Chip Mahan '73
CEO, Live Oak Bank
Chip is the founder, CEO and chairman of the board of directors of Live Oak Bank. He is a founding member of nCino and serves on nCino’s board of directors. Prior to Live Oak Bank, he was the CEO and chairman of the board for S1 Corporation and founder of Security First Network Bank, the world’s first Internet bank. Under his leadership, S1 Corporation grew to become a $234 million software and services provider in only six years, averaging more than 200 percent growth year over year. At its peak, S1 had a market capitalization of $7.8 billion. During his term as CEO, Chip was ranked as one of the 10 Most Influential Personalities in Financial Services by FutureBanker magazine.
Prior to founding Security First Network Bank and S1 Corporation, Chip launched Cardinal Bancshares, where he served as chairman and CEO. He built Cardinal into an institution with $800 million in total assets and took the company public in 1992. Before launching Cardinal, he spent several years with Citizens Union National Bank & Trust Co., serving as president, COO and vice chairman, becoming chairman and CEO in 1984. In 1986, Chip formed an investment group that purchased Citizens Union and subsequently sold it to BankOne Corp. of Columbus, Ohio. He began his career in 1973 at Wachovia Bank & Trust Co. in Winston-Salem, NC, after graduating with a bachelor’s degree in economics from W&L.