2018 Press Releases

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06/14/18Live Oak Bank Surpasses $500 Million in Renewable Energy Loans
WILMINGTON, N.C., June 14, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank has reached a milestone in closing over 100 renewable energy loans in just a year and a half, providing more than $500 million in financing to renewable energy project developers nationwide. Live Oak is the largest USDA Rural Energy for America (REAP) lender in the nation and the second largest USDA Business and Industry Program Lender in 2017, according to data from the USDA, and made its first renewable energy loan in 2016.... 
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05/31/18Live Oak Bank Surpasses $100 Million in Insurance Loans
WILMINGTON, N.C., May 31, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank has reached a milestone in closing more than $100 million in financing to the insurance industry nationwide including retail agents, managing general agencies, and third-party administrators. Live Oak is one of the top insurance lenders in the country, according to data from the Small Business Administration, and has been lending to the industry since 2015. The team is led by General Manager Kelly Drouillard, CPCU, ... 
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05/30/18Live Oak Bank Announces Ryan Furstenau and John Randall Join Mergers & Acquisitions Team
WILMINGTON, N.C., May 30, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank announces Ryan Furstenau and John Randall will serve as a senior loan officers for the bank’s mergers and acquisitions team. Furstenau and Randall will specialize in business acquisitions, real estate equipment and partner buyouts. “Ryan and John are exceptional additions to our M&A team. Selling or merging a business is incredibly complex and their strengths in helping customers navigate the M&A process will be an ass... 
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05/22/18Live Oak Bank Announces New Lending Segment for Franchise Restaurants
WILMINGTON, N.C., May 22, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank announced today it has officially launched a new lending division focused on financing for the franchise restaurant industry.  The vertical marks Live Oak’s 18th industry specific lending division and will include all franchise businesses from quick service and fast-casual to full-service dining.  Live Oak Bank assembled an experienced team to provide flexible lending solutions to current and prospective business owners within... 
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05/03/18Live Oak Bank Named to Bankrate’s List of Best Online Savings Accounts
WILMINGTON, N.C., May 03, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank has been named by BankRate.com as one of the nation’s best choices for online savings accounts. Live Oak’s high-yield online savings account was awarded the top ranking for the ease of use category.   “We understand that customers today want easy-to-use, secure, high-yield online options for their personal savings and we work very hard to deliver an unprecedented banking experience for them,” said Mark Moroz, Live Oak’s direct... 
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04/30/18Canapi Inc. Names Timur Davis as Principal
WILMINGTON, N.C., April 30, 2018 (GLOBE NEWSWIRE) -- Canapi Inc. announced today the appointment of Timur Davis as principal for the fintech-focused company. Canapi Inc., a wholly owned subsidiary of Live Oak Banchares (NASDAQ: LOB), is a fintech-focused company that aims to bring innovation, efficiency and excellence to the forefront of t... 
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04/25/18Live Oak Bancshares, Inc. Reports First Quarter 2018 Results
WILMINGTON, N.C., April 25, 2018 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (Nasdaq:LOB) (“Live Oak” or “the Company”) today reported first quarter net earnings available to common shareholders of $12.5 million, or $0.30 per diluted share, compared to $6.1 million, or $0.17 per diluted share, for the first quarter of 2017. “We kicked off the year in fine fashion with a very strong performance in the first quarter.  We enjoyed 43% growth in our loan and lease portfolio compared to one yea... 
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04/23/18Live Oak Bancshares Names Huntley Garriott as President of Live Oak Bank
Huntley Garriott, previously with Goldman Sachs, assumes role from Scott Custer who will continue to serve in a senior leadership position WILMINGTON, N.C., April 23, 2018 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (“Live Oak”) announced today that Huntley Garriott, former partner at Goldman Sachs, will bring his expertise to Live Oak Bank by joining as president. Live Oak expects that he will join by October 1 and will bring a wealth of experience as the bank continues to expand into new... 
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04/19/18Live Oak Bank Names Susan Janson Chief Risk Officer
WILMINGTON, N.C., April 19, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank announced today the appointment of Susan Janson as chief risk officer for the bank.   Janson assumed the role effective April 16, and will oversee risk management, including regulatory relations and compliance.  “Susan’s extensive experience and deep understanding of sound governance practices will play an integral role in Live Oak’s ability to scale our business model to better serve entrepreneurs and small business owners... 
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04/12/18Live Oak Bank Announces John Wahl Joins Mergers & Acquisitions Team
WILMINGTON, N.C., April 12, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank announces John Wahl will serve as a senior loan officer for the bank’s mergers and acquisitions team. Wahl specializes in business acquisitions including partner buyouts and stock purchases, owner-occupied real estate with and without tenant improvements, ground-up construction and start-up businesses. Wahl joins Live Oak as a seasoned lender, with more than 13 years of Small Business Administration (SBA) lending experience.... 
