Live Oak Banking Company

Headquarters

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

Notable Rates APY Vs.Others
Savings 0.70% 0.95% →
1-Year CD 0.60% 1.01% →
2-Year CD 0.70% 0.95% →
5-Year CD 0.80% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 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 $5.2 billion in assets.

FDIC Insured Yes
FDIC Certificate # 58665
Date Established 2008
Assets $ 5.20 billion
Loans $ 3.78 billion
Deposits $ 4.65 billion
Capital $ 484.40 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 - October 27, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings Account
0.70% $0 - Learn More
CD Rates APY MIN MAX
6 Month CD
0.60% $2,500 $250,000 Learn More
One-Year CD
0.60% $2,500 $250,000 Learn More
18 Month CD
0.60% $2,500 $250,000 Learn More
2 Year CD
0.70% $2,500 $250,000 Learn More
3 Year CD
0.70% $2,500 $250,000 Learn More
4 Year CD
0.80% $2,500 $250,000 Learn More
5 Year CD
0.80% $2,500 $250,000 Learn More

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%.



Loan Rates - October 27, 2020

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.666% 2.625% 0.50 $1,335 $1,005 Learn More
First Internet Bank
NMLS ID: 424182
2.574% 2.500% 1.00 $2,430 $988 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR
2.990 %
After Intro: 3.500 %
Intro Period: 12 months
$25,000 Learn More
More Info

Note to Live Oak Banking Company
To upload and update your bank's rates please register. It is free to register and add rates.

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


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
19.56% 6.94%

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 March 31, 2020, Live Oak Banking Company had $95,043,000 in non-current loans and $6,744,000 in owned real estate. To cover these potential losses it had $484,401,000 in equity and $35,906,000 in loans loss reserves. That gives it a Texas Ratio of 19.56%.

Return on Equity
Live Oak Banking Company U.S. Bank Average
-7.85% 7.80%

Live Oak Banking Company has a Return on Equity of -7.85% versus the BestCashCow average of 7.80%. 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
9.32% 12.68%

Live Oak Banking Company has a Capitalization of 9.32% versus the BestCashCow average of 12.68. 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 March 31, 2020, Live Oak Banking Company had assets of $5,199,714,000, loans of $3,777,636,000, and deposits of $4,653,249,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 214.52 million
Interest-bearing balances $ 212.31 million
Total securities $ 576.31 million
Federal funds sold and reverse repurchase $ 158.23 million
Net loans and leases $ 3.78 billion
Loan loss allowance $ 35.91 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 6.74 million
Goodwill and other intangibles $ 32.58 million
All other assets $ 298.10 million
     Total Assets $ 4.72 billion
LIABILITIES
Total deposits $ 4.65 billion
      Interest-bearing deposits $ 4.59 billion
      Deposits held in domestic offices $ 4.65 billion
      % insured (estimated) 87.17%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 2.43 million
Subordinated debt N.A.
All other liabilities $ 59.64 million
      Total Liabilities $ 4.72 billion
      Shareholders’ Equity $ 484.40 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 63.43 million
Total Interest Expense $ 23.25 million
Net interest income $ 40.17 million
Provision for loan and lease losses $ 11.79 million
Total non interest income $ 4.71 million
Total non interest expense $ 46.60 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Live Oak Banking Company’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Construction and Development Loans.

Compared to other banks in North Carolina, Live Oak Banking Company has a significantly higher percent of Construction and Development Loans, 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 0.98
Multifamily
Mortgages
0.02
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 3.67
Construction and Development Loans 19.77
Commercial Real Estate 34.72
Commercial and Industrial Loans 34.11
Farm Loans 0.28

Frequently Asked Questions About Live Oak Banking Company

Branches and Savings

Is Live Oak Banking Company FDIC insured?

Yes. It is covered under FDIC Certificate #58665.

Why does Live Oak Banking Company pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Live Oak Banking Company CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Live Oak Banking Company a commercial bank?

Yes

Where are Live Oak Banking Company locations?

See branch locations nearby.

Is Live Oak Banking Company open on Saturdays?

Is Live Oak Banking Company open on Sundays?

What time does Live Oak Banking Company open?

What time does Live Oak Banking Company close?

Are Live Oak Banking Company ATMs Open 24/7?

Do Live Oak Banking Company ATMs accept cash deposits?

Can Live Oak Banking Company customers use other ATMs?

Do Live Oak Banking Company branches have notaries?

Will Live Oak Banking Company notarize my document?

What address for Live Oak Banking Company should I put for incoming ACH transfers?

Will the Live Oak Banking Company branch print checks?

Do Live Oak Banking Company checks expire?

Does Live Oak Banking Company require US citizenship to open account?

Can Live Oak Banking Company close my account?

Does Live Oak Banking Company Report to credit bureaus?

Does Live Oak Banking Company Use Equifax?

What is Live Oak Banking Company's ACH Routing Number?

What is Live Oak Banking Company's SWIFT code?

Products

Does Live Oak Banking Company offer mortgages?

Compare mortgage rates here.

Does Live Oak Banking Company offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Live Oak Banking Company offer personal loans?

Compare personal loan rates here.

Does Live Oak Banking Company offer student loans?

Will Live Oak Banking Company cash a check?

Will Live Oak Banking Company redeem a savings bond?

Does Live Oak Banking Company cash savings bonds?

Will Live Oak Banking Company cash money orders?

Can Live Oak Banking Company issue a money order?

Does Live Oak Banking Company do currency exchange?

Background on The Bank

Who owns Live Oak Banking Company?

How long has Live Oak Banking Company been around?

Can Live Oak Banking Company transfer to other banks?

Does Live Oak Banking Company have quick pay?

Does Live Oak Banking Company accept rolled coins?

Will Live Oak Banking Company accept loose change?

Where is Live Oak Banking Company headquarters?

Customer Reviews for Live Oak Banking Company


  • September 03, 2020 |

    Online Savings Rates

    This is the best bank on the list. Great service, competitive rates, no problems.

  • August 28, 2020 |

    Online Savings Rates

    I've been banking with Live Oak since they first began offering online savings and CD products about 5 years ago. I've never had a problem and always received prompt service online, by phone and by message when I have a question. Their rates have come down a bit over the last several months and I could use this section to complain. Rates have fallen everywhere however, and LOB has remained very competitive. So no complaints!

  • July 31, 2020

    Online Savings Rates

    I opened for the rates, but stayed for the service. 5 stars for the fast email responses to any question.

  • July 07, 2020 |

    Online Savings Rates

    They use to have best savings rate. Now they just do down and down and down

  • April 06, 2020 |

    Online Savings Rates

    The bank uses "Plaid" system for linking with external bank. Less than 1/3 of American banks (2,000 out of 6,800) currently accept Plaid, and there is no way around it. Another gang of cyber-swindlers.there is no way around it. The r

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