Live Oak Bancshares, Inc. Reports Second Quarter 2025 Results

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].