Website www.liveoakbank.com Founded 2007 | Traded as NASDAQ: LOB Number of employees 312 Parent organization Live Oak Bancshares | |
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Industry Financial services, SBA Loans Key people James Slaughter Mahan III, Chairman and CEOSteven Brett Caines, CFONeil Lawrence Underwood, President and COO | ||
Live Oak Bancshares, Inc. (Live Oak or Live Oak Bank) is an American financial services company. Live Oak specializes in originating SBA loans for new and expanding businesses. The bank is headquartered in Wilmington, North Carolina, with an office in California, in Santa Rosa. Unlike other banks, Live Oak does not use branches, instead originating loans and receiving deposits entirely online. The company was founded by James Mahan, who also founded Cardinal Bank and S1 Corporation.
History
The company was founded in 2007, as Live Oak Lending Company. The bank's headquarters were designed by LS3P Associates. Live Oak filed intent to go public in June 2015. Sandler O'Neill and Partners, KBW, and SunTrust served as the company's advisers for the deal.
In July 2016, Live Oak Bank went public as Live Oak Bancshares.