Core Viewpoint - Live Oak Bancshares, Inc. has announced the pricing of an underwritten offering of 4,000,000 depositary shares representing a 1/40th ownership interest in a share of 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $25 per depositary share [1][2]. Summary by Sections Offering Details - The Series A Preferred Stock will pay dividends at a rate of 8.375% per annum, payable quarterly starting from September 15, 2025 [2]. - Live Oak has the option to redeem the Series A Preferred Stock on any dividend payment date on or after September 15, 2030, at a redemption price of $1,000 per share, equivalent to $25 per depositary share [2]. - The net proceeds from the offering are intended for general corporate purposes, including supporting balance sheet growth and enhancing the Company's capital position [2]. Underwriters and Closing - Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Investment Bank, and Keefe, Bruyette & Woods, A Stifel Company are serving as joint bookrunning managers for the offering [3]. - The expected closing date for the offering is around August 4, 2025, subject to customary conditions [3]. Regulatory Filings - The Company filed a "shelf" registration statement with the SEC on January 17, 2023, and a preliminary prospectus supplement on July 28, 2025, related to this offering [4]. Company Overview - Live Oak Bancshares, Inc. is a financial holding company and the parent company of Live Oak Bank, focusing on redefining banking through service and technology [8].

Financial Data and Key Metrics Changes - The company reported Q2 earnings per share of $0.51, significantly better than the prior quarter, driven by a 22% linked quarter increase in core operating leverage and a lower quarterly provision expense [9][10] - Top line revenue growth was 10% linked quarter and 20% year over year, showcasing strong earnings power [6][10] - Quarterly net interest income increased by $9 million or 9% linked quarter, with net interest margin expanding by eight basis points for the third consecutive quarter [13][14] Business Line Data and Key Metrics Changes - Q2 loan originations totaled approximately $1.5 billion, a 9% increase linked quarter and a 30% increase compared to Q2 2024, with strong contributions from small business banking and commercial lending segments [12][10] - The Live Oak Express small dollar loan program grew from essentially zero in 2023 to over $300 million in 2024, indicating a long runway for growth [7] - Business checking product balances increased by 36% year to date, contributing to an incremental $500 million of interest-bearing deposits [11][8] Market Data and Key Metrics Changes - Customer deposits grew approximately 6% linked quarter, with balances now about 20% higher than June 30, 2024 [10][11] - The company has seen a significant increase in the percentage of LIBOR customers with both loan and deposit relationships, rising from 3% in 2021 to 18% [8] Company Strategy and Development Direction - The company is focused on modernizing operations to improve efficiency and customer experience, particularly through AI-driven initiatives [17][21] - Key initiatives include relationship building through checking accounts and targeted revenue-generating investments to enhance profitability and growth sustainability [5][6] - The company aims to maintain strong loan growth while managing deposit costs and pricing effectively [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the end of the current small business credit cycle is near, supported by improving credit indicators [6][35] - The company has proactively managed problem loans and improved monitoring processes, leading to a decline in defaults and non-accrual loans [18][19] - Management highlighted the importance of maintaining high underwriting standards to ensure credit quality and borrower performance [39] Other Important Information - The company sold $322 million of guaranteed loans in Q2 for a 7% average premium, generating approximately $22 million in gain on sale [15] - The balance sheet consists of 41% of assets in cash or government guaranteed investments, which is favorable compared to industry standards [20] Q&A Session Summary Question: Growth outlook and impact of payoffs and paydowns - Management noted that paydowns were about $100 million higher than average due to various reasons, but they do not expect this trend to continue [24][25] - The company anticipates loan growth to remain strong, with a pipeline of approximately $3.8 billion [27] Question: Competition and deposit pricing - Management indicated that the market remains competitive, but they see opportunities to continue lowering deposit pricing while supporting growth [33][34] Question: Confidence in the end of the small business credit cycle - Management cited improving credit metrics, declining defaults, and strong borrower performance as reasons for their confidence [35][36] Question: USDA loan sales and market activity - Management explained that the USDA market is reopening due to investor demand for fixed-rate loans with prepayment penalties, but consistency in sales is still desired [46] Question: SBA demand and competition - Management confirmed that demand for SBA loans remains strong, with consistent historical performance despite industry disruptions [48][52]

SECOND QUARTER 2025 July 24, 2025 ©2025 Live Oak Bancshares. All rights reserved. FORWARD LOOKING STATEMENTS Information in this presentation may contain "forward-looking statements" within the Private Securities Litigation Reform Act of 1995. These statements generally relate to our financial condition, results of operations, plans, objectives, future performance or business and usually can be identified by the use of forward-looking terminology such as "may," "will," "would," "should," "could," "expect," ...

