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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number : 001-37497 LIVE OAK BANCSHARES , INC . ( Exact name of registrant as specified in its charter ) North Carolina ( State or other jurisdiction of incorporation or organization ) 1741 Tiburon Drive , Wilmington , NC ( Address of principal executive offices ) LiveOak BANCSHARES Title of each class Voting Common Stock , no par value per share Registrant's telephone number , including area code : ( 910 ) 790-5867 Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) 26-4596286 ( I.R.S. Employer Identification No. ) 28403 ( Zip Code ) Name of each exchange on which registered The NASDAQ Stock Market LLC LOB NO ☐ NO É Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . YES Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . YES Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . YES > NO Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( §232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . YES > NO ☐ Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Large Accelerated Filer Non - accelerated Filer Accelerated Filer Smaller Reporting Company Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . X Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . < YES □ NO É Indicate by check mark whether registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . The aggregate market value of the voting and non - voting common stock held by non - affiliates of the registrant as of June 30 , 2020 , was approximately $ 442,026,821 . Shares of common stock held by each officer and director have been excluded in that such persons may be deemed to be affiliates . There is no public market for the registrant's non - voting common stock . For purposes of this calculation , the registrant has assumed that the market value of each share of non - voting common stock is equal to a share of voting common stock . APPLICABLE ONLY TO CORPORATE REGISTRANTS : As of February 24 , 2021 , there were 41,845,430 shares of the registrant's voting common stock outstanding and 881,875 shares of the registrant's non voting common stock outstanding . DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's definitive proxy statement for the 2021 Annual Meeting of Shareholders , which the registrant plans to file subsequent to the date hereof , are incorporated by reference into Part III . Portions of the registrant's annual report to shareholders for the year ended December 31 , 2020 , which will be posted on the registrant's website subsequent to the date hereof , are incorporated by reference into Part II .