secwatch.observer — SEC 8-K summary
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Issuer:     Live Oak Bancshares, Inc. (LOB)
CIK:        0001462120
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001462120-23-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462120/000146212023000034/0001462120-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462120/000146212023000034/lob-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001462120-23-000034

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