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Stock impact report

Live Oak Bancshares, Inc. Reports Fourth Quarter 2024 Results

Live Oak Bancshares, Inc. (LOB) 
Last live oak bancshares, inc. earnings: 4/22 04:45 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.liveoakbank.com
Company Research Source: GlobeNewswire
WILMINGTON, N.C., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or “the Company”) today reported fourth quarter of 2024 net income attributable to the Company of $9.9 million, or $0.22 per diluted share. Net income attributable to the Company for the year ended December 31, 2024, totaled $77.5 million, or $1.69 per diluted share. Live Oak’s performance in 2024, includes these notable items: Record year of $5.16 billion of loan production accompanied by strong deposit growth of $1.49 billion, total assets grew by 14.8% to $12.94 billion9% growth in revenue and 3% reduction in noninterest expenses generated 38% growth in pre-provision net revenue1Increased provision expense for credit losses of $44.9 million, or 87.5%, driven by record loan growth combined with the impacts of the current macroeconomic environmentTwo key initiatives saw positive momentum — non-interest bearing deposit growth and small dollar loan production “Live Oak Bank’s four Show less Read more
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