Lee Williams elected Vice Chairman

Live Oak Bank

Tuesday, May 8, 2012 – Wilmington, NC – At the annual shareholders meeting on Tuesday, May 1st, Lee Williams was elected Vice Chairman of Live Oak Bancshares and Live Oak Banking Company. Williams was one of the founders of the bank, which was formed in 2006. Since then, he has worked there managing customer portfolios and focusing heavily on business development. Prior to starting Live Oak Bank, Williams spent nineteen years in corporate banking at Wachovia and worked fourteen years at Vine Street Financial doing SBA lending. In 1973, he graduated from the University of North Carolina at Chapel Hill with a Bachelor of Science degree in Business Administration.

“I am excited to take on this additional role at Live Oak,” expressed Williams. “When we started this bank in 2006, we had no idea it would become what it has today with seventy-two employees based all across the country. We are diversifying and growing, and I look forward to seeing where the future takes this company.”

“As a personal friend, business partner and one of the founders of Live Oak Bank, I am glad to see Lee Williams join our Board,” commented Chip Mahan, Chief Executive Officer of Live Oak Bank. “I feel that we have a strong group leading and overseeing our company, which makes me feel very optimistic about the future of our business. We are in good hands.”