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Mar 31, 2023
Live Oak Q1 2023 Earnings Report
Reported first quarter results with solid deposit growth and a record for production backed by strong liquidity and healthy credit.
Key Takeaways
Live Oak Bancshares, Inc. reported first quarter 2023 net income of $398 thousand, or $0.01 per diluted share. The company experienced continued deposit growth and a record first quarter for production.
Net income for Q1 2023 was $398 thousand, or $0.01 per diluted share.
Total deposits increased to $9.42 billion, a $537.1 million increase compared to the previous quarter.
Loan and lease originations totaled $1.03 billion, a decrease of $146.8 million from the previous quarter but an increase of $165.8 million from Q1 2022.
Net interest income was $82.0 million compared to $85.9 million for the fourth quarter of 2022.
Live Oak
Live Oak
Forward Guidance
Live Oak Bancshares did not provide specific forward guidance in this earnings report.