In June 2024, $12.9 billion-asset Live Oak Bank in Wilmington, N.C., debuted a new office building constructed with mass timber materials, a method that uses glue-laminated timber and cross-laminated timber for structurally strong columns, beams and floors.
According to Koo MacQueen, head of real estate strategy for the community bank, the location was added to accommodate the bank’s growing staff and evolving operational needs. It also serves as a testament to the bank’s commitment to innovation and forward-thinking design.
“I challenged the leadership team that if we were going to be all things innovative [as] a financial services platform, we should also do it in all facets of the organization,” said MacQueen.
Using mass timber offered an advantage during construction. “Speed was of interest to us in this project, because our growth was happening pretty rapidly,” said MacQueen. “We were able to shave about two months off the construction schedule by going with mass timber.”
The new office incorporates biophilic design, an architectural strategy that integrates elements of nature into the workspace. MacQueen says this approach is intended to foster stress reduction and enhance productivity.
Live Oak Bank sourced the building materials locally. The wood was milled in Alabama, processed into mass timber in South Carolina, and then delivered to Wilmington, ensuring the entire supply chain remained within the southeastern U.S. “The design methodology for the campus is really to bring the outside in so employees are able to see natural elements,” MacQueen said.
