The upgrade means the stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength. United Community Banks has now climbed above a proper buy zone after breaking out from a 22.09 entry in a cup with handle. United Community Banks holds the No. 9 rank among its peers in the Banks-Southeast industry group.
WILMINGTON, N.C., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Live Oak Bancshares announced today the appointment of David G. Lucht to its board of directors effective immediately. Lucht has also been appointed to the board of directors of Live Oak Bank. “David has been part of the heart and soul of Live Oak since its earliest days,” said Live Oak Chairman and CEO James S. (Chip) Mahan, III. “We are thrilled to have him join the board and continue leading the organization with the incredible level of dedication and acumen that has helped get us where we are today.” Lucht is a founding member of the Live Oak Bank team and most recently served as executive vice president of credit before retiring in December 2020. He joined Live Oak in 2007 and helped design the bank’s approach to identifying and managing credit risk. Additionally, Lucht helped shape the corporate culture of the company since its inception and his leadership will continue to drive the company’s trajectory. Prior to his career at Live Oak, Lucht held executive positions at financial institutions including chief credit officer, executive vice president and director at First Merit Bank in Akron, OH, where he was responsible for leading a turnaround in the credit culture and performance of the $10.5 billion bank. Prior to First Merit, Lucht served as senior credit officer of National City Bank. Lucht received a bachelor of science degree in marketing from Miami University in Ohio and a master’s in business administration from Kent State University. “It is a privilege to continue working for Live Oak to help its customers achieve the American Dream,” said Lucht. “There is truly no bank like Live Oak, and I am honored to join the board of directors to continue serving our employees, our country’s entrepreneurs and our shareholders.” About Live Oak BancsharesLive Oak Bancshares, Inc. (Nasdaq: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses who share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com. Contact:Claire Parker, SVP of Corporate Communications910.email@example.com
WILMINGTON, N.C., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Live Oak Bank has announced a $2.5 million investment with Cape Fear Collective designed to support affordable housing solutions in the Wilmington region. The investment is part of a broader initiative through Cape Fear Collective Ventures, a social impact investment initiative aimed at raising capital to scale solutions in affordable housing, workforce development, small business growth and transportation challenges. Live Oak’s investment has been used to acquire 20 residences to address affordable housing in downtown Wilmington and Pender County. “Live Oak is proud to invest in the city we call home, and we believe that supporting Cape Fear Collective is an innovative way to positively impact our vital local workforce and advance the socio-economic status of all the residents of our region,” said Huntley Garriott, president of Live Oak Bank. “We look forward to partnering with Cape Fear Collective on future investments like this one.” The goal of Cape Fear Collective Ventures is to deploy capital in communities with significant barriers to resources. The entire platform is powered by Cape Fear Collective’s cutting-edge focus on data science and project management which allows the fund to track progress, opportunity and priority shifts in real time to ensure the greatest social return on investment for partners and investors. “We’re excited to mobilize private sector capital for social good, combining community impact with consistent financial returns to investors,” said Patrick Brien, CEO of Cape Fear Collective. “Social impact investing is a rapidly scaling market and we think that this hyper-local, nonprofit approach will support economic development across the region for years to come.” “We have an opportunity to take private sector financing methods and apply them to a social mission. There is some real, sustainable magic to that,” Brien said. To learn more about Live Oak’s commitment to corporate social responsibility, visit liveoakbank.com/corporate-social-responsibility/. To learn more about Cape Fear Collective Ventures visit capefearcollective.org/ventures/. About Live Oak BankLive Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak puts a groundbreaking spin on service and technology to redefine banking. Our products help customers buy, build and expand their business, and high-yield savings and CD products to grow their hard-earned money. To learn more, visit www.liveoakbank.com. About Cape Fear CollectiveCape Fear Collective is a nonprofit using data science techniques to gain insights, mobilizing private sector capital through impact investing programs, and supporting cross-sector collaboration towards equitable systemic change in Southeastern North Carolina. Our work is centered on collaborating with community partners to leverage local assets, illuminate actionable insights, and catalyze innovative programming. To learn more, visit www.capefearcollective.org. Contact:Claire ParkerLive Oak Bank, SVP Corporate Communications910.firstname.lastname@example.org Kevin MaurerCape Fear Collective, Director of Community Engagement910.email@example.com