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Dec 31, 2023
Live Oak Q4 2023 Earnings Report
Reported net income of $16.2 million, or $0.36 per diluted share, demonstrating resilience and strength in the market.
Key Takeaways
Live Oak Bancshares reported a fourth-quarter net income of $16.2 million, or $0.36 per diluted share. The company's loan and lease portfolio reached $9.02 billion, with total deposits increasing to $10.28 billion. Net interest income increased to $89.6 million, while noninterest income decreased to $30.1 million.
Net income for Q4 2023 was $16.2 million, or $0.36 per diluted share.
Total loan and lease portfolio reached $9.02 billion, a 2.8% increase from the previous quarter.
Total deposits increased to $10.28 billion, a $271.4 million increase from the previous quarter.
Net interest income increased to $89.6 million, driven by growth in the total loan and lease portfolio.
Live Oak
Live Oak
Live Oak Revenue by Segment
Revenue by Segment
Loan servicing Revenue
CapyFin.comNet gains on sales of loans Revenue
CapyFin.comLease income Revenue
CapyFin.comOther noninterest income Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements that are subject to significant risks and uncertainties, and actual results may differ materially from those presented.
Challenges Ahead
- Changes in Small Business Administration (“SBA”) rules, regulations or loan products, including the Section 7(a) program
- Changes in SBA standard operating procedures or changes in Live Oak Banking Company's status as an SBA Preferred Lender
- Changes in rules, regulations or procedures for other government loan programs, including those of the United States Department of Agriculture
- The impacts of global health crises and pandemics, such as the Coronavirus Disease 2019 (COVID-19) pandemic
- Recent adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity, and regulatory responses to these developments