Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · North Carolina, the state note

Live Oak Banking Co.

Wilmington, North Carolina · $15.96B in assets · beside the 11 other the Southeast banks over $10B (the state alone holds too few in the band to rank)

The filing

Live Oak Banking Co. is the ninth largest of the 12 the Southeast banks nearest its size over $10B, with $15.96B in assets at 30 June 2026. Loans are 89.5% of deposits, 8th of 12 against a median of 86.0%, and equity is 7.6% of assets, the lowest in the cohort. Loans grew +15.6% in the year, 4th of 12, and deposits grew 16.2%; the cohort's median loan growth is +6.5%.

Noncurrent loans are 4.01% of the book, the highest in the cohort against a median of 0.73%; 0.17% is 30 to 89 days past due, and the allowance covers them 0.4 times. Net charge-offs are 0.65% of loans, the highest in the cohort. Commercial real estate is 23.8% of loans, the lowest in the cohort against a median of 39.5%, and 227% of capital, below the 300% screen, with construction at 70% against the 100% screen. CRE has grown +111.7% over 36 months, past the guidance's 50% prong.

Return on assets is 0.96%, 8th of 12 against a median of 1.22%, on an efficiency ratio of 53.2%, 5th of 12. Five years ago it was 1.77%. The question is where the nonperforming loans sit by category, and whether the allowance and the capital behind them hold under a loss path.

SBA 7(a), FY2008 to FY2026

Live Oak Banking Co. is the 3rd largest 7(a) lender into California of 512, with $2.95B across 2,312 loans, 4.5% of everything approved in the state (Wells Fargo Bank National Association leads with $5.56B). 691 of its 1,757 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Commercial real estate against capital

Among its peers

Institution	Assets	ROA	Efficiency	NPA / loans	Net charge-offs	Allowance / loans	Loans / deposits	Equity / assets
Bankunited National Association	$34.86B	0.9%	57.7%	1.69%	0.36%	0.9%	82.3%	9.1%
United Bank	$33.64B	1.5%	46.3%	0.44%	0.09%	1.2%	91.6%	16.7%
City National Bank of Florida	$29.11B	1.2%	45.1%	0.81%	0.09%	1.1%	93.2%	10.6%
United Community Bank	$28.99B	1.4%	57.0%	0.51%	0.18%	0.8%	83.0%	11.8%
Ameris Bank	$28.42B	1.2%	61.0%	0.57%	0.20%	1.6%	99.8%	14.3%
Wesbanco Bank Inc	$27.75B	1.4%	52.9%	0.86%	0.09%	1.1%	89.7%	15.2%
Townebank	$22.62B	2.1%	57.8%	0.22%	0.10%	1.3%	82.2%	13.2%
Seacoast National Bank	$21.34B	0.9%	59.0%	0.66%	0.10%	1.4%	78.3%	14.2%
Live Oak Banking Co.	$15.96B	1.0%	53.2%	4.01%	0.65%	1.5%	89.5%	7.6%
First Bank	$13.03B	1.5%	49.1%	0.49%	0.05%	1.4%	81.1%	13.6%
Burke & Herbert Bank & Trust Co.	$10.98B	0.9%	69.0%	1.19%	0.03%	1.2%	88.9%	12.1%
Amerant Bank National Association	$10.27B	0.9%	65.1%	2.49%	0.25%	1.2%	82.1%	9.6%