Chip Mahan, who stepped down from the post of CEO and chairman of Internet banking vendor S1 in October last year, is setting up a new specialist lending business in Wilmington, North Carolina. Live Oak Banking is on track to receive its charter in July
and could open its doors for business within six months. The niche bank will focus on business lending to vets, kennels and children's day care operations.
© Finextra Research 2016