Live Oak Bank

Overview / Commentary
1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is the 184th largest bank in the nation. It was established in 2008 and as of December of 2021, it had grown to 769 employees. Live Oak Bank's CD rates are 94% higher than the national average, and it has an A health rating.

Related Posts

Live Oak Bank Online Savings From 0.60 To 0.80 - 5/10/2022

The title says it all. Change goes into effect tomorrow (May 11).

Live Oak Bank Substantially Boosts Rates On All CDs - 5/6/2022

Live Oak Bank (internet bank) has substantially upped its CD rates with increases of 50 to 75 bps. Nationally available, with a $2.5k min deposit and a $250k cap.

Live Oak Bank Substantially Increases All CD Rates - 4/14/2022

Live Oak Bank (internet bank) has substantially raised its CD rates with increases of 15 to 70 bps. Shorter term CDs currently have the more competitive rates.

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11/26/19 - Live Oak Bank Online Savings Cuts To 1.85% APY
11/8/19 - CD Rate Cut 15 Basis
10/2/19 - Savings Account Rates Drop From 2.15% To 2.00%
9/26/19 - CD Rate Drops At Live Oak Bank
9/18/19 - CD Rates Drop Again
9/11/19 - Savings Drops To 2.15% APY
3/20/19 - CD Rate Drops
2/23/19 - Live Oak Bank Savings Account Now Earns 2.30% APY
2/22/19 - Savings Account Increase
2/15/19 - Downward CD Movement
1/11/19 - Live Oak Bank Savings Account Rises to 2.25% APY
1/9/19 - Live Oak Savings Moves Up To 2.25%
11/30/18 - Live Oak Bank 1-Year Nears The Top With New APY
11/28/18 - Live Oak Ups Saving Rate To 2.10
11/16/18 - Live Oak Bank Nudges 1-Year CD Rate Again
11/8/18 - Live Oak Bank Nudges 1-Year CD Rate
10/24/18 - Live Oak Bank's Savings Account Reaches 2.00% APY
10/24/18 - Live Oak Ups Savings Rate
10/10/18 - Live Oak Bank 1-Year CD Has A New APY
10/10/18 - Minor Increases
8/24/18 - Live Oak Lowers CD Rates
8/11/18 - Live Oak Bank (Internet Bank) 1-Year CD Rate Raised
8/9/18 - Slight CD Increase
7/18/18 - Live Oak Bank Increased Savings Account Rate To 1.80%
7/6/18 - Live Oak Bank (Internet Bank) 1-Year CD Rate Jumps
7/4/18 - Higher CD Rates
5/9/18 - Live Oak Bank - Confirm Your Account Info Is Correct
5/9/18 - 2-Year CD Rate Cut
4/26/18 - Live Oak Bank Lowers Rates On 2 Year And 18 Month CD's
4/18/18 - Increase In 1-Year CD Rate
3/22/18 - Live Oak Bank Savings Account APY Climbs
3/21/18 - Savings Now At 1.70%
3/15/18 - Live Oak Bank Once Again Pulls Ahead In The Rates Race
3/15/18 - Another Bump Up At Live Oak
3/7/18 - CD Rates Up As Of 3/7/18
1/31/18 - Live Oak Bank Pushes CD Rates Upward
1/17/18 - Live Oak Bank Takes The Lead In One Year CD Rate 2.10%
1/17/18 - Live Oak Bank Ups 1-Year CD And Savings Account Rates
1/11/18 - Live Oak Bank's 1-Year CD Joins The 2% APY Club
1/10/18 - CD Rate Increases
12/14/17 - Live Oak Bank's Savings Account Is Now Top Rate Leader
12/14/17 - CD Rates Increases
12/1/17 - Savings Account Now Earning 1.45% APY
11/1/17 - CD Rates Increases
8/8/17 - Live Oak Bank Ups Savings Account Rate
8/8/17 - Savings APY Increased To 1.40%
7/7/17 - Live Oak Bank (Internet Bank) Ups Savings Account Rate
7/6/17 - Savings Account APY Increased To 1.35%
6/22/17 - CD Rate Increases
6/13/17 - Live Oak Bank (Internet Bank) Adds Savings Account
6/12/17 - Savings Account
3/22/17 - Live Oak Brokered CDs
3/15/17 - 1-Year CD Rate Increase
1/25/17 - Live Oak Bank (Internet Bank) Increases Short-Term CD Rates
1/25/17 - Live Oak Bank Increases 1-Year And 18-Month CD Rates
8/3/16 - Competitive 12 Month CD At Live Oak, 1.30% APY.
8/1/16 - Live Oak Drops 4- And 5-Year CD Rates
2/25/16 - 6-Month CD Added
2/1/16 - Live Oak Bank (Internet Bank) Raises Rates On All Its CDs
2/1/16 - Live Oak Bank 1Yr CD 1.3%APY More Terms Available
6/2/15 - End Date Extended On 24-Month CD, 1.50% APY
5/19/15 - Live Oak Bank Offers Limited-Time, Top Rate 24-Month CD - Online Only
4/22/15 - Live Oak Bank Has Limited-Time, Top Rate 12-Month CD
4/20/15 - Top Rate 1.40% APY 1 Year CD, Live Oak Bank. Quick Look.
4/2/15 - Live Oak Bank Offers Limited Time, Top-Rate 24-Month CD
4/1/15 - 1.50% APY 24 Month CD At Live Oak. Quick Look.
3/10/15 - Live Oak Bank's 5-Year CD Special Is Back For A Limited Time
2/19/15 - Top 5-Year CD Rate at Live Oak Bank
2/28/13 - Top Money Market and CD Rates at Live Oak Bank - North Carolina Only

Reviews (100)

Great Experience With Live Oak Bank

Posted by: |

I am puzzled with some of the experiences others have talked about...This is my third CD that I have had with Live Oak, I closed the two prior and in both instances I received the proceeds promptly into my account.
I just opened a new CD account and with 5 minutes I was completed and awaiting the transfer of funds from my account. I thought is was extremely easy, I though the website was easy to navigate.

The Only "Internet Only" Bank I Trust.

Posted by: |

I have been with Live Oak For a while now. I have never had a single issue with the bank. I have both savings and CDs here. Their savings rates are always at the top of list and the CD rate blow away the competition. The latest app has issues remembering fingerprint login. Rates are easy to find on the website and they are quick to react to fed changes. It's too bad they only offer savings products for personal customers, as this would be my main bank if they offered all services.

Not Recommended

Posted by: |

Good customer service and loved the ability to assign and delete beneficiaries within my online account. You can even print a copy for your records. I wish all banks had that feature. However, I think I stayed too long. Throughout the three years I had accounts with this bank, found errors in totals on two occasions. Then I realized that the savings account activity page did not give me the balance after each transaction, which made it very difficult to trace if your deposits are being added correctly. That did it: No more business with them.

From Very Good To Very Poor

Posted by: |

I opened an account with this bank in the fall of 2017 largely because it had one of the highest rates I could find. During the subsequent (nearly) 4 years (up until the August 23, 2021 "upgrade") I was very satisfied with this bank. Granted, interest rates gradually fell (as did those of other financial institutions), but still remained "near the top of the pack". I accessed my account totally online to park my reserve savings and was able to easily move money to and from my other financial institutions. Customer service was easy to reach and friendly. The website gave me all the information I needed (ie: routing number, interest rate, etc.),
That was BEFORE the "upgrade". Now things have "gone down the toilet". The website is totally "bare bones". You can't find the current interest rates, their routing number, and little meaningful online help. They place a longer time delay on financial transfers, and don't keep up with current interest rates (you can find rates 40% higher elsewhere). The only thing this "upgrade" (more properly labeled "desperate cost saving measure") has accomplished is to funnel more of your hard earned dollars into the pockets of those in charge of Live Oak Bank. I recommend finding another financial institution to lend your money to.



Data as of Q4 2021

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

FDIC Certificate #58665
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.76%
Return on Equity - YTD24.28%
Annual Interest Income$360.9MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$8.14B$7.83B
LoansQ4 2021vs Q4 2020$6.57B$6.27B
DepositsQ4 2021vs Q4 2020$7.12B$5.73B
Equity CapitalQ4 2021vs Q4 2020$666.4MM$516.4MM
Loan Loss AllowanceQ4 2021vs Q4 2020$63.6MM$52.3MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$10.1MM$20.5MM
Real Estate OwnedQ4 2021vs Q4 2020$620.00K$4.2MM
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Live Oak Bank Savings Account Rates

0.80%-$5mHigh Yield Online Savings
0.80%-$5mBusiness Savings

Live Oak Bank CD Rates

2.75%$2.5k$250k5 Year CD
2.75%$2.5k$250kBusiness 5 Year CD
2.50%$2.5k$250k4 Year CD
2.50%$2.5k$250kBusiness 4 Year CD
2.30%$2.5k$250k3 Year CD
2.30%$2.5k$250kBusiness 3 Year CD
2.20%$2.5k$250k2 Year CD
2.20%$2.5k$250kBusiness 2 Year CD
2.00%$2.5k$250k18 Month CD
2.00%$2.5k$250kBusiness 18 Month CD
1.75%$2.5k$250k1 Year CD
1.75%$2.5k$250kBusiness 1 Year CD
1.25%$2.5k$250k6 Month CD
1.25%$2.5k$250kBusiness 6 Month CD

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.