NYSE : LOB

Live Oak Bancshares, Inc. — Financial statements

Financials · Banks - Regional · United States

Last price 34.47 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.60B

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Interest Income on Loans891.96M830.58M744.84M623.67M418.55M347.74M
Interest Income on Investments82.76M77.89M67.53M64.61M25.93M13.47M
Total Interest Income974.71M908.47M812.37M688.27M444.47M361.21M
Interest Paid on Deposits467.35M453.41M430.89M340.21M115.03M59.74M
Interest Paid on Borrowings6.49M6.70M5.58M2.76M1.94M4.69M
Total Interest Expense473.85M460.11M436.47M342.97M116.97M64.43M
Net Interest Income500.87M448.36M375.90M345.31M327.50M296.79M
Gain (Loss) on Sale of Investments1.65M5.00M23.00K-15.61M-12.86M41.56M
Gain (Loss) on Sale of Equity Investments23.62M17.39M-10.92M-5.99M144.25M-1.72M
Other Non-Interest Income56.80M42.70M70.85M75.69M46.10M45.63M
Total Non-Interest Income148.84M128.72M112.12M89.36M221.78M157.01M
Revenues Before Loan Losses649.71M577.08M488.03M434.66M549.28M453.80M
Provision for Loan Losses122.44M96.30M96.21M51.32M40.94M15.21M
Revenue527.26M480.78M391.81M383.34M508.33M438.59M
Salaries and Employee Benefits166.64M163.04M148.28M150.97M150.29M107.86M
Federal Deposit Insurance17.32M14.67M10.84M16.67M9.76M7.07M
Selling, General & Administrative122.01M123.53M113.80M100.91M105.96M88.95M
Other Non-Interest Expense35.45M33.91M29.66M31.96M32.01M23.91M
Total Non-Interest Expense341.43M335.16M302.58M300.51M298.01M227.80M
EBT Excluding Unusual Items185.84M145.62M89.23M82.83M210.32M210.79M
Other Unusual Items-2.80M-2.80M
Pretax Income183.04M142.81M89.23M82.83M210.32M210.79M
Income Tax Expense44.00M37.17M11.82M8.93M34.12M43.79M
Earnings From Continuing Operations139.04M105.64M77.42M73.90M176.21M167.00M
Minority Interest in Earnings360.00K228.00K57.00K
Net Income139.40M105.87M77.47M73.90M176.21M167.00M
Preferred Dividends & Other Adjustments8.38M3.05M
Net Income to Common131.02M102.82M77.47M73.90M176.21M167.00M
Basic Shares Outstanding46.16M45.70M45.01M44.35M43.86M43.17M
Diluted Shares Outstanding46.57M46.04M45.82M45.09M44.91M45.07M
EPS (Basic)2.842.251.721.674.023.87
EPS (Diluted)2.812.231.691.643.923.71
Dividend Per Share0.120.120.120.120.120.12
Effective Tax Rate24.04%26.03%13.24%10.78%16.22%20.78%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents1.10B864.90M608.80M582.54M416.64M203.75M
Investment Securities250.00K53.67M112.12M146.45M140.46M106.32M
Mortgage-Backed Securities1.50B1.41B1.23B1.11B995.57M889.34M
Total Investments1.50B1.46B1.34B1.25B1.14B995.66M
Gross Loans13.37B12.01B10.26B8.66B7.35B5.53B
Allowance for Loan Losses-213.63M-192.26M-167.52M-125.84M-96.57M-63.58M
Other Adjustments to Gross Loans-36.21M-30.02M-22.24M-4.91M-6.60M
Net Loans13.16B11.78B10.07B8.51B7.25B5.46B
Property, Plant & Equipment220.89M233.97M264.90M212.16M231.44M241.72M
Loans Held for Sale496.81M420.06M346.00M387.04M554.61M1.12B
Accrued Interest Receivable85.00M80.70M63.50M46.50M31.00M
Other Real Estate Owned & Foreclosed8.48M8.21M1.94M6.48M620.00K
Other Long-Term Assets479.11M267.94M227.91M252.86M218.57M162.55M
Total Assets16.97B15.13B12.94B11.27B9.86B8.21B
Interest Bearing Deposits14.83B12.52B10.75B9.32B8.06B6.46B
Institutional Deposits653.50M695.90M695.60M629.10M564.80M
Non-Interest Bearing Deposits638.33M515.05M318.89M259.27M194.10M89.28M
Total Deposits15.47B13.69B11.76B10.28B8.88B7.11B
Short-Term Borrowings50.00M8.00M
Current Portion of Long-Term Debt2.68M
Current Portion of Leases600.00K4.00K
Long-Term Debt99.79M99.65M112.69M23.35M33.20M310.29M
Long-Term Leases1.64M2.77M3.18M2.56M2.44M
Other Long-Term Liabilities85.37M87.45M63.93M67.20M73.78M65.49M
Total Liabilities15.65B13.88B11.94B10.37B9.04B7.50B
Preferred Stock, Redeemable96.27M96.27M
Common Stock404.12M388.39M365.61M344.57M330.85M312.29M
Retained Earnings892.63M809.88M715.77M642.82M572.50M400.89M
Comprehensive Income & Other-84.74M-44.67M-82.34M-84.72M-92.32M1.95M
Total Common Equity1.21B1.15B999.03M902.67M811.03M715.13M
Minority Interest3.97M4.24M4.47M
Shareholders' Equity1.31B1.25B1.00B902.67M811.03M715.13M
Total Liabilities & Equity16.97B15.13B12.94B11.27B9.86B8.21B
Total Debt99.79M104.56M115.46M26.53M85.76M320.73M
Net Cash (Debt)1.00B760.59M493.59M556.26M334.88M-112.22M
Net Cash Per Share21.4816.5210.7712.347.46-2.49
Filing Date Shares Outstanding46.38M46.22M45.57M44.77M44.15M43.62M
Total Common Shares Outstanding46.38M46.03M45.36M44.62M44.06M43.62M
Book Value Per Share26.1325.0622.0220.2318.4116.39
Tangible Book Value1.21B1.15B999.03M902.67M811.03M715.13M
Tangible Book Value Per Share26.1325.0622.0220.2318.4116.39

