{"schema_version":"secwatch.filing_event.v1","accession":"0001462120-23-000005","form_type":"8-K","ticker":"LOB","cik":"0001462120","company_name":"Live Oak Bancshares, Inc.","filed_at":"2023-01-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.087888+00:00","generated_at":"2026-06-20T09:25:18.421150+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Live Oak Q4 net income plummets to $1.8M, $0.04 EPS; full-year EPS $3.92, up 6% YoY","bullets":["Q4 net income $1.8M ($0.04 diluted EPS), down 96% from $42.9M ($0.96) in Q3 2022 and down from $30.1M ($0.66) in Q4 2021.","Total revenue $105.0M, down 26% QoQ, driven by $31.0M drop in equity method income from Payrailz gain not repeating.","Loan originations $1.18B (+17% QoQ); total loan portfolio $7.90B (+6.9% QoQ). Provision for credit losses $19.7M, up from $14.2M in Q3.","Net interest margin 3.76%, down 8 bps QoQ as deposit cost increases outpaced loan yield increases.","Full-year 2022 net income $176.2M ($3.92 EPS), up 6% YoY; total deposits $8.88B, up 25% YoY."],"urls":{"canonical":"https://secwatch.observer/filing/0001462120-23-000005","json":"https://secwatch.observer/filing/0001462120-23-000005.json","markdown":"https://secwatch.observer/filing/0001462120-23-000005.md","text":"https://secwatch.observer/filing/0001462120-23-000005.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/0001462120-23-000005-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/lob-20230125.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T09:25:18.421150+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a88bcf64b216990d02f84548074e1151d8f62977","claim":"Live Oak Bancshares, Inc. reported the year ended December 31, 2022 results: revenue $ 565,493, net income $ 176,208, EPS 3.92.","evidence_excerpt":"Year Over Year Highlights (Dollars in thousands, except per share data) Increase (Decrease) 2022 2021 Dollars Percent Total revenue (1) $ 565,493 $ 456,985 $ 108,508 24 % Total noninterest expense 314,226 230,987 83,239 36 Income before taxes 210,324 210,788 (464) — Effective tax rate 16.2 % 20.8 % n/a n/a Net income $ 176,208 $ 166,995 $ 9,213 6 % Diluted earnings per share 3.92 3.71 0.21 6","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/0001462120-23-000005-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2022"},{"label":"Revenue","value":"$ 565,493"},{"label":"Net income","value":"$ 176,208"},{"label":"EPS","value":"3.92"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"dfa316088e2734a74390183eb0c714c75e9bec65","claim":"Live Oak Bancshares, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $ 104,973, net income $ 1,792, EPS 0.04.","evidence_excerpt":"Total revenue (1) $ 104,973 $ 141,610 $ (36,637) (26) % $111,394 Total noninterest expense 84,585 83,048 1,537 2 59,698 Income before taxes 717 44,393 (43,676) (98) 47,778 Effective tax rate (149.9) % 3.4 % n/a n/a 36.9 % Net income $ 1,792 $ 42,868 $ (41,076) (96) % $30,147 Diluted earnings per share 0.04 0.96 (0.92) (96) $ 0.66","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/0001462120-23-000005-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter ended December 31, 2022"},{"label":"Revenue","value":"$ 104,973"},{"label":"Net income","value":"$ 1,792"},{"label":"EPS","value":"0.04"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}