Live Oak Bancshares, Inc. (LOB)

Live Oak Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	719.55	623.67	418.55	347.74	270.77	207.84
Interest Income on Investments	66.79	64.61	25.93	13.48	17.64	20.14
Total Interest Income	786.34	688.28	444.47	361.21	288.41	227.98
Interest Paid on Deposits	414.23	340.21	115.04	59.74	89.73	87.9
Interest Paid on Borrowings	4.11	2.76	1.94	4.69	3.96	0
Total Interest Expense	418.33	342.97	116.97	64.43	93.69	87.9
Net Interest Income	368.01	345.31	327.5	296.79	194.72	140.08
Net Interest Income Growth (YoY)	7.72%	5.44%	10.35%	52.41%	39.01%	29.65%
Gain (Loss) on Sale of Assets	9.1	-	-	-	-	0.36
Gain (Loss) on Sale of Investments	-8.08	-15.61	-12.86	41.57	16.79	3.55
Gain (Loss) on Sale of Equity Investments	-8.14	-5.99	144.25	-1.72	-14.69	-7.89
Other Non-Interest Income	59	75.69	46.1	45.63	47.51	30.49
Total Non-Interest Income	109.36	97.09	221.78	157.01	86	62.92
Non-Interest Income Growth (YoY)	18.64%	-56.22%	41.25%	82.57%	36.69%	-34.41%
Revenues Before Loan Losses	477.37	442.39	549.28	453.8	280.72	203
Provision for Loan Losses	71.63	51.32	40.94	15.21	40.66	15.21
Revenue	405.74	391.07	508.33	438.59	240.07	187.79
Revenue Growth (YoY)	9.13%	-23.07%	15.90%	82.70%	27.84%	-5.35%
Salaries and Employee Benefits	157.2	156.93	150.29	107.86	97.69	78.73
Federal Deposit Insurance	11.87	16.67	9.76	7.07	7.47	3.45
Selling, General & Administrative	113.15	103.98	105.96	88.96	67.98	65.32
Other Non-Interest Expense	30.04	31.96	32.01	23.91	18.26	16.82
Total Non-Interest Expense	312.25	309.54	298.01	227.8	191.41	164.32
EBT Excluding Unusual Items	93.49	81.53	210.32	210.79	48.65	23.47
Asset Writedown	-	-	-	-	-1.26	-
Pretax Income	93.49	82.83	210.32	210.79	47.39	23.47
Income Tax Expense	9.75	8.93	34.12	43.79	-12.15	5.43
Earnings From Continuing Operations	83.74	73.9	176.21	167	59.54	18.03
Net Income	83.74	73.9	176.21	167	59.54	18.03
Net Income to Common	83.74	73.9	176.21	167	59.54	18.03
Net Income Growth	40.67%	-58.06%	5.52%	180.46%	230.17%	-64.95%
Basic Shares Outstanding	45	44	44	43	41	40
Diluted Shares Outstanding	46	45	45	45	42	41
Shares Change (YoY)	1.43%	0.42%	-0.37%	7.90%	1.75%	-0.95%
EPS (Basic)	1.87	1.67	4.02	3.87	1.46	0.45
EPS (Diluted)	1.84	1.64	3.92	3.71	1.43	0.44
EPS Growth	39.66%	-58.16%	5.66%	159.44%	225.00%	-64.52%
Dividend Per Share	0.120	0.120	0.120	0.120	0.120	0.120
Effective Tax Rate	10.43%	10.78%	16.22%	20.78%	-	23.15%

Source: S&P Capital IQ. Banks template. Financial Sources.