v3.26.1
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income        
Loans and fees on loans $ 221,705 $ 204,513 $ 435,834 $ 400,129
Investment securities, taxable 13,411 11,648 26,420 22,737
Other interest earning assets 6,601 8,123 13,327 14,523
Total interest income 241,717 224,284 475,581 437,389
Interest expense        
Deposits 114,776 113,380 227,623 224,268
Borrowings 1,603 1,683 3,220 3,368
Total interest expense 116,379 115,063 230,843 227,636
Net interest income 125,338 109,221 244,738 209,753
Provision for credit losses 25,800 23,252 45,900 52,216
Net interest income after provision for credit losses 99,538 85,969 198,838 157,537
Noninterest income        
Loan servicing revenue 9,194 8,565 18,288 16,863
Loan servicing asset revaluation (4,278) (3,057) (7,765) (7,785)
Net gains on sales of loans 17,554 17,570 32,979 33,008
Net gain (loss) on loans accounted for under the fair value option 291 1,082 (874) 48
Equity method investments income (loss) 74 (2,716) (743) (4,955)
Equity security investments gains, net 0 1,004 0 1,024
Lease income 2,238 3,103 4,373 5,676
Other noninterest income 5,734 4,904 10,623 8,947
Total noninterest income 30,807 30,455 56,881 52,826
Noninterest expense        
Salaries and employee benefits 48,776 46,008 98,130 91,537
Travel expense 1,933 1,634 3,396 3,698
Professional services expense 2,938 2,874 5,454 5,898
Advertising and marketing expense 2,734 4,420 5,785 8,085
Occupancy expense 2,364 2,369 4,774 5,106
Technology expense 9,608 10,066 19,357 19,317
Equipment expense 3,662 3,685 7,355 7,430
Other loan origination and maintenance expense 4,864 4,190 10,783 8,775
Renewable energy tax credit investment impairment 26 270 26 270
FDIC insurance 4,788 3,545 9,189 7,096
Other expense 2,832 6,161 5,569 8,817
Total noninterest expense 84,525 85,222 169,818 166,029
Income before taxes 45,820 31,202 85,901 44,334
Income tax expense 9,116 7,815 19,250 11,279
Net income 36,704 23,387 66,651 33,055
Net loss attributable to non-controlling interest 91 41 184 90
Net income attributable to Live Oak Bancshares, Inc. 36,795 23,428 66,835 33,145
Preferred stock dividends 2,094 0 4,188 0
Net income attributable to common shareholders $ 34,701 $ 23,428 $ 62,647 $ 33,145
Basic earnings per share (in dollars per share) $ 0.75 $ 0.51 $ 1.36 $ 0.72
Diluted earnings per share (in dollars per share) $ 0.74 $ 0.51 $ 1.35 $ 0.72