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Jun 30, 2020
Live Oak Q2 2020 Earnings Report
Reported net income due to impact of COVID-19 pandemic and provided capital to small businesses through PPP.
Key Takeaways
Live Oak Bancshares, Inc. reported a net income of $3.8 million, or $0.09 per diluted share, for the second quarter of 2020. The results were impacted by the COVID-19 pandemic, but the company delivered over $1.7 billion in loans through the Paycheck Protection Program.
Net income was $3.8 million, or $0.09 per diluted share.
Loans and leases originated totaled $2.18 billion, including $1.74 billion in PPP loans.
Total deposits increased to $5.87 billion.
The company increased long term borrowings by $1.72 billion through the PPPLF.
Revenue by Segment
Forward Guidance
Forward-looking statements involve risks and uncertainties, and actual results may differ materially. Factors include changes in SBA rules, regulations or loan products, the potential impacts of the COVID-19 pandemic, competition from other lenders, and the Company's ability to attract and retain key personnel.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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