Live Oak Bancshares, Inc. — fact timeline

Walter J. Phifer departed as Interim Principal Accounting Officer at Live Oak Bancshares, Inc..

“Mr. Diffley replaces Walter J. Phifer who served as interim PAO of the Company since June 16, 2026, as previously announced.”

Matthew S. Diffley was appointed as Principal Accounting Officer at Live Oak Bancshares, Inc..

“Effective July 1, 2026, the Board of Directors of Live Oak Bancshares, Inc., (the “Company”) appointed Mr. Diffley as the Company’s Principal Accounting Officer (“PAO”).”

Walter J. Phifer was appointed as Principal Accounting Officer at Live Oak Bancshares, Inc..

“Effective June 16, 2026, Walter J. Phifer assumed the role of Principal Accounting Officer on an interim basis while the Company completes an external search for a successor to Mr. Sutherland.”

J. Wesley Sutherland departed as Chief Accounting Officer at Live Oak Bancshares, Inc..

“On June 18, 2026, Live Oak Bancshares, Inc. (the “Company”) announced that J. Wesley Sutherland will no longer serve as the Chief Accounting Officer of the Company or its subsidiary Live Oak Banking Company (the “Bank”).”

Live Oak Bancshares, Inc. shareholders approved Ratification of the Selection of KPMG, LLP as Independent Auditor of the Company for 2026 at the 2026-05-19 meeting.

“Ratification of the Selection of KPMG, LLP as Independent Auditor of the Company for 2026 42,118,705 28,462 12,726 __”

Live Oak Bancshares, Inc. shareholders approved Advisory proposal to approve compensation paid to the Company's named executive officers at the 2026-05-19 meeting.

“Advisory proposal to approve compensation paid to the Company’s named executive officers 31,451,567 4,197,280 35,512 6,475,534”

Live Oak Bancshares, Inc. shareholders approved Approval of the Company's 2026 Employee Stock Purchase Plan at the 2026-05-19 meeting.

“Approval of the Company’s 2026 Employee Stock Purchase Plan 35,593,365 45,945 45,049 6,475,534”

Live Oak Bancshares, Inc. shareholders approved Approval of the Company's 2026 Stock Incentive Plan at the 2026-05-19 meeting.

“Approval of the Company’s 2026 Stock Incentive Plan 25,509,462 9,353,674 821,223 6,475,534”

Live Oak Bancshares, Inc. shareholders approved Election of Directors at the 2026-05-19 meeting.

“Shareholders elected Tonya W. Bradford, William H. Cameron, David G. Lucht, Jeffrey W. Lunsford, James S. Mahan III, Patrick T. McHenry, Miltom E. Petty, Neil L. Underwood, Yousef A. Valine, and William L. Williams III to the Board of Directors for terms of one year”

Live Oak Bancshares, Inc. reported first quarter ended March 31, 2026 results: net income $27.9 million, EPS $0.60 per diluted common share.

“NC, April 22, 2026 - Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or “the Company”) today reported first quarter of 2026 net income attributable to common shareholders of $27.9 million, or $0.60 per diluted common share. Live Oak’s performance in the quarter, compared to the fourth quarter of 2025 and first quarter of 2025, includes these notable items: •”

Live Oak Bancshares, Inc. reported that prior financial statements should not be relied upon.

“(the “Company”), in consultation with KPMG LLP (“KPMG”), the Company’s independent registered public accounting firm, concluded that the Company will amend its 2024 Annual Report on Form 10-K (the “FY2024 Form 10-K”) and the Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2025 and June 30, 2025, respectively (collectively, the “Q1 and Q2 2025 Form 10-Qs”) to restate the Consolidated Financial Statements for each of the periods included in those filings in order to restate the Statements of Cash Flows and related notes as further described below. The FY 2024 Form 10-K and the Q1 and Q2 2025 Form 10-Qs are collectively referred to herein as the “Prior Filings.” In preparing the Company’s Consolidated Statements of Cash Flows for the quarter ended September 30, 2025, an error was identified in the classification of cash flows between operating and investing activiti”

Live Oak Bancshares, Inc.: Filed Articles of Amendment to establish series of preferred stock (Series A Non-Cumulative Perpetual Preferred Stock) (effective 2025-07-31).

