secwatch.observer — SEC 8-K summary
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Issuer:     Live Oak Bancshares, Inc. (LOB)
CIK:        0001462120
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001462120-23-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/0001462120-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462120/000146212023000005/lob-20230125.htm
  HTML page:      https://secwatch.observer/filing/0001462120-23-000005

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