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Sep 30, 2023
Live Oak Q3 2023 Earnings Report
Reported net income of $39.8 million, driven by strong loan and lease production and an increase in net interest income.
Key Takeaways
Live Oak Bancshares reported a strong third quarter with a net income of $39.8 million, or $0.88 per diluted share. The company saw growth in total revenue, driven by increases in both net interest income and noninterest income. Loan and lease originations were up 24.6% from the previous quarter, and total deposits increased to $10.00 billion.
Net income for the third quarter of 2023 was $39.8 million, or $0.88 per diluted share.
Total revenue increased by 17% compared to the second quarter of 2023.
Loan and lease originations increased by 24.6% compared to the second quarter of 2023.
Total deposits reached $10.00 billion, an increase of $124.5 million from the previous quarter.
Revenue by Segment
Forward Guidance
Live Oak will host a conference call to discuss the company's financial results and business outlook tomorrow, October 26, 2023, at 9:00 a.m. ET.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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