Live Oak Bancshares Announces Appointment of Patrick T. McHenry to Board of Directors

Core Viewpoint - Live Oak Bancshares has appointed Patrick T. McHenry to its board of directors, effective May 21, 2025, which is expected to enhance the company's leadership in serving small businesses [1][2]. Company Overview - Live Oak Bancshares, Inc. is a financial holding company and the parent company of Live Oak Bank, focusing on redefining banking through service and technology partnerships [4]. Leadership Appointment - Patrick T. McHenry brings extensive experience in financial services and public policy, having served 20 years in Congress and as the former Chairman of the House Financial Services Committee [2][3]. - McHenry's expertise includes cryptocurrency, capital formation, AI, fintech, data privacy, and corporate governance, which aligns with Live Oak's mission [2][3]. Strategic Focus - McHenry emphasizes the importance of small businesses in the U.S. economy and appreciates Live Oak Bank's innovative approach to supporting American entrepreneurs [3]. - The company aims to leverage McHenry's background to further its mission of serving small businesses, particularly in North Carolina and nationwide [3].