---
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"
generated_at: "2026-06-20T09:25:18.421150+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Live Oak Q4 net income plummets to $1.8M, $0.04 EPS; full-year EPS $3.92, up 6% YoY

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462120-23-000005
- JSON: https://secwatch.observer/filing/0001462120-23-000005.json
- Plain text: https://secwatch.observer/filing/0001462120-23-000005.txt

## Key facts
- Earnings Releases
  Live Oak Bancshares, Inc. reported the year ended December 31, 2022 results: revenue $ 565,493, net income $ 176,208, EPS 3.92.
  - Period: the year ended December 31, 2022
  - Revenue: $ 565,493
  - Net income: $ 176,208
  - EPS: 3.92
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/0001462120-23-000005-index.htm
- Earnings Releases
  Live Oak Bancshares, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $ 104,973, net income $ 1,792, EPS 0.04.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $ 104,973
  - Net income: $ 1,792
  - EPS: 0.04
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/0001462120-23-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.