Live Oak’s Mahan Liquidates a Portion

James S. Mahan III, Chief Executive of Live Oak Bancshares, has seen fit to realise a portion of his holdings. A transaction, or rather a series of them, conducted on March 11th and 12th, disposed of 20,000 shares for approximately $653,000. One trusts the funds will be put to good use; perhaps a small folly, or a particularly robust vintage.

A Modest Adjustment

Metric Value
Shares Sold (Indirect) 20,000
Transaction Value $653,321

The weighted average price, as dutifully recorded by the SEC Form 4, came to $32.67. A price, one imagines, that will scarcely be remembered by the end of the fiscal year.

The Scale of Things

This sale, it appears, represents a trifling 0.31% of Mr. Mahan’s indirect holdings, leaving him with a still-substantial 6,374,875 shares. A sum sufficient, no doubt, to maintain a certain lifestyle. The transaction matched the recent median trade size for his sell transactions, suggesting a degree of consistency, if not inspiration.

The Company Itself

Metric Value
Price (as of 3/21/26) $31.85
Market Capitalization $1.47 billion
Revenue (TTM) $480.78 million
Net Income (TTM) $102.82 million

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A Regional Curiosity

Live Oak Bancshares, based in Wilmington, North Carolina, occupies a niche in the commercial banking world. They proffer the usual array of services – deposit accounts, loans of various descriptions – and, rather prominently, cater to the Small Business Administration. They were, in October 2025, declared the most active SBA 7(a) lender by dollar volume. A distinction, one suspects, that brings with it a great deal of paperwork.

Recent Performance

The fourth quarter of fiscal year 2025 saw revenue increase by a robust 61.75% to $150.93 million. Net income and earnings per share also experienced growth. Yet, despite these figures, the stock has languished, falling 7.29% year to date, with four consecutive weeks of decline as of March 21st. It appears that even a generous flow of SBA loans cannot entirely inoculate a company against the prevailing winds. A somewhat predictable outcome, given the operational focus.

One is left with the impression that Live Oak, while perfectly respectable, is not a stock for the impatient investor. Or, indeed, for anyone expecting a dramatic return. A quiet competence, perhaps, is its greatest virtue, and its most significant limitation.

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2026-03-22 09:03