Financial Performance - Fourth quarter 2024 net income attributable to Live Oak Bancshares, Inc. was $9.9 million, or $0.22 per diluted share, compared to $13.0 million, or $0.28 per diluted share in Q3 2024, representing a 24% decrease[6]. - Total revenue for 2024 increased by 9% to $499.7 million, up from $457.0 million in 2023, with a notable increase in loan production of 31% to $5.16 billion[5]. - The company achieved a 38% growth in pre-provision net revenue due to revenue growth and reduced noninterest expenses[4]. - Net income attributable to Live Oak Bancshares, Inc. for Q4 2024 was $9,900,000, down 24.0% from Q3 2024 and 38.7% from Q4 2023[10]. - Basic earnings per share for Q4 2024 was $0.22, a decrease of 21.4% from Q3 2024 and 38.9% from Q4 2023[10]. - Net income for Q4 2024 was $9,900,000, a decrease of 23.1% from $13,025,000 in Q3 2024 and a decrease of 63.3% from $26,963,000 in Q2 2024[13]. - Basic earnings per share increased to $1.72 from $1.67 year-over-year[12]. Asset and Deposit Growth - Total assets grew by 14.8% to $12.94 billion, while total deposits increased by 14% to $11.76 billion[4]. - Total assets increased to $12,943,380 thousand in Q4 2024, up 2.7% from Q3 2024 and 14.8% from Q4 2023[11]. - Total deposits reached $11,760,494 thousand, a 3.2% increase from Q3 2024 and 14.5% from Q4 2023[11]. Loan Production and Credit Losses - Loan and lease production in Q4 2024 was $1.42 billion, a decrease of 19% from $1.76 billion in Q3 2024[6]. - The company reported a provision expense for credit losses of $44.9 million, an increase of 87.5%, attributed to record loan growth and macroeconomic impacts[4]. - Provision for credit losses increased significantly to $33,581,000, a 273.3% increase compared to Q4 2023[10]. - Loans and leases originated in Q4 2024 totaled $1,421,118,000, a decrease of 19.2% from $1,757,856,000 in Q3 2024[13]. - Provision for credit losses was $96,212 thousand, significantly higher than $51,323 thousand in the previous year[12]. Income and Expense Analysis - Live Oak's total noninterest expense decreased by 3% to $314.2 million in 2024, down from $322.9 million in 2023[5]. - Total noninterest income for Q4 2024 was $30,593,000, a decrease of 7.1% from Q3 2024 and an increase of 1.6% from Q4 2023[10]. - Total noninterest expense rose to $81,257,000, an increase of 4.7% from Q3 2024 and a decrease of 12.8% from Q4 2023[10]. - Net interest income after provision for credit losses decreased to $63,893,000, a 20.7% decline compared to Q4 2023[10]. - Noninterest income totaled $123,781 thousand, up 10.8% from $111,733 thousand in 2023[12]. Efficiency and Capital Ratios - The efficiency ratio for Q4 2024 was 63.45%, compared to 59.72% in Q3 2024, indicating a decline in operational efficiency[13]. - Common equity tier 1 capital ratio was 11.04% in Q4 2024, slightly down from 11.19% in Q3 2024[13]. - The efficiency ratio for the twelve months ended 2024 is 63.45%, compared to 77.88% for the twelve months ended 2023, showing significant improvement[17]. Interest Income and Margin - Total interest income for Q4 2024 was $212,568,000, an increase of 1.7% from Q3 2024 and 14.0% from Q4 2023[10]. - The net interest margin for Q4 2024 was 3.15%, a decrease from 3.33% in Q3 2024[13]. - Net interest income for Q4 2024 is $97,474,000, which is an increase from $97,000,000 in Q3 2024, showing a growth of approximately 0.49%[17]. Future Plans - The company plans to continue expanding loan and deposit products while focusing on supporting small business owners[2].

