Live Oak Banking Company
Headquarters
1757 Tiburon Dr
Wilmington, NC 28403
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2024 Overview
General Bank Information
Live Oak Banking Company is an FDIC insured institution located in Wilmington, NC. It was founded in 2008 and has approximately $11.21 billion in assets.
| FDIC Insured | Yes |
| FDIC Certificate | # 58665 |
| Date Established | 2008 |
| Assets | $ 11.21 billion |
| Loans | $ 8.90 billion |
| Deposits | $ 10.37 billion |
| Capital | $ 765.71 million |
For a more detailed analysis of Live Oak Banking Company's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 26, 2024
Your Current Location: Ohio, OH 43085
Bank Offers
Live Oak Bank Raises It CD Rates
Jul 5, 2018
Live Oak Bank has raised all of their CD rates. For those willing to tie up their money for short periods in order to earn higher interest rates, their 6-month rate (now at 2.00%) and the 1-year rate (now at 2.50%) could be compelling. Their complete CD offerings can be found here. The complete and most current list of 1-year online CD rates is here.
Live Oak Raises Online Savings Rate from 2.10% to 2.25%
Jan 9, 2019
Live Oak Bank has raised its online savins rate to 2.25%.
Live Oak Raises Online Savings Rate from 2.25% to 2.30%
Feb 23, 2019
The pace of savings rates increases has slowed, but Live Oak has just raised its online savings rates by 5 basis points.
Live Oak Bank Drops All 1 to 5 Year CD Rates
Mar 20, 2019
Live Oak Bank has dropped all of its CD rates immediately after the Fed move. Live Oak had been the first to offer a 1-year CD at 2.85% in December 2018. They have now moved off that level.
Live Oak Bank Lowers All of Its CDs by a Little
Jun 19, 2019
Live Oak lowered all of its CD rates this morning. Its 1-year CD product moved from 2.80% to 2.75%, leaving it just below the most competitive 1-year products.
Live Oak Bank Lowers All of Its CDs, No More 1-Year Online CDs Over 2% APY
Mar 17, 2020
Live Oak was the last bank to offer a nationally available 2% APY CD. They have lowered the rate on that product to 1.70% APY this morning.
Live Oak Bank Lowers Its Savings Rate to 1.55% APY
Apr 22, 2020
Live Oak has lowered is savings rate from 1.75% to 1.55% APY.
Live Oak Bank Lowers Its Savings Rate to 1.00% APY
Jul 6, 2020
Live Oak Bank has lowered its online savings rate from 1.15% to 1.00% APY today.
Live Oak Bank Lowers Online Savings Rate to 0.70% APY
Sep 9, 2020
Live Oak has lowered its savings rate from 0.85% to 0.70%.
Live Oak Bank Lowers Its Online Savings Rate to 0.600% APY
Nov 23, 2020
The NC-based bank has lowered its online rate to 0.60% APY today, ending a two year period during which its rates alwasy exceeded those of better known online banks.
Live Oak Bank Lowers Its Online Savings Rate to 0.55% APY
Apr 21, 2021
Live Oak has lowered it online savings rate by 5 basis points today.
Live Oak Bank Lowers Its Online Savings Rate to 0.50% APY
Jun 8, 2021
Live Oak has lowered its online savings rate again, effective June 10, 2021.
Live Oak Bank Raises Its Online Savings Rate to 0.600% APY
Mar 1, 2022
Live Oak Bank has raised its online savings rate by 10 basis points to 0.60% APY.
Loan Rates - April 26, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Live Oak Banking Company
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 401822 |
6.944% |
6.750% 1.00 points $6,400 fees |
$2,076 | Learn More |
NMLS ID: 2059741 |
7.018% |
6.875% 0.88 points $4,672 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.476% |
7.375% 1.00 points $3,200 fees |
$2,211 | Learn More |
NMLS ID: Not a Lender |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
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Branches
Live Oak Banking Company branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
Live Oak Banking Company is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Live Oak Banking Company Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Live Oak Banking Company. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Live Oak Banking Company | U.S. Bank Average |
|---|---|
| 21.3% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, Live Oak Banking Company had $183,381,000 in non-current loans and $6,481,000 in owned real estate. To cover these potential losses it had $765,711,000 in equity and $125,840,000 in loans loss reserves. That gives it a Texas Ratio of 21.3%.
