William “BJ” Losch will leave his position as chief financial officer at First Horizon Corp. for a new position with Live Oak Bancshares in Wilmington, North Carolina.

Losch has been with Memphis-based First Horizon for 12 years. His last day will be July 31.

Chief Operating Officer Anthony Restel will serve as interim CFO until Losch’s successor is on board, according to a company release.

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“We are incredibly fortunate to have tremendous depth of talent across the combined organization,” President and CEO Bryan Jordan said in the release. “I am pleased to have Anthony, former Iberiabank chief financial officer, serve as our CFO on an interim basis while we conduct a thorough search. His expertise and familiarity with our culture and company will help ensure that we have continued momentum toward integrating our two organizations and achieving our goal of becoming a top-performing regional bank.”

Jordan said Losch made significant contributions during his tenure.

“He has been instrumental in executing our growth strategy through times of great change and unprecedented headwinds,” Jordan said. “We will miss him, but we wish him well as he starts the next chapter in his career with an opportunity to move back to North Carolina.”

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Restel was Iberiabank’s CFO from 2006 to July 1, 2020, and served as that bank’s chief credit officer from 2006 to 2009.