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Live Oak Bancshares, Inc. Reports First Quarter 2026 Results

  • Live Oak Bancshares, Inc. reported first quarter 2026 net income attributable to common shareholders of $27.9 million, or $0.60 per diluted share.
  • The company achieved loan production of $1.37 billion & deposit growth of $146.4 million during the quarter.
  • Total assets increased by 1.1% from the fourth quarter of 2025 & by 12.5% from the first quarter of 2025, reaching $15.30 billion.
  • Net interest income decreased 3.0% compared to the fourth quarter of 2025 but increased 18.8% compared to the first quarter of 2025.
  • Net interest margin fell 11 basis points to 3.27% from the prior quarter but rose 7 basis points compared to the same period last year.
  • Total revenue decreased 15.9% from the fourth quarter of 2025 & increased 18.4% from the first quarter of 2025, with the quarterly decline attributed to a $24.1 million pre-tax gain from the sale of Apiture, Inc. & a $9.0 million gain from a portfolio investment sale in the prior quarter.
  • Provision expense for credit losses was $20.1 million, down $1.7 million from the fourth quarter of 2025 & $8.9 million from the first quarter of 2025.
  • Noninterest expense decreased 4.3% from the fourth quarter of 2025 & increased 5.6% from the first quarter of 2025.
  • Pre-provision net revenue decreased 28.1% from the fourth quarter of 2025 & increased 43.0% from the first quarter of 2025.
  • The company announced a conference call for April 23, 2026, at 9:00 a.m. ET to discuss results & outlook.
  • Key balance sheet metrics include total loans & leases of $12.59 billion & total deposits of $13.84 billion as of March 31, 2026.
  • Tangible book value per common share was $25.46, up from $24.97 in the fourth quarter of 2025 & $22.55 in the first quarter of 2025.
  • The efficiency ratio for the quarter was 58.63%, compared to 51.56% in the fourth quarter of 2025 & 65.75% in the first quarter of 2025.