Return on Equity
| Live Oak Banking Company | U.S. Bank Average |
|---|---|
| 11.19% | 12.20% |
Live Oak Banking Company has a Return on Equity of 11.19% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Live Oak Banking Company | U.S. Bank Average |
|---|---|
| 6.83% | 10.76% |
Live Oak Banking Company has a Capitalization of 6.83% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Live Oak Banking Company Balance Sheet Analysis
As of December 31, 2023, Live Oak Banking Company had assets of $11,206,067,000, loans of $8,895,045,000, and deposits of $10,369,730,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 579.84 million |
| Interest-bearing balances | $ 554.43 million |
| Total securities | $ 1,127.81 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 8.90 billion |
| Loan loss allowance | $ 125.84 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 6.48 million |
| Goodwill and other intangibles | $ 51.86 million |
| All other assets | $ 311.35 million |
| Total Assets | $ 10.44 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 10.37 billion |
| Interest-bearing deposits | $ 10.02 billion |
| Deposits held in domestic offices | $ 10.37 billion |
| % insured (estimated) | 85.97% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 48.20 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 77.18 million |
| Total Liabilities | $ 10.44 billion |
| Shareholders’ Equity | $ 765.71 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 687.38 million |
| Total Interest Expense | $ 341.79 million |
| Net interest income | $ 345.60 million |
| Provision for loan and lease losses | $ 51.32 million |
| Total non interest income | $ 95.45 million |
| Total non interest expense | $ 302.59 million |
| Pre-tax Net Operating Income | $ 47.35 million |
Bank Loan Profile?
The top three loan types in Live Oak Banking Company’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Construction and Development Loans.
Compared to other banks in North Carolina, Live Oak Banking Company has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 1.32 | ✓ | ||
| Multifamily Mortgages |
0.06 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 2.71 | ✓ | ||
| Construction and Development Loans | 6.97 | ✓ | ||
| Commercial Real Estate | 28.89 | ✓ | ||
| Commercial and Industrial Loans | 37.16 | ✓ | ||
| Farm Loans | 0.07 | ✓ | ||
Customer Reviews for Live Oak Banking Company
50Rc2
December 6, 2022 |
Customer service — unreliable, different CS person gets a different answer. LOB readily accepts your incoming funds, out going of funds the bank puts up a barrage of road blocks. A wire out, a letter FROM the institution funds are going to, verifying you, Docu- signs, encrypted letter to LOB with instructions. So if time/expediency are important that leaves the ACH process as the most expedient other option which can take days. So your linking bank accounts w trial deposits or revealing your institutions pass word for your account for what may be a one time transaction. Reach out to management — missing in action, no reply. My opinion/review of my experiences dealing with LOB, consider yourself forewarned.
Is this review helpful? Yes:0 / No: 0
leo
May 19, 2022 |
procedures arbitrary, after initial approval of application said photo of address verification did not include all 4 corners of page therefore application incomplete and no longer approved. Suspect this bank may develop new rules when it comes time to withdraw money. Waste of time and effort to get involved with them. 4 corner requirement was never presented during the application process.
Is this review helpful? Yes:2 / No: 1
Overall happy
March 23, 2022 |
But, not appreciating the constant emails offering $200 if I deposit another $25,000 when I am up against FDIC limits. I may take my business elsewhere as this is tantamount to shitting on your most loyal customers in order to get new lesser valued customers.
Is this review helpful? Yes:0 / No: 1
regular me
March 7, 2022 |
I am just a regular me who deposited a large sum in Live Oak a few years ago. I have been a happy customer and valuable one too. I do not appreciate the bonuses for new customers, having never gotten one or asked for one before. I also have an account with Marcus and they always extend the same opportunities to everyone. This regular me has not been made to feel that his patronage is valuable at all.
Is this review helpful? Yes:1 / No: 0
Regan Dave
November 13, 2021 |
Rate is not unattractive in this environment but I will wait until January or February and see where things are then.
Is this review helpful? Yes:0 / No: 1
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