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Sep 30, 2020
Live Oak Q3 2020 Earnings Report
Reported net income of $33.8 million, driven by loan and lease origination and financial technology investments.
Key Takeaways
Live Oak Bancshares reported a strong third quarter in 2020, with net income significantly increasing to $33.8 million, or $0.81 per diluted share, compared to $3.9 million, or $0.09 per diluted share, in the third quarter of 2019. The quarter benefited from nearly $1 billion in loan and lease originations and non-cash gains from financial technology investments.
Net income for the third quarter of 2020 was $33.8 million, or $0.81 per diluted share.
Loan and lease originations reached nearly $1 billion, excluding Paycheck Protection Program activity.
The company experienced increased valuations on several financial technology investments.
Total loan and lease portfolio increased to $6.23 billion, up 87.2% year-over-year.
Live Oak
Live Oak
Forward Guidance
The press release does not include forward guidance.