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Jun 30, 2024
Live Oak Q2 2024 Earnings Report
Live Oak delivered a solid quarter with growth in loans, deposits and revenue.
Key Takeaways
Live Oak Bancshares reported a net income of $27.0 million, or $0.59 per diluted share, for the second quarter of 2024. The company saw growth in loans, deposits, and revenue, driven by its focus on serving small businesses and maintaining a strong credit portfolio.
Net income for the second quarter of 2024 was $27.0 million, or $0.59 per diluted share.
Total revenue increased to $125.479 million, up 8.0% from Q1 2024 and up from $108.458 million in Q2 2023.
Loan and lease originations totaled $1.171 billion, a 45.5% increase from the first quarter of 2024.
Total deposits increased to $10.71 billion, a 3.1% increase compared to March 31, 2024.
Live Oak
Live Oak
Forward Guidance
The company did not provide forward guidance in the earnings report.