TSL Express Daily News
The Secured Lender
SFNet's The Deals and Data Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
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July 1, 2024
Source: Business Insider
WILMINGTON, N.C., June 27, 2024 (GLOBE NEWSWIRE) -- Live Oak Bancshares announced today that its Board of Directors has appointed Michael J. Cairns as Chief Credit Officer, effective August 1, 2024. Cairns will serve as CCO for both Live Oak Bancshares and Live Oak Bank and succeeds Steven J. Smits who has served in the position for 9 years. Smits is taking on a new role as head of commercial banking.
“Steve’s work and leadership have contributed greatly to Live Oak’s impeccable credit culture. Michael has been at his side for years, creating the perfect hand off for Steve to help us expand our commercial banking efforts while keeping safety and soundness a priority for the bank,” said James S. (Chip) Mahan II, Chairman and CEO of Live Oak. “Michael will be an exceptional addition to our credit legacy, and we are excited to have him lead the team.”
Cairns previously served as Head of Credit and has been with Live Oak since 2015. He brings deep experience in banking with a career focused on commercial banking roles including credit, lending, and underwriting across small- and middle-market commercial and industrial (C&I), commercial real estate (CRE), and asset-based lending (ABL).
Prior to joining Live Oak, Cairns spent a decade in lending and credit roles at TCF National Bank and Talmer Bank & Trust in his native Michigan.
Cairns holds a Bachelor of Business Administration degree in finance with a specialty in banking and financial services, in addition to a Master of Science degree in finance, from Walsh College in Troy, MI.
“Steve’s incredible leadership and credit philosophy have left an indelible mark on Live Oak, and we are thrilled to have his expertise at the helm as we strategically grow our conventional banking business,” said William C. (BJ) Losch III, President of Live Oak. “Steve is valuable member of our senior leadership team, and this is a wonderful opportunity for him to expand his talents across the franchise.”
Live Oak’s Small Business Banking group will remain dedicated to small business with Mike McGinley remaining at the helm.
About Live Oak Bancshares
Live Oak Bancshares, Inc. (NYSE: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com.
Contact:
Claire Parker | Managing Director, Corporate Communications
910.597.1592
