LOB - Live Oak Bancshares Announces Michael J. Cairns to be Named as Chief Credit Officer as Steven J. Smits Will Take New Role as Head of Commercial Banking | Benzinga
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. ...