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Live Oak Bank

Overview / Commentary
1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is the 268th largest bank in the nation. It was established in 2008 and as of March of 2019, it had grown to 478 employees. Live Oak Bank's savings rates are 4X the national average, and it boasts an A+ health rating.

Related Posts

CD Rate Drops - 3/20/2019

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

Live Oak Bank Savings Account Now Earns 2.30% APY - 2/23/2019

Live Oak Bank (internet bank) has raised the rate on its High Yield Online Savings Account to 2.30% APY on all balances up to $5 million.

Savings Account Increase - 2/22/2019

Savings account is now 2.3%

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Easy Process.

Posted by: murr9506 | May 26, 2019

I followed the online process to open and fund a one year CD last week and every step was very clear. I called by phone once to make certain that everything was in order and their representative "Abby" was very knowledgeable, professional, and personable and my account was quickly funded. Easy Peasy.

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.

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.

Security Verification Inconvenient (Make Sure Google Maps Is Ready!)

Posted by: offmason | Jul 5, 2019

As someone else stated,their identity verification questions are inconvenient. I didn't want to get the question wrong about the hospital locations, so it took a couple of minutes to verify, and due to the time sensitive questions, it locked me out and requires three (3) separate forms of ID, one of which is a social security card. Out of principle, I don't appreciate a runaround. Going with a different bank.



Health Grade Components

FDIC Certificate #58665
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.75%
Return on Equity - YTD6.66%
Annual Interest Income$51.7MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$4.04B$3.40B
LoansQ1 2019vs Q1 2018$2.74B$2.15B
DepositsQ1 2019vs Q1 2018$3.54B$3.00B
Equity CapitalQ1 2019vs Q1 2018$446.3MM$357.5MM
Loan Loss AllowanceQ1 2019vs Q1 2018$35.1MM$28.3MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$3.5MM$1.1MM
Real Estate OwnedQ1 2019vs Q1 2018$1.4MM$1.5MM
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Live Oak Bank Savings Account Rates

2.30%-$5mSavings Account
1.10%-$5mBusiness Savings

Live Oak Bank CD Rates

2.70%$2.5k$250k5 Year CD
2.70%$2.5k$250k4 Year CD
2.70%$2.5k$250k4 Year Business CD
2.70%$2.5k$250k5 Year Business CD
2.65%$2.5k$250k3 Year CD
2.65%$2.5k$250k3 Year Business CD
2.60%$2.5k$250k1 Year CD
2.60%$2.5k$250k18 Month CD
2.60%$2.5k$250k2 Year CD
2.60%$2.5k$250k1 Year Business CD
2.60%$2.5k$250k18 Month Business CD
2.60%$2.5k$250k2 Year Business CD
2.35%$2.5k$250k6 Month CD
2.35%$2.5k$250k6 Month Business 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

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