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It didn't take long for Live Oak to explode onto the SBA lending scene. Though it has just $330 million in assets, CEO Chip Mahan's latest banking venture trails only Wells Fargo and U.S. Bank on the government's list of the most active SBA lenders.
May 28 -
Live Oak Bancshares is quickly expanding both sides of its business announcing a partnership with Fidelity that will give its namesake SBA lender access to fresh investment advisor borrowers, and a $9 million round for its cloud-computing tech offshoot, nCino.
June 11 -
Seoul's Hana Financial Group no longer plans to acquire a 51% ownership stake in Saehan Bancorp of Los Angeles.
April 9 -
The Federal Reserve Board has approved Hana Financial Group Inc.'s acquisition of indirect controlling interests in two U.S. units of Korea Exchange Bank.
February 9
The Federal Reserve Board has unanimously approved acquisitions by Hana Financial Group in Seoul, Korea, and Live Oak Bancshares in Wilmington, N.C.
Hana
It is Hana's first acquisition of a U.S. commercial bank. With assets of $260.4 billion, Hana is the third-largest banking organization in Korea. The Korean-American-owned BNB has $320.1 million of assets and four offices in New York and New Jersey.
"As a result of the incorporation of BNB Bank, we have the complete system to provide comprehensive financial services in the U.S., including corporate financial service and import-export trading financial service," a Hana spokesperson said in a
In February 2012, Hana
The Live Oak deal the Fed approved was for the North Carolina bank's acquisition of Government Loan Solutions in Cleveland. The $369.4-million asset company will engage in nonbanking activities with the purchase of Government Loan Solutions, which offers support services for customers with government-guaranteed loans.
Earlier this year, American Banker