Company Performance - Live Oak Bancshares reported quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.52 per share, and down from $0.59 per share a year ago, representing an earnings surprise of -1.92% [1] - The company posted revenues of $143.75 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 4.16%, compared to year-ago revenues of $125.48 million [2] - Over the last four quarters, Live Oak Bancshares has not surpassed consensus EPS estimates, but has topped consensus revenue estimates three times [2] Stock Performance - Live Oak Bancshares shares have lost about 19.1% since the beginning of the year, while the S&P 500 has gained 7.3% [3] - The current consensus EPS estimate for the coming quarter is $0.61 on revenues of $144.9 million, and for the current fiscal year, it is $2.15 on revenues of $561.95 million [7] Industry Outlook - The Zacks Industry Rank for Banks - Southeast is currently in the top 14% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]

[Second Quarter 2025 Earnings Highlights](index=1&type=section&id=Second%20Quarter%202025%20Earnings%20Highlights) Live Oak Bancshares achieved significant Q2 2025 financial growth, driven by record loan production, healthy revenue, and reduced credit loss provisions [Q2 2025 Performance Overview](index=1&type=section&id=Q2%202025%20Performance%20Overview) Live Oak Bancshares achieved significant financial growth in Q2 2025, with substantial increases in net income and diluted EPS, driven by record loan production, healthy revenue, and reduced provision for credit losses - The company achieved **net income of $23.4 million** and **diluted earnings per share of $0.51** in Q2 2025[1](index=1&type=chunk) - CEO James S. (Chip) Mahan III stated that Live Oak Bank performed exceptionally in Q2, benefiting from outstanding growth, healthy revenue, and lower provision expenses[1](index=1&type=chunk) [Key Performance Indicators](index=1&type=section&id=Key%20Performance%20Indicators) In Q2 2025, the company achieved strong growth in loan production, deposits, total assets, net interest income, and pre-tax net income, alongside a decrease in the provision for credit losses - Record **loan production of $1.53 billion** in the second quarter[3](index=3&type=chunk) - **Deposits grew by $198.8 million**, with **total assets increasing 1.7% to $13.83 billion**[3](index=3&type=chunk) - **Net interest income increased by 8.6%**, and the **net interest margin rose from 3.20% to 3.28%**[3](index=3&type=chunk) - **Revenue grew by 14.0%**, **non-interest expense by 6.3%**, and **pre-tax net income by 29.4%**[3](index=3&type=chunk) - **Provision for credit losses was $23.3 million**, a **decrease of $5.7 million**, influenced by moderating credit trends, loan growth, and the macroeconomic environment[3](index=3&type=chunk) [Summary of Key Financial Measures](index=2&type=section&id=Summary%20of%20Key%20Financial%20Measures) Live Oak Bancshares demonstrated strong financial performance in Q2 2025, with significant year-over-year and quarter-over-quarter growth in total revenue and net income, a substantial increase in diluted EPS, and robust loan and lease production Key Financial Measures Summary (Thousands of USD, except per share data) | Metric (Thousands of USD, except per share data) | 2Q 2025 | 1Q 2025 | 2Q 2024 | 2Q 2025 vs 1Q 2025 (%) | 2Q 2025 vs 2Q 2024 (%) | | :------------------------------------------- | :------ | :------ | :------ | :----------------------- | :----------------------- | | Total Revenue | 143,747 | 126,113 | 125,479 | 14.0 | 14.6 | | Non-interest Expense | 89,293 | 84,017 | 77,656 | 6.3 | 15.0 | | Pre-tax Income | 31,202 | 13,132 | 36,058 | 137.6 | -13.5 | | Net Income Attributable to Live Oak Bancshares | 23,428 | 9,717 | 26,963 | 141.1 | -13.1 | | Diluted Earnings Per Share | 0.51 | 0.21 | 0.59 | 142.9 | -13.6 | | Loan and Lease Production | 1,526,592 | 1,396,223 | 1,171,141 | 9.3 | 30.4 | | Total Loans and Leases | 11,364,846 | 11,061,866 | 9,535,766 | 2.7 | 19.2 | | Total Assets | 