News Details

Wilmington, N.C., July 15, 2025 – Live Oak Bank announced today that it is sending more than 700 local employees across the greater Wilmington area to engage with approximately 1,000 small businesses to offer personalized banking support and resources. The Live Oak Bank Day event aims to show our community that Live Oak loves Wilmington businesses and is the local partner for growth and financial success.

As the only bank headquartered in Wilmington, Live Oak Bank is deeply committed to helping its community thrive in meaningful ways.

Live Oak Bank’s Local Impacts:

• $32 million of grants, donations and investments in local nonprofits and community partners to foster early education, job development and affordable housing
• $40 million of Live Oak Bank Pavilion economic impact annually
• 98 Live Oak Bank Pavilion concerts to date
• 775 Wilmington-based employees actively engaged in the local community

Live Oak Bank, which serves small businesses nationwide, is using its customer-centric approach to support local Wilmington entrepreneurs. While many banks are closing branches and leaving the local market, Live Oak is intentionally offering more services and resources, including a dedicated team, to our hometown businesses community.  

"While we've built our reputation as a leading digital bank, we never forget that banking is fundamentally about relationships," said Live Oak’s Chairman and CEO James S. (Chip) Mahan III. "Live Oak Bank Day embodies our belief that technology should enhance, not replace, the human experience.”

The initiative comes as Live Oak Bank continues to deepen its roots in the Cape Fear region.

"Wilmington is where our story began, and supporting our hometown’s small business community remains at the heart of who we are," said Live Oak Bank President William C. (BJ) Losch III. "We can serve businesses across the country through technology, but we never lose sight of the fact that our success is built on the foundation of our local community. Live Oak Bank Day is our way of staying connected to the entrepreneurs right here at home."

This is the second outreach event Live Oak has done for local entrepreneurs this year. In April, Live Oak employees invited more than 1,000 small business owners to a concert at the Live Oak Bank Pavilion in appreciation for their efforts to strengthen the local economy. In addition, Live Oak hired a team dedicated to commercial banking in January to serve the Cape Fear region.

“This year we are excited to expand Live Oak’s footprint in Wilmington and offer a new approach to relationship-focused banking that others simply can’t match,” said Mahan.

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 www.liveoak.bank.