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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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