WILMINGTON – A 10-year old bank from Wilmington is now the top company from North Carolina to be featured on Fortune’s 100 Fastest-Growing Companies for 2019.
Live Oak Bancshares, a bank holding company, ranked 36th among the world’s top performers in revenues, profits and stock returns.
Launched in 2009, Live Oak Bank, a subsidiary of Live Oak Bancshares Inc., is one of the nation’s leading originators of small business loans. To date, it’s lent more than $9 billion to small business owners nationwide.
The company has $264 million in revenue past four quarters and a 40 percent three-year annual growth rate, according to Fortune’s stats.
Live Oak also founded nCino, the cloud-based lending platform in 2012 and then spun it out as an independent company.
“Technology and service are at the heart of our business and as we grow, we will continue to invest innovatively to change financial services for the better,” said Live Oak Bancshares Chairman and CEO James S. “Chip” Mahan, III in a statement.
PRA Health Sciences also made the list, ranking 87 with $2.8 million in revenue past four quarters.
On Monday the firm announced it has expanded Symphony Health, its data solutions division, by entering into a strategic partnership with Close-Up International, a Latin American-based provider of medical prescription and sales audits.