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04/11/18Live Oak Bancshares, Inc. Announces Date of First Quarter 2018 Financial Results
WILMINGTON, N.C., April 11, 2018 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (“Live Oak”) (Nasdaq:LOB) today announced that it will report its first quarter 2018 financial results after U.S. financial markets close on Wednesday, April 25, 2018. In conjunction with this announcement, Live Oak will host a conference call to discuss the company's financial results and business outlook on Thursday, April 26, 2018, at 9:00 a.m. ET. To access this call, dial (844) 743-2494 (domestic) or (661) 378... 
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03/15/18Live Oak Bank Announces Mark Cyrus Joins Automotive Care Lending Team
WILMINGTON, N.C., March 15, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank announces Mark Cyrus will serve as a senior loan officer for the bank’s automotive care lending team, which focuses exclusively on financing for businesses that provide quick lube services, tire centers, service and maintenance shops, collision shops, paint and body shops, and select auto part franchises nationwide. Cyrus joins Live Oak as a seasoned lender, with more than 20 years’ experience in commercial and Small Busines... 
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03/06/18Live Oak Bank Launches New Inventory Growth Loan™ for Cemeteries
WILMINGTON, N.C., March 06, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank (Live Oak), which specializes in funeral home and cemetery lending, has launched a new conventional loan product called the Inventory Growth Loan™. This innovative product allows cemeterians nationwide to expand their mausolea and columbaria inventory faster and more securely. It’s also ideal for funeral homes seeking to add a memorial garden or columbarium. The Inventory Growth Loan™ is specifically designed to function within... 
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02/21/18Canapi Inc. Invests in Greenlight Financial Technology, Inc.
Partnership Brings Innovative Digital Banking Solutions to the Fingertips of Parents & Children WILMINGTON, N.C., Feb. 21, 2018 (GLOBE NEWSWIRE) -- Canapi Inc. announced today it is investing in fintech company Greenlight Financial Technology, Inc., creator of the smart debit card for kids, teens, and college students, to transform the way families are banking. ... 
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02/09/18Canapi Inc. Launches to Accelerate Digital Banking Transformation
WILMINGTON, N.C., Feb. 09, 2018 (GLOBE NEWSWIRE) -- Live Oak Banchares (NASDAQ:LOB) today announced it has launched Canapi Inc. (Canapi), formerly known as Live Oak Ventures, to transform how financial services are delivered to customers. With a goal of being a catalyst for the best in fintech, Canapi aims to create an ecosystem of like-minded companies that focus on digital banking transformation. “Canapi invests in companies that supply banks and credit unions with innovative technology t... 
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01/29/18Live Oak Bank Surpasses $350 Million in Self-Storage Loans
WILMINGTON, N.C., Jan. 29, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank (“Live Oak”) has reached a milestone in closing its 165th self-storage loan in December 2017 providing more than $350 million in loans to self-storage company owner-operators nationwide. Live Oak was the largest self-storage lender in the nation in 2016, according to data from the U.S. Small Business Administration (SBA), and made its first self-storage loan in 2015. Led by self-storage industry veteran, Terry Campbell, Live... 
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01/24/18Live Oak Bancshares, Inc. Reports Fourth Quarter 2017 Results
WILMINGTON, N.C., Jan. 24, 2018 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (Nasdaq:LOB) (“Live Oak” or “the Company”) today reported fourth quarter net earnings available to common shareholders of $71.7 million, or $1.74 per diluted share, compared to $5.5 million, or $0.16 per diluted share, for the fourth quarter of 2016.  The fourth quarter of 2017 included a pretax gain of $68.0 million related to an equity method investment in Apiture, LLC ("Apiture"), an $18.9 million revaluation of t... 
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01/17/18Live Oak Bank Announces Jennifer Williams Joins Renewable Energy Lending Team
WILMINGTON, N.C., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank announces Jennifer Williams will serve as a senior loan officer for the bank’s renewable energy lending team, which focuses exclusively on utility-scale solar, energy storage and waste-to-energy project financing nationwide. Williams has spent nearly a decade in solar energy finance, including roles at Sol Systems, Self-Help Credit Union and Ventures Fund, Mosaic and Sungevity. In her work prior to joining the Live Oak t... 
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01/10/18Live Oak Bancshares, Inc. Announces Date of Fourth Quarter 2017 Financial Results
WILMINGTON, N.C., Jan. 10, 2018 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (“Live Oak”) (Nasdaq:LOB) today announced that it will report its fourth quarter 2017 financial results after U.S. financial markets close on Wednesday, January 24, 2018. In conjunction with this announcement, Live Oak will host a conference call to discuss the company's financial results and business outlook on Thursday, January 25, 2018, at 9:00 a.m. ET. To access this call, dial (844) 743-2494 (domestic) or (66... 
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