secwatch.observer — SEC 8-K summary
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Issuer:     Live Oak Bancshares, Inc. (LOB)
CIK:        0001462120
Form:       8-K
Filed at:   2025-11-12T23:59:59+00:00
Accession:  0001462120-25-000096
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Live Oak Bancshares to restate cash flow statements for FY2024 and Q1-Q2 2025; material weakness identified
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- Misclassification of loan participation sale proceeds between operating and investing activities in cash flow statements.
- Restatement covers FY2024 10-K, Q1 and Q2 2025 10-Qs; no impact on net income, balance sheet, or regulatory capital.
- Material weakness in internal control over financial reporting for cash flow classification; KPMG report on ICFR no longer reliable.
- Amended filings expected by Nov 17, 2025; remediation planned by 2025 10-K filing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462120/000146212025000096/0001462120-25-000096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462120/000146212025000096/lob-20251110.htm
  HTML page:      https://secwatch.observer/filing/0001462120-25-000096

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