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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.
Live Oak
Live Oak
Live Oak Revenue by Segment
Revenue by Segment
Net gains on sales of loans Revenue
CapyFin.comLease income Revenue
CapyFin.comOther noninterest income Revenue
CapyFin.com 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.