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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.
Live Oak
Live Oak
Live Oak Revenue by Segment
Revenue by Segment
Loan servicing Revenue
CapyFin.comNet gains on sales of loans Revenue
CapyFin.comLease income Revenue
CapyFin.comOther noninterest income Revenue
CapyFin.comNet (loss) gain on loans accounted for under the fair value option Revenue
CapyFin.comEquity method investments (loss) income Revenue
CapyFin.comEquity security investments (losses) gains, net Revenue
CapyFin.com Forward Guidance
Live Oak did not provide specific forward guidance in this earnings report.