Core Viewpoint - Live Oak Bancshares, Inc. reported a strong financial performance for the fourth quarter and the full year of 2024, highlighting growth in revenue, net income, and loan production, while also addressing challenges in the macroeconomic environment [1][5][15]. Financial Performance - The net income attributable to Live Oak for Q4 2024 was $9.9 million, or $0.22 per diluted share, compared to $13.0 million in Q3 2024 [1][7]. - For the year ended December 31, 2024, the net income totaled $77.5 million, or $1.69 per diluted share, reflecting a 5% increase from $73.9 million in 2023 [1][15]. - Total revenue for 2024 was $499.7 million, a 9% increase from $457.0 million in 2023 [4][15]. Loan and Deposit Growth - Live Oak achieved record loan production of $5.16 billion in 2024, with loans and leases originated increasing by 31% year-over-year [5][6]. - Total deposits grew by $1.49 billion, resulting in total assets increasing by 14.8% to $12.94 billion [5][6]. Expense Management - Total noninterest expenses decreased by 3% to $314.2 million in 2024, down from $322.9 million in 2023 [4][15]. - The effective tax rate for 2024 was 13.2%, up from 10.8% in 2023 [4]. Key Initiatives and Challenges - The company focused on expanding loan and deposit products and maintaining close relationships with borrowers, which contributed to strong results [1]. - Increased provision expense for credit losses rose to $44.9 million, or 87.5%, due to record loan growth and macroeconomic challenges [5][15].

Group 1 - Analysts project Live Oak Bancshares (LOB) will announce quarterly earnings of $0.49 per share, a 36.1% increase year over year [1] - Revenues are expected to reach $125.9 million, reflecting a 5.2% increase from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' assessments [1][2] Group 2 - Analysts estimate 'Net Interest Margin' at 3.2%, down from 3.3% a year ago [4] - The average prediction for 'Average Balance - Total interest-earning assets' is $12.13 billion, compared to $10.69 billion a year prior [4] - The 'Efficiency Ratio' is expected to reach 67.5%, significantly improved from 77.9% a year ago [4] Group 3 - 'Total noninterest income' is projected to be $29.22 million, down from $30.11 million in the same quarter last year [5] - 'Net Interest Income' is expected to reach $96.72 million, an increase from $89.58 million reported in the same quarter last year [5] Group 4 - Live Oak Bancshares shares have increased by 3.8% in the past month, contrasting with the Zacks S&P 500 composite's decline of 0.4% [6] - The company holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market [6]

Live Oak Bancshares (LOB) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on January 22, 2025, might help the stock move higher if these key numbers are bet ...

WILMINGTON, N.C., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (NYSE: LOB) today announced that it will report its fourth quarter 2024 financial results after U.S. financial markets close on Wednesday, January 22, 2025. In conjunction with this announcement, Live Oak will host a conference call to discuss the company's financial results and business outlook on Thursday, January 23, 2025, at 9:00 a.m. ET. The call will be accessible by telephone and webcast using Conference ID: 33467. A supple ...

WILMINGTON, N.C., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Sunbound Inc., a provider of automated financial operations solutions for the senior housing industry. Sunbound leverages best in class technology to optimize financial operations, so senior housing communities can concentrate on delivering exceptional residential care while improving their financial profile and operational efficiency. “Our team understands t ...

New Partnership to Fuel Financial Innovations, Delivering Flexible Solutions to Operators and FamiliesWASHINGTON, Dec. 4, 2024 /PRNewswire/ -- Sunbound, a leader in finance solutions for senior living, announced an investment from Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares, to fuel innovations that support operators and families. This partnership strengthens Sunbound's mission of enhancing financial stability for senior living operators, enabling them to streamline their financial p ...

Warrior Expands Access to Capital for Veteran-Owned Businesses Through Alliances with Parlay and Live Oak Bank and Acquisition of Launch Plan™SALT LAKE CITY, Nov. 12, 2024 /PRNewswire/ -- Warrior Rising, a national 501c3 non-profit organization dedicated to empowering U.S. military veterans and their families through entrepreneurship, today announced it has established a relationship with Parlay Finance and Live Oak Bank to increase capital access and support for veteran-owned small businesses across the na ...

From just before the release of Q3 2024 results to date, the price per share of Live Oak Bancshares (NYSE: LOB ) fell 18.82%, a rather significant drop. The point is not that the quarterly results were significantly bad, but shareholders' expectations Hi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally cam ...

Live Oak Bancshares (LOB) reported $129.93 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.1%. EPS of $0.28 for the same period compares to $0.88 a year ago.The reported revenue represents a surprise of +2.61% over the Zacks Consensus Estimate of $126.63 million. With the consensus EPS estimate being $0.53, the EPS surprise was -47.17%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...