13,831,208 | 13,595,704 | 11,868,570 | 1.7 | 16.5 | | Total Deposits | 12,594,790 | 12,395,945 | 10,707,031 | 1.6 | 17.6 | [Conference Call Information](index=1&type=section&id=Conference%20Call%20Information) Live Oak Bancshares will host a conference call on July 24, 2025, to discuss the company's financial results and business outlook, with details provided for dial-in and webcast access - The conference call will be held on **July 24, 2025, at 9:00 AM ET**, to discuss the company's financial results and business outlook[2](index=2&type=chunk) - Participation is available via **phone** (US: 800.549.8228, International: +1 646.564.2877, no password required) and **webcast** (investor.liveoakbank.com, registration required)[2](index=2&type=chunk)[3](index=3&type=chunk) [Important Disclosures](index=3&type=section&id=Important%20Disclosures) This section outlines forward-looking statements, company background, and contact information [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements regarding future events or decisions, which are not guarantees of future performance, as actual results may differ materially due to various risks and uncertainties including SBA rule changes, pandemic impacts, banking industry developments, technological risks, competition, and market and economic conditions - Forward-looking statements are not guarantees of future performance, and actual results may differ materially due to factors such as SBA rules, pandemics, banking industry developments, technological risks, competition, and market and economic conditions[6](index=6&type=chunk) - The company explicitly disclaims any obligation to update forward-looking statements, except as required by law[6](index=6&type=chunk) [About Live Oak Bancshares, Inc.](index=3&type=section&id=About%20Live%20Oak%20Bancshares%2C%20Inc.) Live Oak Bancshares, Inc. is a financial holding company and the parent of Live Oak Bank, dedicated to redefining banking through service and technological innovation - **Live Oak Bancshares, Inc. (NYSE: LOB)** is a financial holding company and the parent company of Live Oak Bank[7](index=7&type=chunk) - The company and its subsidiaries partner with businesses focused on service and technology to redefine banking[7](index=7&type=chunk) [Contacts](index=3&type=section&id=Contacts) Contact information for investor relations and media relations is provided - **Investor Relations Contact**: Walter J. Phifer (CFO), Phone: 910.202.6926[8](index=8&type=chunk) - **Media Relations Contact**: Claire Parker (Corporate Communications), Phone: 910.597.1592[8](index=8&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents detailed quarterly and six-month financial statements, including income, balance sheets, and selected financial data [Quarterly Statements of Income](index=4&type=section&id=Quarterly%20Statements%20of%20Income) In Q2 2025, Live Oak Bancshares saw significant growth in both net interest income and non-interest income, driving a substantial increase in net income, with provision for credit losses decreasing quarter-over-quarter but increasing significantly year-over-year Key Quarterly Statements of Income Data (Thousands of USD) | Metric | 2Q 2025 | 1Q 2025 | 2Q 2024 | 2Q 2025 vs 1Q 2025 (%) | 2Q 2025 vs 2Q 2024 (%) | | :----------------------------------------- | :------ | :------ | :------ | :----------------------- | :----------------------- | | Total Interest Income | 224,284 | 213,105 | 198,448 | 5.2 | 13.0 | | Total Interest Expense | 115,063 | 112,573 | 107,128 | 2.2 | 7.4 | | Net Interest Income | 109,221 | 100,532 | 91,320 | 8.6 | 19.6 | | Provision for Credit Losses | 23,252 | 28,964 | 11,765 | -19.7 | 97.6 | | Net Interest Income (after provision for credit losses) | 85,969 | 71,568 | 79,555 | 20.1 | 8.1 | | Total Non-interest Income | 34,526 | 25,581 | 34,159 | 35.0 | 1.1 | | Total Non-interest Expense | 89,293 | 84,017 | 77,656 | 6.3 | 15.0 | | Pre-tax Income | 31,202 | 13,132 | 36,058 | 137.6 | -13.5 | | Net Income Attributable to Live