Can Live Oak Bancshares Keep the Good Times Rolling?
Live Oak Bancshares (NASDAQ: LOB) had a tremendous year in 2020. The regional bank's focus on small businesses paid off handsomely, boosted by the Paycheck Protection Program (PPP). The bank was able to capitalize on the federal lending program because of its close relationships with small-business customers and its technological platform that streamlines the lending process.
While the bank performed well in 2020, it didn't happen overnight. Live Oak has built up expertise with small businesses in a variety of industries over the past decade. While management at Live Oak is happy about its growth, investments in technology have it even more excited about the bank's future.
Live Oak saw impressive 122% growth in loan and lease originations in 2020, bringing total originations to $4.5 billion. The growth was helped largely by the PPP lending program. However, Live Oak still saw loans and leases grow 34% from last year, excluding PPP loans.
Source Fool.com
