Mission Statement, Vision, & Core Values of Live Oak Bancshares, Inc. (LOB)

Do you know what drives Live Oak Bancshares, Inc.'s success and commitment to small businesses? Have you ever wondered about the principles that guide their actions and strategic decisions? Understanding a company's mission, vision, and core values offers a deep dive into its very essence.

Live Oak Bancshares Inc. reported a strong performance in 2024, marked by a record $5.16 billion in loan production and a 14.8% increase in total assets, reaching $12.94 billion. Want to explore how these guiding principles translate into tangible results and shape their approach to the financial world?

Live Oak Bancshares, Inc. (LOB) An Overview of

Live Oak Bancshares, Inc. (LOB) is a bank holding company providing various commercial banking products and services to small businesses nationwide. As of April 2025, Live Oak operates primarily through its subsidiary, Live Oak Banking Company. Established with a focus on serving specific niche industries, Live Oak has grown to become a significant player in the small business lending space.

Live Oak specializes in offering:

• Term loans
• Lines of credit
• SBA (Small Business Administration) loans
• USDA (United States Department of Agriculture) loans

These products are tailored to industries such as:

• Veterinary practices
• Healthcare
• Renewable energy
• Agriculture
• Technology

Live Oak employs a digital banking platform to deliver its services, allowing for a nationwide reach without the traditional overhead of extensive branch networks.

In the most recent financial reports, Live Oak Bancshares has demonstrated strong financial performance. The bank reported total revenue of $518.4 million for the year 2024, driven by robust growth in its core lending activities. Specifically, loan originations in the fourth quarter of 2024 reached $789 million, contributing significantly to the overall revenue. The company's net interest margin stood at 3.12%, reflecting efficient management of its interest-earning assets and interest-bearing liabilities. Furthermore, Live Oak's strategic investments in technology and specialized lending sectors have fueled its expansion into new markets, enhancing its revenue diversification.

Live Oak Bancshares, Inc. has emerged as a leader in the financial services industry, particularly known for its focus on small business lending and innovative banking solutions. Want to delve deeper into Live Oak Bancshares, Inc.'s financial health? Read more here: Breaking Down Live Oak Bancshares, Inc. (LOB) Financial Health: Key Insights for Investors

Live Oak Bancshares, Inc. (LOB) Mission Statement

Live Oak Bancshares, Inc. operates with a clear mission: to be America's small business bank.

Live Oak Bank's mission is to create an unprecedented banking experience through service and technology. Venture banking fits naturally within our DNA. We believe deeply in personal service and focus on taking care of our customers throughout the relationship.

Live Oak Bank's mission is to provide innovative financial solutions and exceptional customer service to small and medium businesses.

Live Oak Bancshares has the privilege of helping thousands of passionate, driven entrepreneurs turn their dreams into reality.

The mission statement serves as the guiding principle that drives their actions and decisions every day. It encapsulates their purpose and the values they hold dear as a financial service company dedicated to serving small and medium businesses.

At Live Oak Bank, our mission is to empower small businesses with the financial support they need to thrive and succeed.

This mission is supported by a philosophy that prioritizes know-how, efficiency, and service, setting it apart from other financial institutions.

Core Components of the Mission Statement

Live Oak Bancshares, Inc.'s mission statement is composed of several core components that define its purpose and approach:

• Customer-Centric Approach: Live Oak is committed to putting its customers first and providing them with exceptional service and support. They strive to understand their needs and deliver innovative solutions that help them achieve their financial goals.
• Innovation and Technology Leadership: A focus on leveraging technology to make banking more personalized, accessible, and responsive.
• Commitment to Excellence: The company provides banking services and products that exceed the expectations of their clients. They strive for excellence in everything they do, from customer service to innovative financial solutions.

Vision Statement

The vision of Live Oak Bank is to be the premier financial partner for small and medium businesses, providing innovative banking solutions and exceptional customer service.

They strive to empower entrepreneurs and business owners to achieve their goals and dreams by offering tailored financial products and services that meet their unique needs.

Live Oak's vision is to be the premier digital bank for entrepreneurs, providing innovative solutions and exceptional service.

Core Values

Live Oak Bank's core values are the foundation of everything they do. These values guide their decisions, actions, and interactions with their customers, employees, and community.

The Company's core values of innovation, dedication, ownership, respect and teamwork are pillars of our culture and represent the expectations we have of each and every one of our employees.

Live Oak Bank's core values include:

• Integrity
• Excellence
• Community
• Teamwork
• Respect
• Innovation
• Dedication
• Ownership

These values ensure that Live Oak prioritizes the success of its clients and the communities it serves.

Financial Performance in 2024

Live Oak Bancshares demonstrated strong financial performance in 2024:

• Record loan production of $5.2 billion.
• Total assets grew by $1.7 billion, or approximately 15%, reaching $12.9 billion.
• Total deposits increased by $1.5 billion.
• Non-interest checking balances grew by over $200 million.
• Diluted earnings per share reached $1.69, a 3% increase from 2023.

Live Oak Bancshares, Inc. (LOB) Vision Statement

Live Oak Bancshares, Inc. (LOB) operates with a clearly defined mission, vision, and set of core values that guide its strategic objectives and daily operations. Understanding these foundational elements is crucial for investors, stakeholders, and anyone interested in the company's long-term direction and priorities. As of April 2025, these principles continue to shape LOB's approach to serving small businesses and fostering innovation in the banking sector.

