Lee held several positions within this group including president and senior SBA lender. In 1992, he re-joined Chip Mahan at Cardinal Bancshares as they began Vine Street Financial, a niche SBA lending division, of Vine Street Trust Company. In 1987, he relocated to Wilmington, NC, where he managed the Wachovia Corporate Lending group for the three-county area of southeastern North Carolina. Lee began his banking career in 1973 at Wachovia, where he worked with Wachovia Services, Inc, then Wachovia Regional Corporate Lending, calling on and lending to mid-market regional companies. Prior to starting Live Oak Bank, Lee spent 19 years in corporate banking at Wachovia and worked for 14 years at Vine Street Financial doing SBA lending. Lee Williams is the vice chairman of the company and one of the original founders of the bank. A native of Miami, FL, he holds a Bachelor of Science in Industrial Engineering from the Georgia Institute of Technology. Previous board or board observer seats include: nCino, Blend, Payrailz and Finxact. Underwood currently serves on the board of Live Oak Bank, Greenlight, Notarize, Defense Storm, Apiture, Asset Class, Posh and Able. In 2017, he co-founded Apiture, a joint venture between Live Oak and First Data, serving as a cloud-native omni-channel onboarding and servicing platform. Through the venture arm of Live Oak, Underwood helped incubate companies focused on digital bank transformation, including Finxact, Payrailz, DefenseStorm and Greenlight. While at the bank, he co-founded nCino (NCNO), a cloud-based bank operating system now serving over 1000 financial institutions globally. Neil Underwood currently serves as President of Live Oak Bancshares (LOB), the holding company of Live Oak Bank and as General Partner and Cofounder of Canapi Ventures, a strategic fintech venture fund. He began his career in 1973 at Wachovia Bank & Trust Co., after graduating with a bachelor’s degree in economics from Washington & Lee University. Chip is also a co-founder of nCino, a cloud-based banking software built on the Salesforce platform.Ĭhip was the CEO and chairman of S1 Corporation and founder of Security First Network Bank, one of the world’s first internet banks. In addition, he is a director for digital payments company Payrailz cloud-based cyber security firm DefenseStorm the American Bankers Association and the University of North Carolina at Wilmington. He also serves on the board of Finxact, the cloud-native core-as-a-service platform founded in part by Mahan and other industry pioneers with deep expertise in financial technology and core banking. Live Oak Bank is the nation’s leading SBA and USDA lender and was selected as the winner of the 2018 BAI Global Innovation Awards in the internal process innovation category for converting all bank operations to the cloud.Ĭhip serves on several fintech and financial services boards including Apiture, a joint venture between Live Oak and First Data, which focuses on creating next-gen technology for financial institutions. Its commercial banking subsidiary, Live Oak Bank, specializes in providing lending and deposit services to small businesses nationwide. He founded and currently serves as CEO and chairman of Live Oak Bancshares, headquartered in Wilmington, NC. Chip Mahan has built his career revolutionizing the banking industry.
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