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1741 Tiburon Drive
Wilmington, NC 28403

Live Oak Bank is headquartered in Wilmington and is the 13th largest bank in the state of North Carolina. It is also the 480th largest bank in the nation. It was established in 2008 and as of September of 2016, it had grown to 385 employees at 1 location. Live Oak Bank's CD rates are 50% higher than the national average, and it has an A health rating.

Related Posts

Live Oak Bank (Internet Bank) Increases Short-Term CD Rates - 1/25/2017

Live Oak Bank (internet bank) has raised the rates on its 1-year CD (1.35% APY) and 18-month CD (1.40% APY). Minimum deposit is $2.5k.

Live Oak Bank Increases 1-Year And 18-Month CD Rates - 1/25/2017

Live Oak Bank is staying competitive with its short- and mid-term CDs: 1.35% APY 1-year CD (was 1.30%) 1.40% APY 18-month CD (was 1.35%) Minimum deposit $2,500. Maximum deposit $250,000. Nationally available. Online application

Competitive 12 Month CD At Live Oak, 1.30% APY. - 8/3/2016

Discovered and detailed by Bankaholic's Sabrina Karl. Most recent (Feb 2016) full review from Ken. Live Oak CD FAQ page.

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Reviews (8)

No Problems

Posted by: anon123 | Feb 2, 2016

Opened 2 add-on CDs and got the interest rate as advertised. Also used add-on option without any issues.

One unusual thing: (probably because they only do CDs and more recently money-market accounts) they do NOT have "statements", paper or electronic. Instead, you can just print out your transaction history online. You will get 1099-INT tax forms and a letter when CD matures.

Because of that, would give them 4.5 / 5

Great banking experience

Posted by: Presley | Oct 12, 2015

I have banked with Live Oak Bank for almost 4 years now. My experience has been excellent. I also have many friends and family that bank with Live Oak Bank. They love their experience with Live Oak Bank as well. I have never have to deal with any serious problems. There have been a few minor problems here and there, but that is expected, no bank is perfect. The issues that I had to deal with were mostly about incorrect numbers that were showing up on my statement, a few got charged to my account that should not have gotten charged at all and I had a small issue getting my husband added to the account. Each problem was addressed correctly and immediately. They were resolved in a timely manner and the customer service representative that I was dealing with each time was always polite and seemed more then happy to fix my problem for me. There have been several occasions that I went over in my account, and I just called in and got the fee waved with no problem. The people that work for this bank are friendly and always gave me the impression that they wanted to help me with my problems and they weren't just doing their job.

Amazing Experience

Posted by: shiehp | Mar 5, 2013

Never had such an amiable exprience with a Bank. I have a lot of exprience with Banks. This past year I was looking to get financing to build a Dental office from scratch. I was turned down by 3 Banks and the 4th Bank (AVIDIA BANK) agreed to finance us, but backed off last min. AVIDIA BANK  backed off after giving us a commitment letter. At this time we had already invested around $230,000 on attorney , Architects, Permits, appraisal etc.

The seller was gracious enough to extend the closing 2 more months after he knew what we had been through with AVIDIA BANK. This is when Live oak Bank came on the scene. My project is in Melrose, MA but  Keith Merklin, senior loan officer flew down to meet us in person to discuss the loan. We had exactly 1 month for closing. This guy is really amazing and he made this miracle of closing on the 28th Feb,the last day of closing. The people who worked with Keith were very effecient and through and it was a totally different experience working with Live Oak Bank. Keith is a straight shooter and he tells you exactly where you stand and what can be done, unlike most bankers. This guy has brought my faith back in bankers.

Decent bank

Posted by: wisd | Jul 1, 2016

This bank does everything you expect from a bank.The bank does have fees, but they are not too high and they are very well laid out to the customer, so you understand what you are being charged. I think the bank has decent customer service but not the greatest. I feel the wait times when calling in are a little too long, but overall the staff is friendly and will help you out with all of your questions and concerns. The bank does offer many services when it comes to lending money. I would recommend this bank

Live Oak Bank - Good Rates Plus Good Service

Posted by: Jim Paul | Apr 28, 2015

My experience in dealing with Live Oak Bank was positive all around. Their disclosures were not contradictory and are easy to understand. Paperwork arrived timely and follow up by their staff was professional.

In Response

Posted by: Jake | Mar 1, 2013

The CD disclosure statements are not contradictory.  APY is based on interest being compounded.  If interest payments are withdrawn during the term it reduces the APY.

No Help To Me

Posted by: janfm | Apr 25, 2016

I wanted to open a couple of CD's. Their reviews and rates looked good. I tried to apply online and the automated form kept saying invalid address (at the street address I have lived at for 17 yrs.) Called & spoke to 2 customer service representatives. They were of no help, said if the software did not recognize it as a USPS address I couldn't apply. Have never dealt with a bank so un-eager to take my money. Not good customer service.

Live Oak Bank, Wilmington, NC

Posted by: usst2009 | Feb 25, 2013

The bank seems understaffed for online customers and does not give clear answers to questions.  Its CD account disclosure document is contradictory: For its simple interest-bearing CD products, in one place it says you can withdraw interest that has been posted without penalty, but in another place it says that the APY is affected if you withdraw interest.  Nothwithstanding the great interest rates, I would not take a chance depositing funds with this bank.  Live Oak seems incapable of dealing with banking questions professionally. 


Health Grade Components

FDIC Certificate #58665
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.53%
Return on Equity - YTD16%
Annual Interest Income$41.5MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$1.60B$946.5MM
LoansQ3 2016vs Q3 2015$1.10B$697.2MM
DepositsQ3 2016vs Q3 2015$1.42B$826.8MM
Equity CapitalQ3 2016vs Q3 2015$137.9MM$100.7MM
Loan Loss AllowanceQ3 2016vs Q3 2015$15.2MM$6.2MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$16.00K$0
Real Estate OwnedQ3 2016vs Q3 2015$2.2MM$48.00K
  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.

Live Oak Bank Increases 1-Year And 18-Month CD Rates

Ken Tumin   |  
Live Oak Bank is staying competitive with its short- and mid-term CDs:

1.35% APY 1-year CD (was 1.30%)
1.40% APY 18-month CD (was 1.35%)

Minimum deposit $2,500. Maximum deposit $250,000.

Nationally available. Online application

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Live Oak Bank CD Rates

1.75%$2,500$250k5 Year CD
1.65%$2,500$250k4 Year CD
1.55%$2,500$250k3 Year CD
1.50%$2,500$250k2 Year CD
1.40%$2,500$250k18 Month CD
1.35%$2,500$250k1 Year CD
0.90%$2,500$250k6 Month CD

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