Mission Statement

Live Oak’s mission is to be America’s small business bank. Live Oak focuses on providing financial services to small businesses in specific industries. This specialization allows them to develop deep expertise and tailor their products and services to meet the unique needs of their target clients. This mission is evident in their commitment to understanding the nuances of various sectors and offering customized financial solutions.

Vision Statement

Live Oak's vision is to be the best small business bank in America. This vision underscores their ambition to lead the market by delivering exceptional value and service to small businesses across the nation. This involves not only providing financial capital but also offering expertise, technology, and support to help these businesses thrive. Live Oak strives to create lasting relationships with its clients, built on trust and mutual success.

Core Values

Live Oak Bancshares operates on a foundation of core values that influence its corporate culture and business practices. These values include:

• Customer Focus: Prioritizing the needs and success of small business clients.
• Innovation: Continuously seeking new and better ways to serve customers and improve operations.
• Integrity: Maintaining the highest ethical standards in all interactions and decisions.
• Teamwork: Fostering a collaborative environment where employees work together to achieve common goals.
• Community: Supporting the communities where they operate through philanthropy and volunteerism.

These core values are more than just words; they are reflected in the company’s day-to-day operations and strategic initiatives. For instance, the emphasis on innovation has led to the development of cutting-edge banking technologies designed to streamline processes and enhance the customer experience.

Understanding Live Oak Bancshares' mission, vision, and core values provides valuable insight into its strategic priorities and operational focus. These elements collectively drive the company's commitment to serving small businesses and achieving sustainable growth in the banking industry. For additional insights into Live Oak Bancshares, explore Exploring Live Oak Bancshares, Inc. (LOB) Investor Profile: Who’s Buying and Why?

Live Oak Bancshares, Inc. (LOB) Core Values of

At Live Oak Bancshares, Inc. (LOB), a commitment to core values shapes its operational philosophy and strategic direction. These values guide the company's interactions with customers, employees, and the broader community. Here's an exploration of these values, supported by available information and data.

Customer Focus

LOB emphasizes a deep understanding of its customers' needs, particularly within the small business sector. This focus is evident in its specialized lending approach and the development of tailored financial solutions. The bank's mission is to be America's small business bank, reflected in its focus on specific industries and dedication to helping entrepreneurs succeed. This targeted approach allows LOB to provide expertise and support that larger, more diversified banks may not offer.

LOB's commitment to customer focus is demonstrated through:

• Specialized Lending: Focusing on specific industries to provide tailored financial solutions.
• Relationship Banking: Building long-term relationships with clients, offering personalized support and guidance.
• Customer Service: Prioritizing customer satisfaction through responsive and accessible service channels.

The bank's success in maintaining customer relationships is reflected in its financial performance, with a focus on sustained growth and profitability. For additional insights into LOB's financial health, see Breaking Down Live Oak Bancshares, Inc. (LOB) Financial Health: Key Insights for Investors.

Innovation

LOB embraces innovation to enhance its services and processes, leveraging technology to improve efficiency and customer experience. This includes investments in fintech platforms and the development of digital banking solutions.

Examples of LOB's commitment to innovation include:

• nCino Partnership: LOB has invested in nCino, a cloud banking software company, to enhance its lending processes and customer relationship management.
• API Integration: Utilizing Application Programming Interfaces (APIs) to integrate with other fintech companies and provide seamless services.
• Digital Banking Platform: Developing a user-friendly digital platform that offers customers convenient access to banking services.

These initiatives reflect LOB's dedication to staying at the forefront of the financial industry and adapting to evolving customer needs.

Teamwork

LOB fosters a collaborative work environment where employees are encouraged to share ideas and work together to achieve common goals. This collaborative spirit extends to its partnerships with other organizations and its engagement with the community.

Key aspects of LOB's teamwork value include:

• Cross-Functional Collaboration: Encouraging collaboration between different departments to leverage diverse skills and perspectives.
• Employee Empowerment: Providing employees with the autonomy and resources to make decisions and contribute to the company's success.
• Community Engagement: Partnering with local organizations to support community development and promote social responsibility.

This emphasis on teamwork contributes to a positive and productive work environment, which in turn benefits customers and stakeholders.

Integrity

LOB operates with the highest ethical standards, ensuring transparency and accountability in all its dealings. This commitment to integrity is reflected in its corporate governance practices and its relationships with regulators and stakeholders.

Examples of LOB's commitment to integrity include:

• Ethical Conduct: Adhering to a strict code of ethics that governs employee behavior and business practices.
• Regulatory Compliance: Maintaining full compliance with all applicable laws and regulations.
• Transparent Reporting: Providing clear and accurate financial reporting to stakeholders.

By upholding these standards, LOB builds trust with its customers, employees, and the broader community.

Excellence

LOB strives for excellence in all aspects of its business, from customer service to financial performance. This commitment is reflected in its continuous improvement efforts and its focus on delivering exceptional value to its stakeholders.

Key elements of LOB's pursuit of excellence include:

• Continuous Improvement: Regularly evaluating and improving processes to enhance efficiency and effectiveness.
• Employee Training: Investing in employee training and development to ensure a high level of competence and expertise.
• Performance Measurement: Tracking key performance indicators (KPIs) to monitor progress and identify areas for improvement.

This dedication to excellence drives LOB to achieve its strategic goals and deliver superior results.