An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Live Oak Bank to Expand Workforce to Support Its Mission to Be America’s Small Business Bank
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
WILMINGTON, N.C., Sept. 07, 2022 (GLOBE NEWSWIRE) -- Live Oak Bank commits to adding 204 jobs over the next five years and investing $25 million in campus expansions thanks in part to three investment grants given by the State of North Carolina, New Hanover County and the city of Wilmington.
The state and local grants, totaling more than $2 million, are expected to be received over 5 to 12 years.
Live Oak intends to hire employees with an average salary of more than $101,000. Newly created positions will include analysts, underwriters, lending staff, technology managers, information security professionals and other personnel. This creates more than $20 million in annual payroll impact for the region.
“Live Oak Bank is proud to call Wilmington home. With more than 900 employees working toward our mission to be America’s small business bank, we are grateful for the support of local, county and state officials for powerful capital investments that will help grow fintech jobs in our community and bring hundreds of dedicated Live Oakers to our campus,” said Live Oak Chairman and CEO James S. (Chip) Mahan, III.
The investment grants include:
NC Job Development Investment Grant: $1,539,750
New Hanover County Investment Grant: $300,000
City of Wilmington Investment Grant: $200,000
In addition, Live Oak plans to expand its Wilmington campus and break ground on its fourth employee building later this year. Live Oak selected LS3P architects to design the building, along with builders Monteith Construction and Swinerton as the commercial construction companies.
About Live Oak Bancshares Live Oak Bancshares, Inc. (Nasdaq: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com.
Contact: Claire Parker | SVP Corporate Communications Media Relations 910.597.1592
member fdic. the live oak story we started live oak bank in 2007 to provide veterinary business loans to small, independent businesspeople looking to expand, remodel, refinance and/or acquire an existing practice. from the beginning, we took a personal approach and saw our clients not as numbers, but as real people facing real-life opportunities and challenges. we offered big bank expertise and experience without big bank attitudes. it worked - for us as well as our clients - and we expanded our veterinary funding programs to serve the needs of private pharmacies and dental offices. today, live oak has clients across america, but we still see each one as an individual entrepreneur who deserves our undivided attention. we're their bank and we take that responsibility very personally. with this philosophy, live oak is now one of the largest originators of small business loans with one of the strongest loan portfolios in the country. we have extensive experience lending to selected niche
