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Mar 31, 2024
Live Oak Q1 2024 Earnings Report
Live Oak's Q1 2024 performance reflected resilience with balance sheet growth and customer service, despite industry challenges.
Key Takeaways
Live Oak Bancshares reported a net income of $16.5 million, or $0.36 per diluted share, for the first quarter of 2024. The company saw growth in its loan and lease portfolio and total deposits, while also managing noninterest expenses effectively.
Net income for Q1 2024 was $16.5 million, or $0.36 per diluted share.
Total loan and lease portfolio increased by 2.2% compared to the previous quarter, reaching $9.22 billion.
Total deposits increased to $10.38 billion, a $108.3 million increase from the previous quarter.
Noninterest expense decreased due to lower impairment charges related to renewable energy tax credit investments.
Revenue by Segment
Forward Guidance
Live Oak did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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