---
schema_version: "secwatch.filing_event.v1"
accession: "0001462120-23-000048"
form_type: "8-K"
ticker: "LOB"
cik: "0001462120"
company_name: "Live Oak Bancshares, Inc."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T03:02:55.424717+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Live Oak Bancshares Q2 net income $17.5M ($0.39 EPS); NPLs double qoq to $44.9M

## Summary
- Net income $17.5M ($0.39 diluted EPS) vs $0.4M ($0.01) Q1 2023 and $97.0M ($2.16) Q2 2022.
- Total revenue $108.5M (+7% qoq); net interest margin 3.29% (down 17bps); provision for credit losses $13M.
- Nonperforming loans doubled qoq to $44.9M (0.61% of HFI loans at historical cost) from $22.0M (0.30%).
- Loan originations $861M (down 16.5% qoq); deposit growth $457M to $9.88B; borrowings $28.3M.
- Effective tax rate 7.5% vs 89% in Q1 2023 due to discrete stock compensation items.

## SEC filing metadata
- accession: 0001462120-23-000048
- form_type: 8-K
- ticker: LOB
- cik: 0001462120
- company_name: Live Oak Bancshares, Inc.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462120/000146212023000048/0001462120-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462120/000146212023000048/lob-20230725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001462120-23-000048
- JSON: https://secwatch.observer/filing/0001462120-23-000048.json
- Plain text: https://secwatch.observer/filing/0001462120-23-000048.txt

## Key facts
- Earnings Releases
  Live Oak Bancshares, Inc. reported second quarter ended June 30, 2023 results: revenue $ 108,458, net income $17.5 million, EPS $0.39 per diluted share.
  - Period: second quarter ended June 30, 2023
  - Revenue: $ 108,458
  - Net income: $17.5 million
  - EPS: $0.39 per diluted share
  - Result: reported results
  source text: to their needs.” Second Quarter 2023 Key Measures (Dollars in thousands, except per share data) Increase (Decrease) 2Q 2023 1Q 2023 Dollars Percent 2Q 2022 Total revenue (1) $ 108,458 $ 101,596 $ 6,862 7 % $ 208,463 Total noninterest expense 76,457 78,962 (2,505) (3) 80,879 Income before taxes 18,973 3,613 15,360 425 122,317 Effective tax rate 7.5 % 89.0 % n/a
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462120/000146212023000048/0001462120-23-000048-index.htm

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