2. Live Oak Bank

Live Oak Bank


Overview / Commentary
www.liveoakbank.com
866-518-0286
1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is the 257th largest bank in the nation. It was established in 2008 and as of June of 2019, it had grown to 502 employees. Live Oak Bank's savings rates are 4X the national average, and it boasts an A+ health rating.

Related Posts

CD Rates Drop Again - 9/18/2019

Prior to the announcement of the target Fed Rate, Live Oak Bank has reduced CD interest rates by at least 5bps across the board for certificates 1 Year or longer: 1Yr: 2.35% (from 2.4%) 18Mos: 2.35% (from 2.45%) 2Yr: 2.4% (from 2.45%) 3Yr: 2.4% (from 2.45%) 4Yr: 2.4% (from 2.45%) 5Yr: 2.45% (from 2.5%)

Savings Drops To 2.15% APY - 9/11/2019

Following a ton of other rate drops, Live Oak Bank reduced their savings rate 15bps from 2.3% to 2.15% APY.

CD Rate Drops - 3/20/2019

CD rates shed 5 bp on all terms except 5-year...

View all posts from:


Reviews (73)

Live Oak Bank Is Tops In On-Line Service

Posted by: PopPop | Jan 26, 2019

Upon retiring I had to make my money work harder for me, I built my CD ladder at about a dozen banks and credit unions that were offering top rates.

They all had pretty much the same account opening processes, but that is were the similarities ended.

Once your first CD account at Live Oak Bank, adding a second / third.... takes under a minute and is painless. Most other banks make you go through the whole opening process again, taking days. Its like they don't even know you.

At LOB, you can control virtually any aspect of your CD online with ease. Beneficiary / Joint Owner / Monthly interest can be sent back to your home bank, what to do when the CD matures, etc. Other banks require a call to their customer service, exchange of forms through the mail, it's an unnecessary bother.

All of LOB's great online service would not be with it if their interest rates were not at the top of the heap, but the consistently are. It's a win / win situation for CD investors. Top rates and top customer service.

Little wonder why most of my money goes to work at Live Oak Bank.

20

Impossible To Log On To Account

Posted by: shay2020 | Sep 14, 2019

I purchased two CDs from this bank because they had some good rates. When I tried to log on to my account, there was some problems with my web browser. I called for 3 days in a row and no one was able to correct the problem. I have an account with them and I want to purchase more CDs from them but it is impossible to log on to conduct business with them. Really bad for an internet only bank.
Also I wanted to add my wife as a co-owner but they said she had to have her own email address to do that. She only uses my email to conduct business so this makes it more difficult to do business with them.

2

Five Day Hold With No Interest For Transfers!

Posted by: Tekka | Jun 23, 2017

I opened a Savings account with this bank this past week. I already had a CD there. The CD provides no statements, just an online list of transactions and a 1099-Int. The interest rate was good at the time I opened it, so no big deal.

However, it turns out that there is a 5 day hold on the money I deposited in my savings account. The money came out of my other bank account on Thursday but the CSR says I won't see it in my account until the next Wednesday. Meanwhile, the CSR confirmed and that I am NOT going to earning any interest on that money during that hold period.

There will also be a five day hold on any withdrawals. The CSR said this is because they use an "intermediary bank" for transfer transactions.

This was not made clear in any way before I opened the account. Despite the nice interest rate I won't be moving in any more money. That hold coming and going effectively lowers the interest rate paid.

64

EPIC FAIL OR GREAT PHISHING EXPEDITION

Posted by: LiveOakJoke | Aug 10, 2019

Just moronic. Undisclosed timed questions about what streets and hospitals are close to you? Is this a joke? They obviously are not looking for a steady increase of customers. Incidentally, such questions are NOT going to prevent a scammer/hacker from answering them correctly. They're only going to confuse the hell out of legitimate customers and waste their time unnecessarily. I'm already with 4 other financial institutions, opening an account should not be like pulling your teeth out. I don't mind being asked real questions that I would know, but these are truly pointless questions that have never been stored in my memory. Like most people, I only remember major roads near me that I actually USE.

7
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Health
A+

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #58665
Year Established2008
Employees502
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.61%
Return on Equity - YTD5.49%
Annual Interest Income$109.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$4.26B$3.42B
LoansQ2 2019vs Q2 2018$3.05B$2.28B
DepositsQ2 2019vs Q2 2018$3.74B$3.00B
Equity CapitalQ2 2019vs Q2 2018$468.3MM$374.4MM
Loan Loss AllowanceQ2 2019vs Q2 2018$38.0MM$29.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$3.3MM$1.7MM
Real Estate OwnedQ2 2019vs Q2 2018$6.0MM$1.7MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

CD Rates Drop Again

tbc3   |  
Prior to the announcement of the target Fed Rate, Live Oak Bank has reduced CD interest rates by at least 5bps across the board for certificates 1 Year or longer:

1Yr: 2.35% (from 2.4%)
18Mos: 2.35% (from 2.45%)
2Yr: 2.4% (from 2.45%)
3Yr: 2.4% (from 2.45%)
4Yr: 2.4% (from 2.45%)
5Yr: 2.45% (from 2.5%)
2

Savings Drops To 2.15% APY

tbc3   |  
Following a ton of other rate drops, Live Oak Bank reduced their savings rate 15bps from 2.3% to 2.15% APY.
9

Rates
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Always verify rates and promotions with the bank or credit union. We are not Live Oak Bank; we are a rate comparison website and cannot provide official rates or promotions.

Live Oak Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%-$5mSavings Account
1.10%-$5mBusiness Savings

Live Oak Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$2.5k$250k5 Year CD
2.50%$2.5k$250k5 Year Business CD
2.45%$2.5k$250k18 Month CD
2.45%$2.5k$250k2 Year CD
2.45%$2.5k$250k3 Year CD
2.45%$2.5k$250k4 Year CD
2.45%$2.5k$250k18 Month Business CD
2.45%$2.5k$250k2 Year Business CD
2.45%$2.5k$250k3 Year Business CD
2.45%$2.5k$250k4 Year Business CD
2.40%$2.5k$250k1 Year CD
2.40%$2.5k$250k1 Year Business CD
2.00%$2.5k$250k6 Month CD
2.00%$2.5k$250k6 Month Business CD
Locations

Live Oak Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1741 Tiburon Drive - Wilmington, NC 28403

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.