Oak Bancshares | 23,428 | 9,717 | 26,963 | 141.1 | -13.1 | | Diluted Earnings Per Share | 0.51 | 0.21 | 0.59 | 142.9 | -13.6 | [Quarterly Balance Sheets](index=5&type=section&id=Quarterly%20Balance%20Sheets) As of Q2 2025, the company achieved robust quarter-over-quarter and year-over-year growth in total assets and deposits, with significant expansion in loans and leases held for investment, while the allowance for loan and lease losses decreased sequentially but increased year-over-year Key Quarterly Balance Sheet Data (Thousands of USD) | Metric | 2Q 2025 | 1Q 2025 | 2Q 2024 | 2Q 2025 vs 1Q 2025 (%) | 2Q 2025 vs 2Q 2024 (%) | | :----------------------------------------- | :--------- | :--------- | :--------- | :----------------------- | :----------------------- | | Cash and Due from Banks | 662,755 | 744,263 | 615,449 | -11.0 | 7.7 | | Loans and Leases Held for Investment | 11,014,055 | 10,693,911 | 9,172,134 | 3.0 | 20.1 | | Allowance for Loan and Lease Losses | (182,231) | (190,184) | (137,867) | 4.2 | -32.2 | | Net Loans and Leases | 10,831,824 | 10,503,727 | 9,034,267 | 3.1 | 19.9 | | Total Assets | 13,831,208 | 13,595,704 | 11,868,570 | 1.7 | 16.5 | | Non-interest-bearing Deposits | 393,393 | 386,108 | 264,013 | 1.9 | 49.0 | | Interest-bearing Deposits | 12,201,397 | 12,009,837 | 10,443,018 | 1.6 | 16.8 | | Total Deposits | 12,594,790 | 12,395,945 | 10,707,031 | 1.6 | 17.6 | | Borrowings | 107,659 | 110,247 | 117,745 | -2.3 | -8.6 | | Total Liabilities | 12,763,943 | 12,564,257 | 10,907,521 | 1.6 | 17.0 | | Total Stockholders' Equity Attributable to Live Oak Bancshares | 1,062,889 | 1,027,030 | 961,049 | 3.5 | 10.6 | | Total Liabilities and Stockholders' Equity | 13,831,208 | 13,595,704 | 11,868,570 | 1.7 | 16.5 | [Six Months Ended Statements of Income](index=6&type=section&id=Six%20Months%20Ended%20Statements%20of%20Income) For the six months ended June 30, 2025, the company reported year-over-year growth in total interest income and net interest income, but pre-tax income and net income decreased due to a substantial increase in the provision for credit losses Key Six Months Ended Statements of Income Data (Thousands of USD) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------------- | :----------------------------- | :----------------------------- | | Total Interest Income | 437,389 | 390,868 | | Total Interest Expense | 227,636 | 209,437 | | Net Interest Income | 209,753 | 181,431 | | Provision for Credit Losses | 52,216 | 28,129 | | Net Interest Income (after provision for credit losses) | 157,537 | 153,302 | | Total Non-interest Income | 60,107 | 60,256 | | Total Non-interest Expense | 173,310 | 155,393 | | Pre-tax Income | 44,334 | 58,165 | | Net Income Attributable to Live Oak Bancshares | 33,145 | 54,549 | | Diluted Earnings Per Share | 0.72 | 1.20 | [Quarterly Selected Financial Data](index=7&type=section&id=Quarterly%20Selected%20Financial%20Data) In Q2 2025, the company saw growth in diluted EPS and book value, with improved return on assets and equity quarter-over-quarter but a year-over-year decline; net interest margin and efficiency ratio improved sequentially, while net charge-offs significantly increased quarter-over-quarter, and total nonperforming loans decreased sequentially but substantially increased year-over-year Key Quarterly Selected Financial Data | Metric | 2Q 2025 | 1Q 2025 | 2Q 2024 | | :--------------------------------------------------------- | :--------- | :--------- | :--------- | | Diluted Net Income Per Share | $0.51 | $0.21 | $0.59 | | Dividends Declared | $0.03 | $0.03 | $0.03 | | Book Value | $23.36 | $22.62 | $21.35 | | Tangible Book Value | $23.29 | $22.55 | $21.28 | | Return on Average Assets (Annualized) | 0.68 % | 0.30 % | 0.93 % | | Return on Average Equity (Annualized) | 8.85 % | 3.78 % | 11.39 % | | Net Interest Margin | 3.28 % | 3.20 % | 3.28 % | | Efficiency Ratio | 62.12 % | 66.62 % | 61.89 % | | Non-interest Income to Total Revenue | 24.02 % | 20.28 % | 27.22 % | | Loan and Lease Production | $1,526,592 | $1,396,223 | $1,171,141 | | Allowance for Loan and Lease Losses to Loans and Leases Held for Investment | 1.70 % | 1.83 % | 1.57 % | | Net Charge-offs | $31,445 | $6,774 | $8,253 | | Net Charge-offs to Average Loans and Leases Held for Investment (Annualized) | 1.19 % | 0.27 % | 0.38 % | | Total Nonperforming Loans and Leases (Historical Cost) | $396,332 | $422,900 | $160,092 | | Common Equity Tier 1 Capital (to Risk-Weighted Assets) | 10.67 % | 10.67 % | 11.85 % | | Tier 1 Leverage Capital (to Average Assets) | 7.90 % | 8.03 % | 8.71 % | [Quarterly Average Balances and Net Interest Margin](index=8&type=section&id=Quarterly%20Average%20Balances%20and%20Net%20Interest%20Margin) In Q2 2025, the company experienced growth in both average interest-earning assets and average interest-bearing liabilities, with net interest income increasing sequentially and net interest margin rising from 3.20% to 3.28%, indicating improved profitability Key Quarterly Average Balances and Net Interest Margin Data (Thousands of USD) | Metric | 2Q 2025 Average Balance | 2Q 2025 Interest | 2Q 2025 Average Yield/Rate | 1Q 2025 Average Balance | 1Q 2025 Interest | 1Q 2025 Average Yield/Rate | | :----------------------------------------- | :---------------------- | :--------------- | :------------------------- | :---------------------- | :--------------- | :------------------------- | | Interest-earning Bank Deposits | 727,715 | 8,123 | 4.48 % | 581,267 | 6,400 | 4.47 % | | Investment Securities | 1,408,942 | 11,648 | 3.32 % | 1,379,797 | 11,089 | 3.26 % | | Loans Held for Sale | 381,531 | 8,008 | 8.42 % | 407,953 | 8,612 | 8.56 % | | Loans and Leases Held for Investment | 10,843,303 | 196,505 | 7.27 % | 10,388,872 | 187,004 | 7.30 % | | Total Interest-earning Assets | 13,361,491 | 224,284 | 6.73 % | 12,757,889 | 213,105 | 6.77 % | | Total Interest-bearing Deposits | 12,113,282 | 113,380 | 3.75 % | 11,581,550 | 110,888 | 3.88 % | | Borrowings | 109,463 | 1,683 | 6.17 % | 111,919 | 1,685 | 6.11 % | | Total Interest-bearing Liabilities | 12,222,745 | 115,063 | 3.78 % | 11,693,469 | 112,573 | 3.90 % | | Net Interest Income | | 109,221 | 2.95 % | | 100,532 | 2.87 % | | Net Interest Margin | | | 3.28 % | | | 3.20 % | [Non-GAAP Reconciliation](index=9&type=section&id=Non-GAAP%20Reconciliation) This section provides a reconciliation of GAAP to non-GAAP financial measures, offering additional insights into company performance [GAAP to Non-GAAP Reconciliation](index=9&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliation) The company provides a reconciliation of GAAP to non-GAAP financial measures, including tangible stockholders' equity, tangible assets, tangible book value per share, and efficiency ratio, which management uses to assess performance and provide comparable information to investors and analysts Key GAAP to Non-GAAP Reconciliation Data (Thousands of USD) | Metric | 2Q 2025 | 1Q 2025 | 2Q 2024 | | :----------------------------------------- | :---------- | :---------- | :---------- | | Total Stockholders' Equity | $1,067,265 | $1,031,447 | $961,049 | | Less: Goodwill | 1,797 | 1,797 | 1,797 | | Less: Other Intangible Assets | 1,491 | 1,529 | 1,644 | | Tangible Stockholders' Equity | $1,063,977 | $1,028,121 | $957,608 | | Tangible Book Value Per Share | $23.29 | $22.55 | $21.28 | | Total Assets | $13,831,208 | $13,595,704 | $11,868,570 | | Tangible Assets | $13,827,920 | $13,592,378 | $11,865,129 | | Tangible Stockholders' Equity to Tangible Assets | 7.69 % | 7.56 % | 8.07 % | | Efficiency Ratio | 62.12 % | 66.62 % | 61.89 % | | Pre-tax Net Income | $54,454 | $42,096 | $47,823 | - The company believes these non-GAAP measures provide a meaningful basis for period-to-period comparisons, assisting regulators, investors, and analysts in analyzing the company's operating performance or financial condition[16](index=16&type=chunk)

