Live Oak Bancshares, Inc. (LOB)

Live Oak Bancshares Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	744.84	623.67	418.55	347.74	270.77
Interest Income on Investments	67.53	64.61	25.93	13.48	17.64
Total Interest Income	812.37	688.28	444.47	361.21	288.41
Interest Paid on Deposits	430.89	340.21	115.04	59.74	89.73
Interest Paid on Borrowings	5.58	2.76	1.94	4.69	3.96
Total Interest Expense	436.47	342.97	116.97	64.43	93.69
Net Interest Income	375.91	345.31	327.5	296.79	194.72
Net Interest Income Growth (YoY)	8.86%	5.44%	10.35%	52.41%	39.01%
Gain (Loss) on Sale of Investments	0.02	-15.61	-12.86	41.57	16.79
Gain (Loss) on Sale of Equity Investments	-10.92	-5.99	144.25	-1.72	-14.69
Other Non-Interest Income	70.85	75.69	46.1	45.63	47.51
Total Non-Interest Income	123.25	97.09	221.78	157.01	86
Non-Interest Income Growth (YoY)	26.95%	-56.22%	41.25%	82.57%	36.69%
Revenues Before Loan Losses	499.16	442.39	549.28	453.8	280.72
Provision for Loan Losses	96.21	51.32	40.94	15.21	40.66
Revenue	402.94	391.07	508.33	438.59	240.07
Revenue Growth (YoY)	3.04%	-23.07%	15.90%	82.70%	27.84%
Salaries and Employee Benefits	183.27	156.93	150.29	107.86	97.69
Federal Deposit Insurance	10.84	16.67	9.76	7.07	7.47
Selling, General & Administrative	89.94	103.98	105.96	88.96	67.98
Other Non-Interest Expense	29.67	31.96	32.01	23.91	18.26
Total Non-Interest Expense	313.71	309.54	298.01	227.8	191.41
EBT Excluding Unusual Items	89.24	81.53	210.32	210.79	48.65
Asset Writedown	-	-	-	-	-1.26
Pretax Income	89.24	82.83	210.32	210.79	47.39
Income Tax Expense	11.82	8.93	34.12	43.79	-12.15
Earnings From Continuing Operations	77.42	73.9	176.21	167	59.54
Minority Interest in Earnings	0.06	-	-	-	-
Net Income	77.47	73.9	176.21	167	59.54
Net Income to Common	77.47	73.9	176.21	167	59.54
Net Income Growth	4.84%	-58.06%	5.52%	180.46%	230.17%
Basic Shares Outstanding	45	44	44	43	41
Diluted Shares Outstanding	46	45	45	45	42
Shares Change (YoY)	1.61%	0.42%	-0.37%	7.90%	1.75%
EPS (Basic)	1.72	1.67	4.02	3.87	1.46
EPS (Diluted)	1.69	1.64	3.92	3.71	1.43
EPS Growth	3.05%	-58.16%	5.66%	159.44%	225.00%
Dividend Per Share	0.120	0.120	0.120	0.120	0.120
Effective Tax Rate	13.24%	10.78%	16.22%	20.78%	-

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