WILMINGTON, N.C., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Synply Inc., a cloud-based technology company dedicated to transforming the loan syndication process for banks. “Live Oak’s entrepreneurial environment is fertile ground for new and exciting companies like Synply to enter the fintech landscape,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer. “After incubating the Synply platform at Live Oak, we ar ...

WILMINGTON, N.C., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. ("Live Oak") (NYSE: LOB) today announced that it will report its third quarter 2024 financial results after U.S. financial markets close on Wednesday, October 23, 2024. In conjunction with this announcement, Live Oak will host a conference call to discuss the company's financial results and business outlook on Thursday, October 24, 2024, at 9:00 a.m. ET. The call will be accessible by telephone and webcast using Conference ID: 044 ...

Shares of Live Oak Bancshares (LOB) have gained 13.4% over the past four weeks to close the last trading session at $39.11, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $49.75 indicates a potential upside of 27.2%. The average comprises four short-term price targets ranging from a low of $46 to a high of $55, with a standard deviation of $4.11. While the lowest estimate indic ...

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 June 30, 2024 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. (Exact name of registrant as specified in its charter) North Carolina ...

Images By Tang Ming Tung My last article regarding Live Oak Bancshares (NYSE:LOB) was more than a year ago, in the midst of the banking crisis triggered by the failure of SVB. At that time, no regional bank managed to perform well, but a recovery process gradually began as the BTFP was launched. At the time I was quite perplexed about LOB's future, which is why my rating was hold. The cost of deposits continued to rise, high interest rates inhibited loan growth, and other banks were not doing much better. A ...

Live Oak Bancshares, Inc. (NYSE:LOB) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET Company Participants Greg Seward – General Counsel and Chief Risk Officer Chip Mahan – Chairman and Chief Executive Officer BJ Losch – President Walt Phifer – Chief Financial Officer Conference Call Participants David Feaster – Raymond James Tim Switzer – KBW Alex Lau – JPMorgan Operator Good morning, ladies and gentlemen, and welcome to the Q2 2024 Live Oak Bancshares Earnings Conference Call. At this time, all l ...

$84 $89 $90 $90 $91 3.29% 3.37% 3.32% 3.33% 3.28% | --- | --- | --- | --- | --- | |-------------------------------|---------|---------|---------|---------| | | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | | Net Spread | 3.78% | 3.80% | 3.71% | 3.70% | | Portfolio Loan Yield | 7.37% | 7.52% | 7.61% | 7.77% | | Deposit Cost | 3.59% | 3.72% | 3.90% | 4.07% | | Industry Deposit COF 11 | 1.63% | 1.98% | 2.26% | 2.43% | | CDs: | | | | | | LOB average CD rate | 3.26% | 3.46% | 3.74% | 4.06% | | | | | | | | CD Maturitie ...

Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the com ...

