secwatch.observer — SEC 8-K summary
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Issuer:     Live Oak Bancshares, Inc. (LOB)
CIK:        0001462120
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001462120-24-000034
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Live Oak Bancshares Q1 2024 net income $16.5M ($0.36 EPS); loans up 2.2% QoQ
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- Net income $16.5M ($0.36 diluted EPS) vs $0.01 a year ago; total revenue $116.2M down 2.9% QoQ but up 14.4% YoY.
- Loan portfolio grew to $9.22B (+2.2% QoQ, +12.2% YoY); originations $805M down 18% QoQ.
- Net interest income $90.1M, NIM 3.33% (up 1bp QoQ); provision for credit losses $16.4M up from $9.0M QoQ.
- Noninterest expense $78.7M down 15.6% QoQ due to absence of $14.6M impairment in Q4.
- Borrowings increased $100M via 5.95% fixed-rate 60-month term loan to enhance bank capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462120/000146212024000034/0001462120-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462120/000146212024000034/lob-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001462120-24-000034

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