Live Oak Bancshares (NASDAQ:LOB) is the bank holding company for Live Oak Bank, a digital community bank headquartered in Wilmington, North Carolina. Founded in 2008 by industry veteran Troy McQuagge, the company pioneered a niche banking model that focuses on small and middle-market businesses within select industry verticals. By combining specialized sector expertise with an efficient digital platform, Live Oak seeks to streamline the lending process and deliver tailored financial solutions across the United States.
Live Oak Bank offers a range of deposit products, treasury management services, and commercial lending solutions. Its primary lending specialties include veterinary and animal health, dental practices, mortgage finance, franchising, and healthcare services. Utilizing a centralized call center and proprietary technology, Live Oak is able to maintain a branchless footprint while providing clients with efficient digital interfaces, industry-focused underwriting, and dedicated relationship teams.
Following its initial public offering on the Nasdaq under the ticker symbol LOB in October 2018, Live Oak Bancshares has continued to expand its product suite and geographic reach. The company’s management, led by founder and CEO Troy McQuagge, emphasizes disciplined loan growth, rigorous credit standards, and operational scalability. Executive leadership and the board of directors collaborate to ensure strong corporate governance, proactive risk management, and ongoing engagement with shareholders.
Serving businesses in all 50 states through a centralized digital platform and Wilmington-based contact centers, Live Oak Bank delivers consistent lending practices and industry expertise nationwide. With a history of targeted expansion and a focus on combining human insight with advanced technology, Live Oak Bancshares aims to drive long-term performance while maintaining the community banking ethos that underpins its founding principles.