Financial Performance - Total revenue for Q2 2024 was $125.5 million, an increase of 8.0% from Q1 2024 ($116.2 million) and up from $108.5 million in Q2 2023[2] - Net income for Q2 2024 was $27.0 million, a decrease of 2.3% from Q1 2024 ($27.6 million) and an increase from $17.5 million in Q2 2023[2] - Noninterest income for Q2 2024 was $34.2 million, an increase of $8.1 million from Q1 2024 and up $10.0 million from Q2 2023[6] - Net income for Q2 2024 was $27.0 million, or $0.59 per diluted share, reflecting solid growth in loans, deposits, and revenue[16] - Net interest income for Q2 2024 was $91.3 million, compared to $90.1 million in Q1 2024 and $84.3 million in Q2 2023[21] - Noninterest income for the six months ended June 30, 2024, was $60.3 million, up from $43.7 million for the same period in 2023, indicating a 37.7% increase[56] - The company reported a net income of $54.5 million for the six months ended June 30, 2024, compared to $17.9 million for the same period in 2023, marking a significant increase[56] - Basic earnings per share for the six months ended June 30, 2024, were $1.22, compared to $0.41 for the same period in 2023[56] Loan and Lease Activity - Loans and leases originated in Q2 2024 totaled $1.17 billion, a significant increase of 45.5% compared to Q1 2024 ($805.1 million) and up from $861.0 million in Q2 2023[2] - Total loan and lease portfolio reached $9.54 billion, a 3.4% increase from Q1 2024 and a 14.1% increase year-over-year[18] - Loan and lease originations totaled $1.17 billion in Q2 2024, up $366.0 million, or 45.5%, from Q1 2024[18] - Loans and leases held for investment rose to $9,172,134 million, reflecting a 2.9% increase from Q1 2024[29] - The average yield on loans held for investment was 7.71% for the three months ended June 30, 2024, compared to 7.70% for the previous quarter[45] Asset and Deposit Growth - Total assets as of June 30, 2024, were $11.87 billion, an increase of 3.2% from March 31, 2024 ($11.51 billion)[2] - Total deposits reached $10.71 billion in Q2 2024, up 3.1% from Q1 2024 ($10.38 billion)[2] - Total deposits increased to $10.71 billion, a rise of $323.7 million from Q1 2024 and $827.9 million from Q2 2023[19] - Total assets increased to $11,868,570 million in Q2 2024, up 3.2% from Q1 2024[29] - Total deposits increased to $10.27 billion as of June 30, 2024, from $10.07 billion as of March 31, 2024[45] Credit Losses and Provisions - The provision for credit losses in Q2 2024 was $11.8 million, down from $16.4 million in Q1 2024 and $13.0 million in Q2 2023[9] - Provision for credit losses was $11.8 million in Q2 2024, down 28.1% from Q1 2024[21] - Net charge-offs for loans carried at historical cost were $8.3 million in Q2 2024, compared to $3.2 million in Q1 2024 and $1.2 million in Q2 2023, with a net charge-off percentage of 0.38%[54] - The allowance for credit losses on loans and leases was $137.9 million, representing 1.57% of total loans and leases as of June 30, 2024[9] Efficiency and Ratios - The efficiency ratio improved to 61.89% in Q2 2024, down from 66.89% in Q1 2024[32] - Noninterest expense for Q2 2024 was $77.7 million, unchanged from Q1 2024 and up from $76.5 million in Q2 2023[7] - The net interest margin for Q2 2024 was 3.28%, a decrease of five basis points from Q1 2024[21] - The net interest margin decreased to 3.28% in Q2 2024 from 3.33% in Q1 2024[32] - The ratio of average total loans and leases to average interest-bearing deposits was 91.4% for Q2 2024, up from 90.4% in Q1 2024[19] - The tangible shareholders' equity to tangible assets ratio improved to 8.07% in Q2 2024 from 8.04% in Q1 2024, indicating a stronger capital position[57] Shareholder Information - Total shareholders' equity increased to $961,049 million, a 3.6% rise from $927,718 million in Q1 2024[29] - Tangible shareholders' equity rose to $957.608 million in Q2 2024, up from $924.239 million in Q1 2024, marking a 3.6% increase[57] - Tangible book value per share increased to $21.28 in Q2 2024, up from $20.57 in Q1 2024, a growth of 3.4%[57] - Shares outstanding rose to 45,003,856 in Q2 2024 from 44,938,673 in Q1 2024, reflecting an increase of 0.1%[57] Future Outlook - The company plans to host a conference call on July 25, 2024, to discuss financial results and business outlook[50]

In conjunction with this announcement, Live Oak will host a conference call to discuss the company's financial results and business outlook on Thursday, July 25, 2024, at 9:00 a.m. ET. The call will be accessible by telephone and webcast using Conference ID: 54806566. A supplementary slide presentation will be posted to the website prior to the event, and a replay will be available for 12 months following the event. Live Telephone Dial-In U.S.: 888.259.6580 International: +1 416.764.8624 Pass Code: None Req ...