LIVE OAK BANCSHARES

Key facts

Headquarters

Wilmington, North Carolina, United States

Employees

Unknown

Industries

Banking, Finance, Financial Services

Status

Public (LOB)

Website

www.liveoakbank.com

LinkedIn

Company page

Recent activity at LIVE OAK BANCSHARES

• Nov 12, 2026: SEC 8-K (8.01): On November 12, 2026, Live Oak Bancshares, Inc. completed the issuance and sale of 4,000,000 Depositary Shares in a definitive agreement with underwriters including Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc., RBC Capital Markets, LLC, and UBS Securities LLC. This transaction was conducted under the Company’s Registration Statement on Form S-3 (File No. 333-294092). A legal opinion regarding the legality of the Depositary Shares and the Series B Preferred Stock is attached as Exhibit 5.1 within the filing. Additionally, a press release announcing the closing of the offering was issued on the same day, emphasizing the ongoing financial activities of the Company within the capital markets.
• Nov 05, 2026: SEC 8-K (1.01): On November 4, 2026, Live Oak Bancshares, Inc. entered into a Material Definitive Agreement known as the Underwriting Agreement with Morgan Stanley & Co. LLC and other underwriters. This agreement involves the sale of 4,000,000 depositary shares, each representing a 1/40th ownership interest in a share of the Company’s 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, with a liquidation value of $25 per share. Additionally, the underwriters have a 30-day option to purchase up to an additional 600,000 depositary shares. The transaction is expected to close on or about November 12, 2026, subject to customary closing conditions. This agreement marks a significant step for Live Oak Bancshares in capital-raising efforts, emphasizing enhancing their financial structure.
• Oct 20, 2026: SEC 8-K (5.02):
• Aug 28, 2026: SEC 8-K (8.01): On August 28, 2026, James S. Mahan III, Chairman and CEO of Live Oak Bancshares, Inc., established a prearranged stock trading plan to sell up to 400,000 shares of the Company’s voting common stock. This action is part of his personal long-term financial and tax planning, with sales commencing in November 2026 and concluding in November 2027. The plan is structured to adhere to Rule 10b5-1 under the Securities Exchange Act of 1934, ensuring compliance with insider trading regulations. This strategic move is significant for investors as it indicates the CEO's financial strategies and may affect shareholder perceptions regarding stock liquidity and management's confidence in the company.
• Aug 18, 2026: SEC 8-K (8.01): On August 18, 2026, the Board of Directors of Live Oak Bancshares, Inc. declared a cash dividend of $0.03 per share on its Voting Common Stock and a cash dividend of $0.52344 per depositary share of its 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock. The dividends are set to be payable on September 15, 2026, to shareholders of record as of September 1, 2026. This dividend declaration signifies the company's ongoing commitment to returning value to its shareholders and reflects its financial position and operational stability as of the event date.
• Jul 02, 2026: SEC 8-K (5.02): On June 29, 2026, Matthew S. Diffley joined Live Oak Banking Company as its Chief Accounting Officer. Effective July 1, 2026, he was appointed as the Principal Accounting Officer (PAO) of Live Oak Bancshares, Inc., replacing Walter J. Phifer, who served as interim PAO since June 16, 2026. Mr. Diffley, previously Senior Vice President and Controller at Seacoast Banking Corporation of Florida, is expected to receive a restricted stock unit (RSU) award worth $200,000, vesting over five years. He will also be reimbursed for relocation expenses and participate in employee benefit plans, annual cash bonuses, and equity compensation awards. There are no family relationships or reportable related party transactions concerning Mr. Diffley.
• Jun 18, 2026: SEC 8-K (5.02): On June 18, 2026, Live Oak Bancshares, Inc. disclosed the departure of J. Wesley Sutherland from his position as Chief Accounting Officer effective June 16, 2026. Walter J. Phifer has been appointed as the interim Principal Accounting Officer while the company seeks a permanent successor. Phifer, who joined the Bank in 2015, previously held the position of Chief Financial Officer since January 2024. Sutherland is expected to assist in the transition as a Senior Advisor until his retirement around September 30, 2026. This change in management signals a strategic shift as the company prepares for future leadership transitions.
• May 22, 2026: SEC 8-K (5.02): On May 19, 2026, Live Oak Bancshares, Inc. held its 2026 Annual Meeting of Shareholders where shareholders elected ten new members to the Board of Directors for a term of one year, including Tonya W. Bradford and William H. Cameron, among others. Additionally, shareholders approved the 2026 Omnibus Stock Incentive Plan and the 2026 Employee Stock Purchase Plan, which are designed to enhance employee retention and incentivize performance. This approval takes a significant step in aligning executive compensation with shareholder interests and encourages long-term commitment. The meeting recorded 42,159,893 shares present for voting, establishing a quorum to approve these key management changes and compensation structures.
• May 19, 2026: SEC 8-K (8.01): On May 19, 2026, Live Oak Bancshares, Inc. declared a cash dividend of $0.03 per share on its Voting Common Stock and $0.52344 per depositary share of its 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock. The dividends are payable on June 15, 2026, to shareholders of record as of June 2, 2026. This decision reflects the Company's commitment to returning capital to its shareholders, indicating strong financial performance and stability.
• Feb 19, 2026: SEC 8-K (8.01): On February 19, 2026, Live Oak Bancshares, Inc. announced a cash dividend declaration by its Board of Directors. The Company declared a cash dividend of $0.03 per share of its Voting Common Stock and a cash dividend of $0.52344 per depositary share of its 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock. These dividends are set to be paid on March 15, 2026, to shareholders of record as of March 5, 2026. This action highlights the Company's commitment to returning value to its shareholders and indicates ongoing financial stability.

Leadership

• Ewa Stasiowska, Chief Risk Officer
• Walter J. Phifer, Chief Financial Officer
• William C. (BJ) Losch, President

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Employee benefit plans

LIVE OAK BANCSHARES files 6 employee benefit plans with the U.S. Department of Labor. The next plan year renews in Dec 2026.

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About LIVE OAK BANCSHARES: questions and answers

Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy