secwatch.observer — SEC 8-K summary
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Issuer:     Live Oak Bancshares, Inc. (LOB)
CIK:        0001462120
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001462120-23-000048
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462120/000146212023000048/0001462120-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462120/000146212023000048/lob-20230725.htm
  HTML page:      https://secwatch.observer/filing/0001462120-23-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer