Live Oak Bank


Overview / Commentary
866-518-0286
1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is the 176th 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.

Related Posts

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.

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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 (107)

Live Oak Easy CD Opening

Posted by: |

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.

LOB Stock Down 60+%

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

Does Not Work With Mint

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: |

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
A

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 Established2008
Employees816
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.76%
Return on Equity - YTD21.96%
Annual Interest Income$92.7MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$8.54B$8.34B
LoansQ1 2022vs Q1 2021$6.70B$6.48B
DepositsQ1 2022vs Q1 2021$7.65B$6.33B
Equity CapitalQ1 2022vs Q1 2021$666.6MM$539.2MM
Loan Loss AllowanceQ1 2022vs Q1 2021$63.1MM$52.4MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$12.1MM$22.1MM
Real Estate OwnedQ1 2022vs Q1 2021$198.00K$4.2MM
Rates
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Live Oak Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%-$5mHigh Yield Online Savings
1.75%-$5mBusiness Savings

Live Oak Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$2.5k$250k2 Year CD
3.00%$2.5k$250kBusiness 2 Year CD
2.85%$2.5k$250k18 Month CD
2.85%$2.5k$250kBusiness 18 Month CD
2.75%$2.5k$250k1 Year CD
2.75%$2.5k$250kBusiness 1 Year CD
2.50%$2.5k$250k3 Year CD
2.50%$2.5k$250k5 Year CD
2.50%$2.5k$250k6 Month CD
2.50%$2.5k$250k4 Year CD
2.50%$2.5k$250kBusiness 6 Month CD
2.50%$2.5k$250kBusiness 3 Year CD
2.50%$2.5k$250kBusiness 4 Year CD
2.50%$2.5k$250kBusiness 5 Year 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.