“On July 31, 2025, the Company filed the Articles of Amendment with the Secretary of State of North Carolina, establishing the authorized number of shares of Series A Preferred Stock as 100,000 and providing for the voting and other powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations and restrictions related to the Series A Preferred Stock.”

Patrick Timothy McHenry was appointed as Board member at Live Oak Bancshares, Inc..

“appointed Patrick Timothy McHenry to serve as a Board member, effective as of May 21, 2025.”

Diane B. Glossman departed as Director at Live Oak Bancshares, Inc..

“On February 11, 2025, Diane B. Glossman notified the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) that she has decided not to stand for re-election to the Board of Directors at the Company’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”).”

Live Oak Bancshares, Inc. reported first quarter ended March 31, 2024 results: revenue $116,208, net income $16,548, EPS $0.36.

“from the crowd.” First Quarter 2024 Key Measures (Dollars in thousands, except per share data) Increase (Decrease) 1Q 2024 4Q 2023 Dollars Percent 1Q 2023 Total revenue (1) $ 116,208 $ 119,683 $ (3,475) (2.9) % $ 101,596 Total noninterest expense 78,679 93,204 (14,525) (15.6) 78,962 Income before taxes 21,165 17,484 3,681 21.1 3,613 Effective tax rate 21.8 %”

Glen F. Hoffsis departed as Director at Live Oak Bancshares, Inc..

“On April 1, 2024, Glen F. Hoffsis informed the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) and Live Oak Banking Company, the wholly owned bank subsidiary of the Company (the “Bank”), that in the event he is reelected as a director at the Company’s 2024 annual meeting of shareholders, he intends to serve for an additional year and retire from the Boards of Directors of the Company and the Bank effective at the Company’s 2025 annual meeting of shareholders.”

Casey S. Crawford resigned as Director at Live Oak Bancshares, Inc..

“On February 15, 2024, Casey S. Crawford informed the Board of Directors of Live Oak Bancshares, Inc. (the “Company”) and Live Oak Banking Company, the wholly owned bank subsidiary of the Company, that he will be resigning as a director of each, effective immediately.”

Live Oak Bancshares, Inc. reported the year ended December 31, 2023 results: net income $73.9 million, EPS $1.64 per diluted share.

“Net income for the year ended December 31, 2023, totaled $73.9 million, or $1.64 per diluted share.”

Live Oak Bancshares, Inc. reported the fourth quarter ended December 31, 2023 results: net income $16.2 million, EPS $0.36 per diluted share.

“Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or “the Company”) today reported fourth quarter of 2023 net income of $16.2 million, or $0.36 per diluted share.”

Walter J. Phifer was appointed as Chief Financial Officer at Live Oak Bancshares, Inc..

“On November 14, 2023, the board of directors of the Company and the Bank appointed Walter J. Phifer as Chief Financial Officer of the Company and the Bank, effective January 1, 2024.”

William J. Losch, III was appointed as President at Live Oak Bancshares, Inc..

“Effective November 14, 2023, William J. Losch, III, was appointed as President of the Company.”

Neil L. Underwood resigned as President at Live Oak Bancshares, Inc..

“On November 14, 2023, Neil L. Underwood, President of Live Oak Bancshares, Inc. (the “Company”), the holding company for Live Oak Banking Company (the “Bank”), resigned from his role as President of the Company.”

Live Oak Bancshares, Inc. reported third quarter ended September 30, 2023 results: revenue $127,301, net income $39,793, EPS 0.88.

“business owners.” Third Quarter 2023 Key Measures (Dollars in thousands, except per share data) Increase (Decrease) 3Q 2023 2Q 2023 Dollars Percent 3Q 2022 Total revenue (1) $ 127,301 $ 108,458 $ 18,843 17 % $ 141,610 Total noninterest expense 74,262 76,457 (2,195) (3) 83,048 Income before taxes 42,760 18,973 23,787 125 44,393 Effective tax rate 6.9 % 7.5 % n/a”

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.

