Live Oak Bancshares in Wilmington, N.C., has a new bank president.
The $10.8 billion-asset company said in a press release that BJ Losch had succeeded Huntley Garriott. Live Oak did not say why Garriott had left or where he was going.
Losch will remain the company’s chief financial officer. Losch, who had also served as Live Oak’s chief banking officer, previously served as CFO at First Horizon.
“The board and I are beyond excited to see BJ take on this role and lead Live Oak into the future,” Chip Mahan, Live Oak’s chairman and CEO, said in the release.
Losch “has been instrumental in making numerous positive changes to how we operate the business and manage our financial performance, while embracing our strong commitment to employees and customers,” Mahan added.
Garriott had been the bank’s president since 2018.