Print
Banking & Finance

Live Oak Bancshares Named In Fortune's 100 Fastest-Growing List

By Johanna Cano, posted Aug 16, 2019
Live Oak Bancshares has been named as one of Fortune’s 100 Fastest-Growing Companies in the world, ranking in as No. 36.

The Wilmington-based company ranked on Fortune's list based on its three-year revenue, profit and stock return performance.

“We strongly believe in a model of soundness, profitability and growth, in that order, and we are proud of the hard work our teams have done to successfully provide American small business owners with the capital they need to support the backbone of our economy,” said Chip Mahan, Live Oak Bancshares chairman and CEO, in a news release. “Technology and service are at the heart of our business and as we grow, we will continue to invest innovatively to change financial services for the better.”

According to Fortune, Live Oak Bancshares had a $264 million revenue and $41 million in net income in the past four quarters and a 40% revenue growth in the past three years.

The company also had a 74% annual earnings per share growth over three years.

Live Oak Bank, a subsidiary of Live Oak Bancshares, launched in 2009 and has lent more than $9 billion to small business owners, according to the release.

Live Oak Bancshares joins three other North Carolina businesses that also ranked on the list, including Southern Pines-based First Bancorp.

Companies that qualify for the ranking must be trading on a major U.S. stock exchange, file quarterly reports with the U.S. Securities and Exchange Commission and have a minimum capitalization of $250 million.

Fortune ranked the companies based on revenue growth rate, earnings per share growth rate and three-year annualized total return for the period ended June 28.

Momo, a China-based internet services and retailing business, ranked as No.1.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Img 1576c1

What’s Next for Equity Investors?

Eddie Nowell - South Atlantic Capital Management Group
Jim ellis headshot 10311631058

5 Tips for Tradeshow and Conference Videos

Jim Ellis - Signal
Michaelhiggins 41019104338

An Undersea Tribute to Life

Michael Higgins - Dignity Memorial

Trending News

Embattled Country Club Aims To Continue Operating After Bankruptcy Filing

Johanna Cano - Sep 20, 2019

Banking On History

Jenny Callison - Sep 20, 2019

'Great Spaces' From The Hipp

Cece Nunn - Sep 20, 2019

Bank Execs Discuss Doing Business Among National, Global Challenges

Christina Haley O'Neal - Sep 20, 2019

Museum Bounces Back After Flo Repairs

Sherri Crawford - Sep 20, 2019

In The Current Issue

MADE: Business Tactics

A manufacturer of tactical equipment for military, law enforcement, competition and concealed carry makes some of its products in Wilmington...


Museum Bounces Back After Flo Repairs

The Cape Fear Museum of History and Science is fully functional once again, nearly a year after sustaining damages from Hurricane Florence....


Downtown Apartment Units On The Rise

Developers and city officials say the demand exists for the supply that’s coming to the Port City’s popular downtown area....

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

August 26, 2019 Power Breakfast: A Healthy Sale?
WILMA's Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`