Live Oak Bank

Overview / Commentary

www.liveoakbank.com

866-518-0286

1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is the 176^th largest bank in the nation. It was established in 2008 and as of March of 2022, it had grown to 816 employees. Live Oak Bank's savings rates are 3X the national average, and it has an A health rating.

Live Oak Bank To 1.75% APY - 8/5/2022

Live Oak Savings has increased by 35 basis points from 1.40 to 1.75% APY. I didn't see any adjustments yet to their CD rates.

Live Oak Bank Savings From 1.05% To 1.40% (APY) - 7/11/2022

"We’re excited to share that as of tomorrow, July 12, 2022, your savings account will earn 1.40% Annual Percentage Yield (APY)."

Savings Increase To 1.05% APY Effective 6/10/22 - 6/9/2022

We’re excited to share that as of tomorrow, June 10, 2022, your savings account will earn 1.05% Annual Percentage Yield (APY).³ Sign in to see your latest savings.

View all posts from:

2022
2021
2020
Earlier

8/5 - Live Oak Bank To 1.75% APY
7/11 - Live Oak Bank Savings From 1.05% To 1.40% (APY)
6/9 - Savings Increase To 1.05% APY Effective 6/10/22
5/10 - Live Oak Bank Online Savings From 0.60 To 0.80
5/6 - Live Oak Bank Substantially Boosts Rates On All CDs
4/14 - Live Oak Bank Substantially Increases All CD Rates
3/4 - Live Oak Bank Offers $200 Bonus For New Savings Accounts
3/1 - Earn A $200 Bonus When You Deposit $25,000 In A New Live Oak Savings Account.
2/5 - Live Oak Bank Ups Rates On All CDs To Market-Leading Levels
1/19 - Live Oak Bank Increases Rates On All CDs

9/30 - Live Oak Bank Increases Rates On Three CDs
7/21 - Live Oak Plans To Restrict Online Access To Text Authentication Only
6/8 - Savings Rate Lowered
4/23 - Live Oak Bank Savings Rate Drops To 0.55%

11/24 - Rate Reduced To 0.60% APY For Savings
11/13 - Live Oak Bank Increases 5-Year CD Rate
9/9 - Live Oak Bank Personal Savings Rate Falls To 0.70% APY Eff. 9/10/2020
8/6 - Early Withdrawal Penalty Waived On CD Accounts
8/5 - Rate Drops To .85% APY Starting On 6 Aug 2020
7/7 - Live Oak Savings Rate Drops To 1% From 1.15%
6/17 - Live Oak Joins The Pack
5/14 - Live Oak Drops Savings Rate To 1.35% APY Effective 5/15/20
4/23 - Live Oak Drops 1-Year CD To 1.60% From 1.90%.
4/22 - Savings Rate Dropping To 1.55% Effective 4/23/20.
4/22 - Live Oak Savings Drops To 1.55%
4/10 - Live Oak Bank 1-Year and 18-Month CDs Offer Top Rates

Reviews (107)

Live Oak Easy CD Opening

Posted by: amanda1130 | 4 hours ago

Opened 2 CD’s this week with no problems. These were my first CDs with Live Oak. They were opened with ACH transfer. I only had to give my external banks routing number and account number. 2 small deposits were deposited into my account which I verified with Live Oak and my accounts were opened. All banks should be so easy. Thank you.

Comment

LOB Stock Down 60+%

Posted by: hugosalinas | May 20, 2022

While the competition is down ~30%, LOB is down twice that. Should we worry?

Does Not Work With Mint

Posted by: savingshunter22 | Jun 21, 2022

Bank still does not work with Mint, when they originally changed to their new interface back in August of last year, I waited about 3 months to see if they would fix, they did not, so I withdrew all of my money from their bank.

Fast forward 10 months and they STILL do not have a working connection, that's unbelievable. I was considering taking advantage of their new rates, but won't even bother since that connectivity is still broke.

Security Risk?

Posted by: Oleg | Jul 27, 2022

The rate looks good, but the only way to fund the new account or link external accounts is by giving Live Oak the username and password for your external account. This seems like a major security compromise. It sounded like the Live Oak customer service rep was reading from a script (which he denied -- also concerning...) as he tried to convince me that this verification service has been authorized by my external bank and that only the external bank would see the login information. The thing is, I'd be typing the external bank credentials on the Live Oak website.

I checked with the external bank and they strongly recommended against disclosing the login credentials. I'll take their advice and look for a bank with better security.

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Health

Data as of Q1 2022

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	58665
Year Established	2008
Employees	816
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.76%
Return on Equity - YTD	21.96%
Annual Interest Income	$92.7MM

Assets and Liabilities
Assets	Q1 2022vs Q1 2021	$8.54B$8.34B
Loans	Q1 2022vs Q1 2021	$6.70B$6.48B
Deposits	Q1 2022vs Q1 2021	$7.65B$6.33B
Equity Capital	Q1 2022vs Q1 2021	$666.6MM$539.2MM
Loan Loss Allowance	Q1 2022vs Q1 2021	$63.1MM$52.4MM
Unbacked Noncurrent Loans	Q1 2022vs Q1 2021	$12.1MM$22.1MM
Real Estate Owned	Q1 2022vs Q1 2021	$198.00K$4.2MM

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
1.75%	-	$5m	High Yield Online Savings
1.75%	-	$5m	Business Savings

APY	MIN	MAX	ACCOUNT NAME
3.00%	$2.5k	$250k	2 Year CD
3.00%	$2.5k	$250k	Business 2 Year CD
2.85%	$2.5k	$250k	18 Month CD
2.85%	$2.5k	$250k	Business 18 Month CD
2.75%	$2.5k	$250k	1 Year CD
2.75%	$2.5k	$250k	Business 1 Year CD
2.50%	$2.5k	$250k	3 Year CD
2.50%	$2.5k	$250k	5 Year CD
2.50%	$2.5k	$250k	6 Month CD
2.50%	$2.5k	$250k	4 Year CD
2.50%	$2.5k	$250k	Business 6 Month CD
2.50%	$2.5k	$250k	Business 3 Year CD
2.50%	$2.5k	$250k	Business 4 Year CD
2.50%	$2.5k	$250k	Business 5 Year CD