v3.25.1
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest income    
Loans and fees on loans $ 195,616 $ 176,010
Investment securities, taxable 11,089 8,954
Other interest earning assets 6,400 7,456
Total interest income 213,105 192,420
Interest expense    
Deposits 110,888 101,998
Borrowings 1,685 311
Total interest expense 112,573 102,309
Net interest income 100,532 90,111
Provision for credit losses 28,964 16,364
Net interest income after provision for credit losses 71,568 73,747
Noninterest income    
Loan servicing revenue 8,298 7,624
Loan servicing asset revaluation (4,728) (2,744)
Net gains on sales of loans 18,648 11,502
Net loss on loans accounted for under the fair value option (1,034) (219)
Equity method investments (loss) income (2,239) (5,022)
Equity security investments gains (losses), net 20 (529)
Lease income 2,573 2,453
Management fee income 0 3,271
Other noninterest income 4,043 9,761
Total noninterest income 25,581 26,097
Noninterest expense    
Salaries and employee benefits 48,008 47,275
Travel expense 2,795 2,438
Professional services expense 3,024 1,878
Advertising and marketing expense 3,665 3,692
Occupancy expense 2,737 2,247
Technology expense 9,251 7,723
Equipment expense 3,745 3,074
Other loan origination and maintenance expense 4,585 3,911
Renewable energy tax credit investment (recovery) impairment 0 (927)
FDIC insurance 3,551 3,200
Other expense 2,656 3,226
Total noninterest expense 84,017 77,737
Income before taxes 13,132 22,107
Income tax expense (benefit) 3,464 (5,479)
Net income 9,668 27,586
Net loss attributable to non-controlling interest 49 0
Net income attributable to Live Oak Bancshares, Inc. $ 9,717 $ 27,586
Basic earnings per share (in dollars per share) $ 0.21 $ 0.62
Diluted earnings per share (in dollars per share) $ 0.21 $ 0.60