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877-890-5867
1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Banking Company is headquartered in Wilmington and is the 28th largest bank in the state of North Carolina. It is also the 1,420th largest bank in the nation. It was established in 2008 and as of March of 2014, it had grown to 148 employees at 1 location. Live Oak Banking Company has a A+ health rating.

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Reviews (3)

Amazing Experience

Never had such an amiable exprience with a Bank. I have a lot of exprience with Banks. This past year I was looking to get financing to build a Dental office from scratch. I was turned down by 3 Banks and the 4th Bank (AVIDIA BANK) agreed to finance us, but backed off last min. AVIDIA BANK  backed off after giving us a commitment letter. At this time we had already invested around $230,000 on attorney , Architects, Permits, appraisal etc.

The seller was gracious enough to extend the closing 2 more months after he knew what we had been through with AVIDIA BANK. This is when Live oak Bank came on the scene. My project is in Melrose, MA but  Keith Merklin, senior loan officer flew down to meet us in person to discuss the loan. We had exactly 1 month for closing. This guy is really amazing and he made this miracle of closing on the 28th Feb,the last day of closing. The people who worked with Keith were very effecient and through and it was a totally different experience working with Live Oak Bank. Keith is a straight shooter and he tells you exactly where you stand and what can be done, unlike most bankers. This guy has brought my faith back in bankers.

In Response

The CD disclosure statements are not contradictory.  APY is based on interest being compounded.  If interest payments are withdrawn during the term it reduces the APY.

Live Oak Bank, Wilmington, NC

The bank seems understaffed for online customers and does not give clear answers to questions.  Its CD account disclosure document is contradictory: For its simple interest-bearing CD products, in one place it says you can withdraw interest that has been posted without penalty, but in another place it says that the APY is affected if you withdraw interest.  Nothwithstanding the great interest rates, I would not take a chance depositing funds with this bank.  Live Oak seems incapable of dealing with banking questions professionally. 



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Live Oak Banking Company had $341,000 in non-current loans and owned real-estate with $54.15 million in equity and loan loss allowances on hand to cover it. This gives Live Oak Banking Company a Texas Ratio of 0.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Live Oak Banking Company decreased dramatically from (infinite) as of March 31, 2013 to 0.63% as of March 31, 2014, resulting in a positive change of (infinite). This indicates that the balance sheet and financial strength for Live Oak Banking Company has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Live Oak Banking Company has increased its total deposits by $92.78 million, resulting in 28.6% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Live Oak Banking Company has shown is excellent.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Live Oak Banking Company has $475.35 million in assets with $54.15 million in equity, resulting in a capitalization level of 11.39%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #58665
Year Established2008
Employees148
Primary RegulatorFDIC
Assets and Liabilities
Assets$475.35 million
Loans$347.41 million
Deposits$417.22 million
Equity Capital$50.94 million
Loan Loss Allowance$3.21 million
Real Estate Owned$341,000
Historic Data - March 2013
Assets$369.45 million
Equity Capital$41.32 million
Loan Loss Allowance$5.48 million
Unbacked Noncurrent Loans$0
Real Estate Owned$133,000
Profit Margin - Quarterly
Net Interest Margin3.28%
Return on Assets5.78%
Return on Equity50.96%
Interest Income$4.13 million
Rates

Sorry, we do not have rate data for Live Oak Banking Company

Locations


Live Oak Banking Company Locations
Live Oak Banking Company1741 Tiburon DriveWilmington, NC 28412