HIGHOutside partyLoan_portfolio
SBA-guaranteed loans
“10-K Item 1: 'The Company predominantly originates loans partially guaranteed by the U.S. Small Business Administration (the “SBA”)'”
LOB · Concentration risk · 10-K extracted
Live Oak Bancshares (LOB) concentration risks
Updated
The most significant concentration Live Oak Bancshares discloses is SBA-guaranteed loans, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Live Oak Bancshares’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inRegulatory
banks with total assets exceeding $10 billion
“10-K Item 1A: 'We are subject to heightened regulatory requirements because our total assets exceed $10 billion.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-19Live Oak Bancshares' concentration risk is rooted in its lending model and its regulatory tier. The bank predominantly originates loans partially guaranteed by the U.S. Small Business Administration, a high-share dependency that reflects the core of Live Oak's business model rather than a diversified commercial bank's typical loan mix — a change in SBA program terms, guarantee levels, or government funding could disproportionately affect origination volume and credit performance given how central this channel is to the franchise. Separately, the company discloses a medium-share structural exposure tied to crossing the $10 billion total-assets threshold, which subjects it to heightened regulatory requirements — a scale-driven, structural feature of growing past a specific regulatory tier rather than dependence on any single counterparty or program. Netting these out, the SBA-loan concentration is the more idiosyncratic and consequential exposure, since it ties directly to a single government program's continuity and terms, while the heightened regulatory-scrutiny exposure is a structural cost of scale that most banks crossing the same asset threshold would also face, and is less likely on its own to be a distinguishing risk to the investment case.
For the engine’s reasoning on LOB’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Banks - Regional
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AMAL | Amalgamated Financial Corp. | 2 | 1 | 0 | 3 |
| ACNB | ACNB Corporation | 1 | 1 | 0 | 2 |
| ALRS | Alerus Financial Corporation | 1 | 1 | 0 | 2 |
| LOB● | Live Oak Bancshares, Inc. | 1 | 1 | 0 | 2 |
| AMTB | Amerant Bancorp Inc. | 0 | 1 | 1 | 2 |
| ABCB | Ameris Bancorp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.