Live Oak Bancshares announced that its Board of Directors has made several organizational appointments including naming a new Chief Financial Officer and President of Live Oak Bancshares. In a natural evolution of his position as general partner and co-founder of Canapi Ventures, Neil L. Underwood has announced that he is stepping down as President of Live Oak Bancshares. William C. (BJ) Losch III, who has been serving as both President of Live Oak Bank and CFO, will add the additional role of President of Live Oak Bancshares effective November 14, 2023.

Phifer has served as Treasurer since 2019 and has also held the role of Head of Finance, Planning and Analysis since 2022. He brings deep experience to the leadership team as the company continues to deliver innovative banking products, services, and solutions to its customers. Prior to joining Live Oak, Phifer served as the Deposits Finance Manager at Barclays US where he managed the finances and data analytics of a $10 billion deposit portfolio.

He began his career in external audit at Deloitte, based out of the Boston and Philadelphia offices, and earned his Certified Public Accountant certification in 2006. Phifer received a bachelor's degree in economics and accounting from the College of the Holy Cross in Worcester, MA. In addition, the Board of Directors recognized Underwood's career progression and his desire to focus fully on his leadership role at Canapi Ventures.

Underwood will continue to serve as an active member of Live Oak's Board of Directors.