Live Oak(US:LOB)2024-07-25 14:13Financial Performance - Net interest income increased by 1% quarter-over-quarter (LQ) and 8% year-over-year (PYQ)[3] - Adjusted PPNR increased by 17% LQ and 33% PYQ[55] - Adjusted total revenue increased by 4% LQ and 11% PYQ[53] - Diluted EPS of $059, down 2% LQ, but up 51% PYQ[53] Balance Sheet and Loan Portfolio - Total loan and lease portfolio increased by 3% LQ and 14% PYQ, reaching $9536 million[65] - Loan originations increased by 45% LQ and 36% year-over-year, reaching $1171 million[83] - Business deposits increased by 8% LQ[64] - Total deposits increased by 3% LQ and 8% PYQ, reaching $10707 million[96] Non-Interest Income and Expenses - Net gains on sales of loans in Q2 2024 were $14 million[5] - Other noninterest income in Q2 2024 was $15 million, including a $67 million gain on the sale of a fixed asset[5, 6] - Efficiency ratio improved to 619%[65] Portfolio Health - Common Equity Tier 1 Capital was 119%[65] - Tier 1 Capital to Unguaranteed Loans and Leases was 168%[19] - ACL and FV Mark to Unguaranteed Loans and Leases was 24%[19]