1 Number That Shows Why Live Oak Bank Is Crushing the Competition
The banking industry isn't the most exciting from the standpoint of investors, because you don't often find companies that give you growth stock potential. However, if you dig deep enough, you do find a bank stock that qualifies. One such company is Live Oak Bancshares (NASDAQ: LOB), the bank that small businesses turn to.
Live Oak's strong focus on small businesses is helping it crush its competition. And one number that illustrates Live Oak's dominance is 2.3 billion. That's the total value in dollars of the loans Live Oak has made through the Small Business Administration (SBA) lending program in 2021. To put this in perspective, Huntington Bancshares and Newtek Business Services Corp., second and third on SBA's list, made $928 million and $859 million in loans through the same program.
Live Oak's focus on small businesses makes it a solid investment, but it's actually another development that could drive the business higher going forward: a growth boom in small businesses.
Source Fool.com
