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GlobeNewswire·

Live Oak Bancshares, Inc. Reports Third Quarter 2026 Results

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  • Live Oak Bancshares reported third quarter 2026 net income attributable to common shareholders of $24.3 million, or $0.52 per diluted share.
  • Net interest income rose 6.1% compared to the second quarter of 2026 & 15.2% compared to the third quarter of 2025.
  • Net interest margin decreased 3 basis points to 3.30% from 3.33% in the prior quarter & same period last year.
  • Total revenue increased 12.5% vs. the second quarter of 2026 & 23.4% vs. the third quarter of 2025, while noninterest expense grew 1.4% & 2.6% respectively.
  • Pre-provision net revenue surged 25.6% vs. the second quarter of 2026 & 52.9% vs. the third quarter of 2025.
  • Loan production reached $2.1 billion & deposits grew by $920.6 million during the quarter.
  • Total assets increased 5.8% to $17.0 billion compared to June 30, 2026, & 15.7% compared to September 30, 2025.
  • Provision for credit losses totaled $54.7 million, an increase of $28.9 million vs. the second quarter of 2026 & $32.5 million vs. the third quarter of 2025.
  • The elevated provision expense was primarily driven by a $17.0 million charge related to a stressed distillery portfolio & reserves for continued loan growth.
  • Conference call to discuss results is scheduled for October 22, 2026, at 9:00 a.m. ET.
  • Net income attributable to common shareholders decreased 30.1% from the second quarter of 2026 & 5.1% from the third quarter of 2025.
  • Diluted earnings per share were $0.52, down from $0.74 in the second quarter of 2026 & $0.55 in the third quarter of 2025.
  • Return on average assets for the quarter was 0.59% & return on average common equity was 7.70%.
  • The efficiency ratio improved to 48.80% from 54.13% in the second quarter of 2026.
  • Allowance for credit losses to loans held for investment was 1.62% as of September 30, 2026.
  • Nonperforming loans & leases totaled $508.7 million at historical cost, with an additional $57.9 million at fair value.
  • Common equity tier 1 capital ratio stood at 9.94% as of the end of the quarter.