Live Oak Banking Company

Headquarters

1757 Tiburon Dr
Wilmington, NC 28403
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 4.08% →
1-Year CD N.A. 4.71% →
2-Year CD N.A. 4.73% →
5-Year CD N.A. 4.75% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 1.93% →

2022 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 $9.03 billion in assets.

FDIC Insured Yes
FDIC Certificate # 58665
Date Established 2008
Assets $ 9.03 billion
Loans $ 6.99 billion
Deposits $ 8.25 billion
Capital $ 650.55 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 - December 2, 2022

Your Current Location: Virginia, VA 20146

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 - December 2, 2022

Your Current Location: Virginia, VA 20146

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 - Virginia 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
Morty, Inc.
NMLS ID: 1429243
5.705% 5.625%
0.88 points
$2,190 fees
$1,440 Learn More
Rocket Mortgage
NMLS ID: 3030
7.138% 6.990%
1.00 points
$3,750 fees
$1,662 Learn More
First Internet Bank
NMLS ID: 424182
6.200% 6.125%
0.75 points
$1,998 fees
$1,520 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 6.490 %
After Intro: 7.500 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
6.240 %
$0 Learn More
More Info

Note to Live Oak Banking Company
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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:
Ashburn,Virginia


Live Oak Banking Company Locations



Climate 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.

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
10.88% 4.06%

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 June 30, 2022, Live Oak Banking Company had $77,745,000 in non-current loans and $191,000 in owned real estate. To cover these potential losses it had $650,552,000 in equity and $65,863,000 in loans loss reserves. That gives it a Texas Ratio of 10.88%.

Return on Equity
Live Oak Banking Company U.S. Bank Average
11.63% 9.98%

Live Oak Banking Company has a Return on Equity of 11.63% versus the BestCashCow average of 9.98%. 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
7.2% 10.23%

Live Oak Banking Company has a Capitalization of 7.2% versus the BestCashCow average of 10.23. 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 June 30, 2022, Live Oak Banking Company had assets of $9,030,628,000, loans of $6,994,080,000, and deposits of $8,254,697,000. 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

June 30, 2022
ASSETS
Cash & Balances due from depository institutions $ 570.78 million
Interest-bearing balances $ 123.33 million
Total securities $ 927.80 million
Federal funds sold and reverse repurchase $ 51.69 million
Net loans and leases $ 6.99 billion
Loan loss allowance $ 65.86 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.19 million
Goodwill and other intangibles $ 32.02 million
All other assets $ 311.35 million
     Total Assets $ 8.38 billion
LIABILITIES
Total deposits $ 8.25 billion
      Interest-bearing deposits $ 8.04 billion
      Deposits held in domestic offices $ 8.25 billion
      % insured (estimated) 81.58%
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 $ 8.38 billion
      Shareholders’ Equity $ 650.55 million

Summary Income Statement

June 30, 2022
INCOME AND EXPENSES
Total Interest Income $ 191.92 million
Total Interest Expense $ 33.38 million
Net interest income $ 158.54 million
Provision for loan and lease losses $ 7.10 million
Total non interest income $ 34.03 million
Total non interest expense $ 138.12 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 1.67
Multifamily
Mortgages
0.08
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 3.29
Construction and Development Loans 8.87
Commercial Real Estate 36.74
Commercial and Industrial Loans 47.26
Farm Loans 0.09

Customer Reviews for Live Oak Banking Company


  • May 19, 2022 |

    Online Savings Rates

    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.

  • March 23, 2022 |

    Online Savings Rates

    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.

  • March 7, 2022 |

    Online Savings Rates

    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.

  • November 13, 2021 |

    Online CDs 12 Month Rates

    Rate is not unattractive in this environment but I will wait until January or February and see where things are then.

  • October 27, 2021 |

    Online CDs 24 Month Rates

    I have invested with Live Oak for many years and have never had a problem with them. My on line instructions have been followed 100% in a relatively timely manner. Withdrawals seem to take 1 day, new investments take longer to post but earnings start when the account is created. I have never had a problem with this bank over 8 years doing business with them. Any time I have called customer service I have been connected to an intelligent and polite person who either immediately answers my question or calls me back within a very short time period with the answer.

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