Core Viewpoint - Live Oak Bancshares, Inc. reported strong financial performance in the second quarter of 2025, with significant increases in net income and revenue, driven by loan growth and lower provision expenses [1][5]. Financial Performance - Net income attributable to Live Oak Bancshares, Inc. for Q2 2025 was $23.4 million, or $0.51 per diluted share, representing a 141.1% increase compared to Q1 2025 [4][12]. - Total revenue for Q2 2025 was $143.7 million, up 14.0% from $126.1 million in Q1 2025 [4][5]. - Noninterest expenses increased by 6.3% to $89.3 million from $84.0 million in Q1 2025 [4][12]. - Income before taxes surged to $31.2 million, a 137.6% increase from $13.1 million in Q1 2025 [4][12]. Loan and Lease Production - Loan and lease production reached a record $1.53 billion, with loans and leases originated totaling $1.53 billion, a 9.3% increase from $1.40 billion in Q1 2025 [5][6]. - Total loans and leases increased by 2.7% to $11.36 billion from $11.06 billion in Q1 2025 [4][6]. Asset and Deposit Growth - Total assets grew by 1.7% to $13.83 billion from $13.60 billion in Q1 2025 [6][12]. - Total deposits increased by 1.6% to $12.59 billion from $12.40 billion in Q1 2025 [6][12]. Interest Income and Margin - Net interest income rose by 8.6% to $109.2 million from $100.5 million in Q1 2025 [4][12]. - Net interest margin improved by eight basis points, increasing from 3.20% to 3.28% [5][12]. Provision for Credit Losses - Provision expense for credit losses decreased by $5.7 million to $23.3 million, reflecting moderating credit trends and loan growth [5][12].

Core Viewpoint - Live Oak Bancshares, Inc. will report its second quarter 2025 financial results on July 23, 2025, after U.S. financial markets close, followed by a conference call on July 24, 2025, to discuss the results and business outlook [1]. Group 1 - The financial results announcement is scheduled for July 23, 2025, after market close [1]. - A conference call to discuss the financial results will take place on July 24, 2025, at 9:00 a.m. ET [1]. - The conference call will be accessible via telephone and webcast, with a supplementary slide presentation available prior to the event [2]. Group 2 - Live Oak Bancshares, Inc. is a financial holding company and the parent company of Live Oak Bank, focusing on redefining banking through service and technology [3]. - The company aims to partner with businesses that share a similar innovative focus [3].

Core Viewpoint - Live Oak Bancshares has appointed Patrick T. McHenry to its board of directors, effective May 21, 2025, which is expected to enhance the company's leadership in serving small businesses [1][2]. Company Overview - Live Oak Bancshares, Inc. is a financial holding company and the parent company of Live Oak Bank, focusing on redefining banking through service and technology partnerships [4]. Leadership Appointment - Patrick T. McHenry brings extensive experience in financial services and public policy, having served 20 years in Congress and as the former Chairman of the House Financial Services Committee [2][3]. - McHenry's expertise includes cryptocurrency, capital formation, AI, fintech, data privacy, and corporate governance, which aligns with Live Oak's mission [2][3]. Strategic Focus - McHenry emphasizes the importance of small businesses in the U.S. economy and appreciates Live Oak Bank's innovative approach to supporting American entrepreneurs [3]. - The company aims to leverage McHenry's background to further its mission of serving small businesses, particularly in North Carolina and nationwide [3].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2025 or o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to ________. Commission file number: 001-37497 LIVE OAK BANCSHARES, INC. North Carolina 26-4596286 (State or other jurisdiction of incorporati ...

Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (NYSE: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoak.bank. About Wonderschool Wonderschool's comprehensive technology and business support platform is designed to address every aspect of the child care and early learning ecosystem. Wondersc ...