Live Oak(US:LOB)2023-10-26 19:59Q3 2023 Financial Performance - Net income was $40 million[21], a 127% increase compared to Q2 2023[94], but a 7% decrease compared to Q3 2022[94] - Diluted earnings per share were $0.88[21], a 126% increase compared to Q2 2023[94], but an 8% decrease compared to Q3 2022[94] - Net interest income was $89 million[21], up 6% QoQ and 7% YoY[94] - Total revenue was $127 million[21], up 17% QoQ but down 10% YoY[94] - Noninterest expense was $74 million[21], down 3% QoQ and 11% YoY[94] - Provision for credit losses was $10 million[21], down 21% QoQ and 27% YoY[94] Loan and Deposit Growth - Loan production reached $1.073 billion[73], up 25% from Q2 2023 and 7% from Q3 2022[73] - The period-end total loan and lease portfolio was $8.775 billion[21], up 5% QoQ and 19% YoY[73] - Period-end total deposits reached $10.004 billion[21], up 1% QoQ and 19% YoY[73] Key Financial Metrics - Net interest margin was 3.37%[21], an increase of 8 bps QoQ but a decrease of 47 bps YoY[73] - Efficiency ratio was 58.3%[73], a decrease of 1215 bps from Q2 2023 and 31 bps YoY[73] - Common equity tier 1 capital was 11.6%[73], an increase of 8 bps QoQ but a decrease of 153 bps YoY[73] - Tangible book value per share was $19.04[73], a 2% increase QoQ and 5% YoY[73]