Live Oak Q1 net income $398K ($0.01 EPS) vs $0.76 year ago; revenue down 8%

Live Oak Bancshares, Inc.

2023-Q1 EPS reported $0.01

Net income $398K, diluted EPS $0.01 compared to $0.76 in Q1 2022.
Total revenue $101.6M, down 8% from $110.4M a year ago; net interest margin 3.46% (down 30bp QoQ).
Loan originations $1.03B (+19% YoY); total loans $8.22B, up 21.5% YoY.
Deposits $9.42B (+23% YoY); borrowings reduced to $30.8M from $196.9M a year ago.
Provision for credit losses $19.0M; net charge-offs $6.7M (0.38% annualized) vs $2.4M in Q1 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Live Oak Bancshares, Inc. reported the first quarter ended March 31, 2023 results: revenue $ 101,596, net income $ 398, EPS 0.01.

Period: the first quarter ended March 31, 2023
Revenue: $ 101,596
Net income: $ 398
EPS: 0.01
Result: reported results

Exact text from the filing

Total revenue (1) $ 101,596 $ 104,973 $ (3,377) (3) % $ 110,447 Total noninterest expense 78,962 84,585 (5,623) (7) 65,714 Income before taxes 3,613 717 2,896 404 42,897 Effective tax rate 89.0 % (149.9) % n/a n/a 19.6 % Net income $ 398 $ 1,792 $ (1,394) (78) % $ 34,509 Diluted earnings per share 0.01 0.04 (0.03) (75) 0.76

View on SEC.gov

3 earnings releases filed in the last 30 days. Browse all earnings releases →

Live Oak Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001462120-23-000034

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.