Live Oak Bancshares in Wilmington, N.C., has a new president.
The $11 billion-asset company said in a press release that BJ Losch had taken over the role, succeeding Neil Underwood. Losch will remain president of Live Oak Bank.
Underwood is stepping down to focus on his role as general partner of Canapi Ventures, a strategic fintech venture fund. He will remain on Live Oak’s board.
Live Oak said that Walter Phifer will succeed Losch as chief financial officer at the end of this year. Phifer is the company’s treasurer and head of finance, planning and analysis.