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Dec 31, 2022
Live Oak Q4 2022 Earnings Report
Reported a net income of $1.8 million, with loan originations exceeding $1 billion.
Key Takeaways
Live Oak Bancshares reported a mixed fourth quarter in 2022. While loan originations remained strong at over $1 billion, net income decreased significantly compared to the previous quarter and the same period last year. Total revenue also saw a decrease, while noninterest expenses increased, impacting overall profitability.
Net income decreased to $1.8 million, or $0.04 per diluted share, a significant drop from both the previous quarter and Q4 2021.
Loan and lease originations totaled $1.18 billion, marking a 17% increase from the third quarter of 2022.
Total deposits increased to $8.88 billion, reflecting growth of $480.0 million compared to the previous quarter.
Noninterest income decreased due to lower equity method investment income and reduced gains on sales of loans.
Live Oak
Live Oak
Forward Guidance
Live Oak will host a conference call tomorrow, January 26, 2023, at 9:00 a.m. ET to discuss the company’s financial results and business outlook.