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income105.87M77.47M73.90M176.21M167.00M
Depreciation & Amortization30.40M23.28M21.27M20.78M21.37M
Gain (Loss) on Sale of Assets3.85M-9.21M-3.28M7.00K-941.00K
Gain (Loss) on Sale of Investments-5.61M-744.00K15.62M16.28M-35.10M
Total Asset Writedown499.00K904.00K
Provision for Credit Losses96.30M96.21M51.32M40.94M15.21M
Net Decrease (Increase) in Loans Originated / Sold - Operating-46.33M2.97M42.81M25.70M-271.95M
Change in Other Net Operating Assets43.56M5.88M39.47M-22.06M2.08M
Other Operating Activities-14.05M-25.12M-44.30M34.29M25.25M
Operating Cash Flow158.24M156.78M184.90M124.48M-119.72M
Capital Expenditures-14.76M-49.31M-46.84M-43.75M-3.08M
Sale of Property, Plant and Equipment4.36M44.64M18.69M9.07M
Investment in Securities-60.78M-130.41M-120.69M-131.56M-171.40M
Income (Loss) Equity Investments-17.39M10.92M5.99M-144.25M1.72M
Net Decrease (Increase) in Loans Originated / Sold - Investing-1.84B-1.57B-1.19B-1.27B8.82M
Other Investing Activities9.39M8.32M1.84M6.79M
Investing Cash Flow-1.90B-1.70B-1.34B-1.44B-149.80M
Long-Term Debt Issued161.00K99.70M2.91B62.10M602.85M
Long-Term Debt Repaid-10.58M-10.24M-2.97B-297.18M-1.83B
Total Debt Repaid-10.58M-10.24M-2.97B-297.18M-1.83B
Net Debt Issued (Repaid)-10.42M89.47M-59.85M-235.09M-1.22B
Issuance of Common Stock4.20M3.76M2.56M3.19M4.83M
Repurchase of Common Stock-7.62M-8.93M-6.72M-4.97M-20.10M
Preferred Stock Issued96.27M
Common Dividends Paid-5.49M-5.41M-5.33M-5.27M-5.19M
Preferred Dividends Paid-3.05M
Total Dividends Paid-8.54M-5.41M-5.33M-5.27M-5.19M
Net Increase (Decrease) in Deposit Accounts1.93B1.49B1.39B1.77B1.40B
Other Financing Activities4.52M
Financing Cash Flow2.00B1.57B1.32B1.53B154.95M
Net Cash Flow256.10M26.26M165.90M212.89M-114.57M
Free Cash Flow143.49M107.47M138.06M80.73M-122.80M
Free Cash Flow Margin29.84%27.43%36.01%15.88%-28.00%
Free Cash Flow Per Share3.122.353.061.80-2.73
Cash Interest Paid460.58M436.85M342.77M117.52M66.84M
Cash Income Tax Paid26.59M38.91M5.30M24.71M19.72M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization1.61B1.58B1.79B2.02B1.33B3.79B
Last Close Price34.4734.2739.3145.0929.8185.89
PE Ratio12.3715.3223.0727.397.5422.69
PS Ratio3.033.284.565.282.618.64
PB Ratio1.321.261.782.241.645.30
P/FCF Ratio6.7310.9816.6314.6616.45
P/OCF Ratio6.319.9511.4010.9510.67
Debt / Equity Ratio0.080.080.120.030.110.45
Debt / FCF Ratio0.731.070.191.06
Net Debt / Equity Ratio-0.76-0.61-0.49-0.62-0.410.16
Net Debt / FCF Ratio-5.30-4.59-4.03-4.15-0.91
Return on Equity (ROE)11.06%9.36%8.12%8.62%23.09%26.03%
Return on Assets (ROA)0.88%0.75%0.64%0.70%1.95%2.08%
Earnings Yield8.08%6.72%4.33%3.65%13.26%4.41%
FCF Yield14.85%9.11%6.01%6.82%6.08%-3.24%
Dividend Yield0.35%0.35%0.30%0.27%0.40%0.14%
Payout Ratio4.28%8.06%6.98%7.21%2.99%3.10%
Buyback Yield / Dilution-1.22%-0.49%-1.61%-0.42%0.37%-7.90%
Total Shareholder Return-0.87%-0.14%-1.30%-0.15%0.76%-7.76%