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In downtown Wilmington, Live Oak leases space for new small business center


(pictured at right), inclusive small business manager, and Jamar Jenkins
(pictured below), inclusive small business specialist.
“This is the first step … hopefully we can grow it,” said Huntley Garriott, president of Live Oak Bank, on Tuesday morni
ng. “We ve been talking a lot with the local partners that are already working with small businesses, whether that s Genesis Block, Kairos Center, the work StepUp is doing on workforce development.
There s a couple of CDFIs [Community Development Financial Institutions] that we ve been talking to, and we d love to have a collaborative space for folks that are really working to support small businesses.” ....

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Live Oak posts healthy financials, eyes positive trends


 
“It has been a healthy and noisy quarter,” Live Oak’s chairman and CEO James “Chip” Mahan said during the company’s earnings call Thursday. He was referring, in part, to the high level of activity stemming from the most recent round of Paycheck Protection Program (PPP) loans.
 
Huntley Garriott, president of Live Oak Bancshares subsidiary Live Oak Bank, said during the call that the bank’s overall growth trends “remain strong.”
 
And Neil Underwood, president of Live Oak Bancshares, said of the company’s investments, “Things are tracking nicely in the Live Oak Ventures portfolio.”
 
Both revenues and earnings per share beat analysts expectations. The company’s net earnings for the quarter were just over $76 million, 64% more than the $46.5 million it earned in the first quarter of 2020, and about $7.5 million more than earnings in the fourth quarter of 2020. Diluted earnings per share reflected that increase, at $0.88, ....

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Cape Fear Collective in Wilmington seeks to preserve affordable housing through impact investing


Cape Fear Collective acquired 20 properties to preserve as affordable housing using investment funds from Live Oak Bank. (Port City Daily photo/file)
SOUTHEASTERN N.C. – As part of its new impact investment initiative, Cape Fear Collective is buying up properties to preserve as affordable housing in the midst of a hot residential real-estate market.
Live Oak Bank has invested $2.5 million in support of the local organization’s new initiative, Cape Fear Collective Ventures. The project focuses on obtaining capital to put toward solutions for affordable housing, as well as workforce development, small business growth and transportation.
The collective will strategically deploy the funds in marginalized communities without many resources readily available. ....

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Live Oak Bank Announces $2.5 Million Investment with Cape Fear Collective to Bring Affordable ...


Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Live Oak Bank Announces $2.5 Million Investment with Cape Fear Collective to Bring Affordable .
Live Oak Bancshares, Inc.February 4, 2021 GMT
WILMINGTON, N.C., Feb. 04, 2021 (GLOBE NEWSWIRE) Live Oak Bank has announced a $2.5 million investment with Cape Fear Collective designed to support affordable housing solutions in the Wilmington region. The investment is part of a broader initiative through Cape Fear Collective Ventures, a social impact investment initiative aimed at raising capital to scale solutions in affordable housing, workforce development, small business growth and transportation challenges. ....

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