Effective February 2, 2018, Live Oak Banking Company (the "Bank"), a wholly owned subsidiary of Live Oak Bancshares, Inc., eliminated the role of Chief Operating Officer. As a result, Gregory B. Thompson no longer serves as Chief Operating Officer of the Bank.

About LIVE OAK BANCSHARES, INC. (NASDAQ:LOB)

Live Oak Bancshares, Inc. is the bank holding company for Live Oak Banking Company (the Bank). The Bank is a commercial bank and a national online platform for small business lending. The Company provides certain small businesses across the United States a means to access capital. The Company primarily originates loans partially guaranteed by the United States Small Business Administration (SBA) to small businesses and professionals. It offers commercial and industrial loans, construction and development loans, and owner occupied commercial real estate loans for agriculture, death care management, healthcare, independent pharmacies, registered investment advisors and veterinary industry, among others. The Company also offers commercial land loans for agriculture. It owns Live Oak Grove, LLC, which provides company employees and business visitors an on-site restaurant location, and Government Loan Solutions, Inc., a management and technology consulting company, among others.