Basic and diluted earnings per share are computed based on the weighted-average number of shares outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur upon the exercise of stock options or upon the vesting of restricted stock grants, any of which would result in the issuance of common stock that would then share in the net income of the Company.


	Three Months Ended March 31,
	2025		2024
Basic earnings per share:
Net income attributable to Live Oak Bancshares, Inc.	$	9,717	$	27,586
Weighted-average basic shares outstanding	45,377,965		44,762,308
Basic earnings per share	$	0.21	$	0.62
Diluted earnings per share:
Net income attributable to Live Oak Bancshares, Inc., for diluted earnings per share	$	9,717	$	27,586
Total weighted-average basic shares outstanding	45,377,965		44,762,308
Add effect of dilutive stock options and restricted stock grants	376,534		878,902
Total weighted-average diluted shares outstanding	45,754,499		45,641,210
Diluted earnings per share	$	0.21	$	0.60
Anti-dilutive stock options and restricted stock grants	1,499,126		459,599