Live Oak Bancshares, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 23, 2019 at 09:48 pm
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Live Oak Bancshares, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 28.795 million compared to USD 22.976 million a year ago. Net income was USD 10.490 million compared to USD 71.730 million a year ago. Basic earnings per share was USD 0.26 compared to USD 1.8 a year ago. Diluted earnings per share was USD 0.26 compared to USD 1.74 a year ago. For the full year, net interest income was USD 108.043 million compared to USD 78.034 million a year ago. Net income was USD 51.448 million compared to USD 100.499 million a year ago. Basic earnings per share was USD 1.28 compared to USD 2.75 a year ago. Diluted earnings per share was USD 1.24 compared to USD 2.65 a year ago.
Live Oak Bancshares, Inc. is a bank holding company. The Company conducts business operations through its commercial bank subsidiary, Live Oak Banking Company (the Bank). The Bank specializes in providing lending and deposit-related services to small businesses nationwide. Its segments include Banking and Fintech. Banking segment specializes in providing financing services to small businesses nationwide in industries and deposit-related services to small businesses, consumers, and other customers nationwide. The Fintech segment is involved in making strategic investments in emerging financial technology companies. The Fintech segment is comprised of the Company's direct wholly owned subsidiaries, Live Oak Ventures, Inc. and Canapi Advisors, LLC, and the investments held by those entities, as well as the Bank's investment in Apiture, Inc. The Bankâs loan portfolio includes commercial and industrial loans, construction and development loans, commercial real estate, and commercial land.
LIVE OAK BANCSHARES, INC. 
