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Jun 30, 2023
Live Oak Q2 2023 Earnings Report
Reported net income of $17.5 million, or $0.39 per diluted share for the second quarter of 2023.
Key Takeaways
Live Oak Bancshares, Inc. reported a net income of $17.5 million, or $0.39 per diluted share, for the second quarter of 2023. The company's digital lending and deposit franchise demonstrated strength, driving value and innovation for small business customers.
Total loan and lease portfolio was $8.36 billion, up 1.7% from the previous quarter and 18.4% year-over-year.
Total deposits increased to $9.88 billion, a $457.1 million increase compared to the previous quarter.
Net interest income was $84.3 million, compared to $82.0 million for the first quarter of 2023.
Loan and lease originations totaled $861.0 million, a decrease of 16.5% from the first quarter of 2023.
Forward Guidance
The document does not contain any forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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