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Overview / Commentary
877-890-5867
1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is headquartered in Wilmington and is the 11th largest bank in the state of North Carolina. It is also the 439th largest bank in the nation. It was established in 2008 and as of March of 2017, it had grown to 416 employees at 1 location. Live Oak Bank's savings rates are 3X the national average, and it boasts an A+ health rating.

Related Posts

Live Oak Bank Ups Savings Account Rate To 1.40% APY - 8/8/2017

Today Live Oak Bank increased its Savings account rate to 1.40% APY. This is the highest rate on a nationally available savings account.

Savings APY Increased To 1.40% - 8/8/2017

Live Oak Bank increased the APY TO 1.40% effective today.

Live Oak Bank (Internet Bank) Ups Savings Account Rate To 1.35% APY - 7/7/2017

Live Oak Bank (internet bank) has raised the rate on its new Savings Account to 1.35% APY. There is no minimum opening deposit, but the maximum balance is capped at $5m.

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Wow The Best Experience!

Posted by: BD | Aug 10, 2017

Only the best people, and they obviously love their bank. Must be why Live Oak is always ranked the best bank to work for in the U.S.! They treated me promptly and with respect. What interest rates on top of it all!!!

Piece Of Cake. - Updated

Called before opening account. Rep answered the phone was pleasant and knowledgable. Answered all my questions. Rep suggested pushing money from external account was faster then initiating transfer from within Live Oak. Opened a account online in less then 10 minutes, was instantly approved, waiting for initial funding transfer. Allows the ability to link 3 external checking or savings accounts. Interest accrued daily and paid monthly. So far the process was easy, painless, and fast. Everything appears to be in order, no problems. Will update once account is funded.

UPDATE

So my account has been open and funded. The initial funding took about four days to post to my Live Oak account. I was told by a rep at Live Oak that pushing money from a external bank is faster (2-3 days compared to 4-5). The website interface is fine and the reps always answer the phone and are knowledgeable. Because of the extended transfer time I take away one star. Besides that no complaints.

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.

Unprofessional..

Posted by: muthuk | Jul 12, 2017

They are very unprofessional. Below is my experience to qualify why,
1. Account opening doesn't mention clearly that they accept applications ONLY from citizens & green card holders & that people waiting for green card & other legal resident aliens would not be accepted, yet they ask & take in your address, email address, social security number, driving license number, etc.
2. While processing they ask you to email soft copies of all these important documents (social security card, driving license, address proofs, etc) to service representative email address before finally saying we do not accept applications without green card..very suspicious practice..be careful dealing with them.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #58665
Year Established2008
Employees416
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.5%
Return on Equity - YTD16.19%
Annual Interest Income$20.5MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$1.86B$1.21B
LoansQ1 2017vs Q1 2016$1.49B$842.3MM
DepositsQ1 2017vs Q1 2016$1.64B$1.06B
Equity CapitalQ1 2017vs Q1 2016$170.7MM$113.7MM
Loan Loss AllowanceQ1 2017vs Q1 2016$18.2MM$8.6MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$0$0
Real Estate OwnedQ1 2017vs Q1 2016$1.7MM$3.0MM
  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.

Savings APY Increased To 1.40%

FrankSavage   |  
Live Oak Bank increased the APY TO 1.40% effective today.

Savings Account APY Increased To 1.35%

FrankSavage   |  
Live Oak Bank has increased their Savings Account APY to 1.35%.
https://www.liveoakbank.com/personal-banking/

CD Rate Increases

ChasR   |  
Live Oak just increased its posted CD rates. There's nothing earth-shattering, but the most competitive new rates seem to be 1.70% APY for 2-year CDs and 1.80% APY for 3-year CDs.

Savings Account

ChasR   |  
I just noticed that Live Oak is offering a savings account product on its website. The APY is 1.25%. If I'm not mistaken, previously the bank only offered CD accounts online.

Rates
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Live Oak Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%-$5mSavings Account

Live Oak Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%$2,500$250k5 Year CD
1.90%$2,500$250k4 Year CD
1.80%$2,500$250k3 Year CD
1.70%$2,500$250k2 Year CD
1.60%$2,500$250k18 Month CD
1.50%$2,500$250k1 Year CD
1.35%$2,500$250k6 Month CD
Locations


Live Oak Bank Locations
Live Oak Banking Company1757 Tiburon DriveWilmington, NC 28403