“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”

Live Oak Bancshares, Inc. shareholders approved Ratification of FORVIS, LLP as the Company's independent auditors for 2023 at the 2023-05-16 meeting.

“Shareholders ratified FORVIS, LLP as the Company's independent auditors for 2023”

Live Oak Bancshares, Inc. shareholders approved Non-binding, advisory proposal to approve compensation paid to the Company's named executive officers at the 2023-05-16 meeting.

“Shareholders approved a non-binding, advisory proposal to approve compensation paid to the Company's named executive officers”

Live Oak Bancshares, Inc. shareholders approved Amendment of the Company's Amended and Restated 2015 Omnibus Stock Incentive Plan to increase the number of shares of voting common stock issuable under such plan at the 2023-05-16 meeting.

“Shareholders approved an amendment of the Company's Amended and Restated 2015 Omnibus Stock Incentive Plan to increase the number of shares of voting common stock issuable under such plan”

Live Oak Bancshares, Inc. shareholders approved Election of Directors at the 2023-05-16 meeting.

“Shareholders elected Tonya W. Bradford, William H. Cameron, Casey S. Crawford, Diane B. Glossman, Glen F. Hoffsis, David G. Lucht, James S. Mahan III, Miltom E. Petty, Neil L. Underwood, Yousef A. Valine, and William L. Williams III to the Board of Directors for terms of one year”

Live Oak Bancshares, Inc. reported the first quarter ended March 31, 2023 results: revenue $ 101,596, net income $ 398, EPS 0.01.

“Total revenue (1) $ 101,596 $ 104,973 $ (3,377) (3) % $ 110,447 Total noninterest expense 78,962 84,585 (5,623) (7) 65,714 Income before taxes 3,613 717 2,896 404 42,897 Effective tax rate 89.0 % (149.9) % n/a n/a 19.6 % Net income $ 398 $ 1,792 $ (1,394) (78) % $ 34,509 Diluted earnings per share 0.01 0.04 (0.03) (75) 0.76”

Live Oak Bancshares, Inc. reported the year ended December 31, 2022 results: revenue $ 565,493, net income $ 176,208, EPS 3.92.

“Year Over Year Highlights (Dollars in thousands, except per share data) Increase (Decrease) 2022 2021 Dollars Percent Total revenue (1) $ 565,493 $ 456,985 $ 108,508 24 % Total noninterest expense 314,226 230,987 83,239 36 Income before taxes 210,324 210,788 (464) — Effective tax rate 16.2 % 20.8 % n/a n/a Net income $ 176,208 $ 166,995 $ 9,213 6 % Diluted earnings per share 3.92 3.71 0.21 6”

Live Oak Bancshares, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $ 104,973, net income $ 1,792, EPS 0.04.

“Total revenue (1) $ 104,973 $ 141,610 $ (36,637) (26) % $111,394 Total noninterest expense 84,585 83,048 1,537 2 59,698 Income before taxes 717 44,393 (43,676) (98) 47,778 Effective tax rate (149.9) % 3.4 % n/a n/a 36.9 % Net income $ 1,792 $ 42,868 $ (41,076) (96) % $30,147 Diluted earnings per share 0.04 0.96 (0.92) (96) $ 0.66”

Yousef Aziz Valine was appointed as Board member at Live Oak Bancshares, Inc..

“Effective September 15, 2022, the Board of Directors (the “Board”) of Live Oak Bancshares, Inc. (the “Company”) appointed Yousef Aziz Valine to serve as a Board member until the Company’s next annual meeting of shareholders.”

Casey Stuart Crawford was appointed as Board member at Live Oak Bancshares, Inc..

“Effective July 20, 2022, the Board of Directors (the “Board”) of Live Oak Bancshares, Inc. (the “Company”) appointed Casey Stuart Crawford to serve as a Board member”