Big things are happening for one of the most forward-thinking leaders in banking. James S. “Chip” Mahan, CEO and Chairman of Live Oak Bancshares, was just featured in Forbes for building what they call America’s top small business bank. From launching one of the world’s first internet banks to now leading the nation’s top SBA and USDA lender, Chip has built his legacy by challenging norms, thinking outside the box, and embracing innovation through technology. 

In the article, Forbes explores how Chip and his team at Live Oak Bank have redefined what it means to be a modern bank. By using technology, streamlining operations, and keeping the focus on empowering small business owners, Live Oak has grown rapidly since its founding in 2008, all while not losing sight of its mission. 

Headquartered in Wilmington, NC, Live Oak Bank operates without branches and specializes in providing lending and deposit services to small businesses nationwide. In 2018, Live Oak was recognized with the BAI Global Innovation Award for fully migrating its operations to the cloud, showing how Live Oak continues to reshape the banking industry.  

Beyond Live Oak, Chip is involved in shaping the future of financial technology. He co-founded nCino, a cloud-based banking platform now used globally, and serves on the boards of Apiture, Finxact, and Payrailz—each helping financial institutions innovate through next-generation digital solutions.

His achievements have not gone unnoticed. His career began at Wachovia Bank & Trust Co. in 1973 after earning his economics degree from Washington & Lee University. Since then, Chip has served as CEO and Chairman of S1 Corporation and founded Security First Network Bank, one of the world’s first online banks. In 2021, Chip was honored with the EY Entrepreneur of the Year Lifetime Achievement Award and was inducted into the Kentucky Entrepreneur Hall of  Fame in 2022

Chip Mahan is proof that you can transform an industry, serve your community, and still stay focused on the people behind the numbers. Congratulations to Chip on this well-earned recognition!

Want to Keep Exploring?

Learn more about Chip’s journey.

Dive deeper into the achievements, ventures, and impact that earned him national recognition. Explore his story here.

Check out the Forbes article. 

Learn more about how Live Oak Bank became a powerhouse in SBA lending and how its tech-first model is setting a new standard.  

Feeling inspired? 

Chip’s story proves that leadership and innovation go hand-in-hand. Know someone else breaking barriers? Nominate them to be recognized!