Live Oak Bancshares (LOB) Prices 4.8M Common Stock IPO at $17/Share, the Middle of Expected Range

Live Oak Bancshares, Inc. ("Live Oak")(Nasdaq: LOB), parent company and registered bank holding company of Live Oak Banking Company, today announced the pricing of its initial public offering of 4,800,000 shares of its voting common stock at a price to the public of $17.00 per share.

*** The company was recently looking for a pricing range of $16 to $18 per share.

The voting common stock has been approved for listing on The Nasdaq Global Select Market and is expected to begin trading on July 23, 2015, under the symbol "LOB." The offering is expected to close on or about July 28, 2015.

The underwriters have an option to purchase up to an additional 700,000 shares of voting common stock at the initial public offering price, less the underwriting discount, within 30 days from the date of the offering.

Sandler O'Neill & Partners, L.P., Keefe, Bruyette & Woods, Inc., A Stifel Company and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering.

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