting at JPMorganChase. According to the company, he began his career at KPMG and holds bachelor’s and master’s degrees in accounting.

How might Matthew S. Diffley’s appointment impact Live Oak Bank (LOB) investors?

Diffley’s appointment adds experienced leadership over accounting and financial reporting at Live Oak Bank. According to the company, his track record with high-growth banking environments and SOX compliance may strengthen financial controls and reporting quality, factors many investors monitor closely.