LIVE OAK BANCSHARES, INC. (LOB-PA)

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LIVE OAK BANCSHARES, INC.

LOB-PA • CIK 0001462120

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Loans and Leases	$623,667	$744,841	$830,580	$866,285
Interest Income, Securities, Operating, Taxable	$33,497	$38,413	$47,591	$51,274
Other Interest and Dividend Income	$31,111	$29,118	$30,301	$29,105
Interest Income (Expense), Net	$345,305	$375,905	$448,358	$483,343
Interest and Dividend Income, Operating	$688,275	$812,372	$908,472	$946,664
Provision for Loan, Lease, and Other Losses	$51,323	$96,212	$96,303	$89,987
Interest Income (Expense), after Provision for Loan Loss	$293,982	$279,693	$352,055	$393,356
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$82,830	$89,235	$142,815	$184,382
Income Tax Expense (Benefit)	$8,932	$11,818	$37,172	$45,143
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$73,898	$77,417	$105,643	$139,239
Net Income (Loss) Attributable to Noncontrolling Interest	—	$-57	$-228	$-322
Net Income (Loss) Attributable to Parent	$73,898	$77,474	$105,871	$139,561
Preferred Stock Dividends, Income Statement Impact	—	—	$3,048	$7,236
Net Income (Loss) Available to Common Stockholders, Basic	$73,898	$77,474	$102,823	$132,325
Interest Expense, Deposits	$340,207	$430,887	$453,413	$456,768
Interest Expense, Borrowings	$2,763	$5,580	$6,701	$6,553
InterestExpenseOperating	—	$436,467	$460,114	$463,321
Gain (Loss) on Sales of Loans, Net	$46,545	$60,899	$62,420	$55,110
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$-3,539	$2,403	$1,216	$294
Income (Loss) from Equity Method Investments	$-5,994	$-10,921	$17,387	$21,599
Noninterest Income, Other	$20,074	$34,053	$13,826	$15,502
Noninterest Income	$111,733	$123,781	$129,458	$126,232
Labor and Related Expense	$175,052	$183,268	$189,435	$190,420
Travel and Entertainment Expense	$8,922	$9,738	$7,031	$5,056
Professional Fees	$7,737	$11,023	$10,752	$10,308
Marketing and Advertising Expense	$12,559	$11,148	$12,222	$9,922
Occupancy, Net	$8,490	$10,000	$9,762	$9,430
Information Technology and Data Processing	$31,858	$34,206	$42,948	$42,988
Equipment Expense	$14,997	$13,826	$14,427	$14,352
Equity Method Investment, Other than Temporary Impairment	$14,644	$530	$735	$491
Federal Deposit Insurance Corporation Premium Expense	$16,670	$10,835	$14,672	$16,765
Other Noninterest Expense	$17,152	$12,411	$18,245	$14,997
Noninterest Expense	$322,885	$314,239	$338,698	$335,206
Weighted Average Number of Shares Outstanding, Basic	44,353,708	45,009,567	45,701,364	46,347,056
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,233,230	494,481	1,181,187	37,954
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	741,171	810,754	341,426	422,303
Weighted Average Number of Shares Outstanding, Diluted	45,094,879	45,820,321	46,042,790	46,769,359

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$582,540	$608,800	$864,904	$927,630
Certificates of Deposit, at Carrying Value	$250	$250	$250	$250
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$1,126,160	$1,248,203	$1,427,401	$1,467,855
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance	$387,037	$346,002	$420,055	$511,812
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$8,633,847	$10,233,374	$11,973,622	$12,630,859
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$125,840	$167,516	$192,264	$193,417
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$8,508,007	$10,065,858	$11,781,358	$12,437,442
Property, Plant and Equipment, Net	$257,881	$264,059	$240,203	$231,198
Repossessed Assets	$6,481	$1,944	$8,208	$11,017
Servicing Asset	$48,591	$56,144	$63,155	$66,733
Other Assets	$354,476	$352,120	$329,244	$384,204
Assets	$11,271,423	$12,943,380	$15,134,778	$16,038,141
Debt, Long-term and Short-term, Combined Amount	$23,354	$112,820	$102,404	$99,766
Other Liabilities	$70,384	$66,570	$89,609	$73,931
Liabilities	$10,368,757	$11,939,884	$13,880,672	$14,721,223
Preferred Stock, Value, Issued	$0	$0	—	$0
Retained Earnings (Accumulated Deficit)	$642,817	$715,767	$809,885	$869,757
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-84,719	$-82,344	$-44,672	$-52,555
Stockholders' Equity Attributable to Parent	$902,666	$999,030	$1,249,868	$1,312,864
Stockholders' Equity Attributable to Noncontrolling Interest	—	$4,466	$4,238	$4,054
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	—	$1,003,496	$1,254,106	$1,316,918
Noninterest-bearing Deposit Liabilities	$259,270	$318,890	$515,051	$605,237
Interest-bearing Deposit Liabilities	$10,015,749	$11,441,604	$13,173,608	$13,942,289
Deposits	$10,275,019	$11,760,494	$13,688,659	$14,547,526
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess	$8,655,865	$10,263,355	$12,009,834	$12,668,670
Servicing Asset at Fair Value, Amount	$48,186	$55,788	$62,941	$66,575
Preferred Stock, Shares Authorized	1,000,000	—	—	1,000,000
Preferred Stock, Shares Issued	0	—	—	0
Operating Lease, Right-of-Use Asset	$2,799	$2,106	$1,655	$1,655
Operating Lease, Liability	$3,180	$2,636	$2,161	$2,161
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	—	$130	$80	$80
Finance Lease, Liability	—	$132	$82	$82

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$73,898	$77,417	$105,643	$139,239
Net Cash Provided by (Used in) Operating Activities	$620,071	$536,468	$158,242	$-36,334
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$165,904	$26,260	$256,104	$264,875
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$582,540	$608,800	$864,904	$936,776
Depreciation, Depletion and Amortization, Nonproduction	$21,271	$23,282	$30,398	$29,849
Payments to Acquire Debt Securities, Available-for-sale	$215,595	$269,631	$301,169	$326,084
Financing Receivable, Credit Loss, Expense (Reversal)	$51,323	$96,212	$96,303	$89,987
Proceeds from Sale and Maturity of Marketable Securities	$114,145	$151,435	$172,133	$195,934
Accretion (Amortization) of Discounts and Premiums, Investments	$-8	$721	$609	$744
Proceeds from Sale of Foreclosed Assets	$0	$8,322	$9,389	$10,740
Deferred Income Tax Expense (Benefit)	$-22,161	$-11,420	$-12,368	$-18,911
Proceeds from Sale, Maturity and Collection of Short-term Investments	$3,750	$0	$0	$0
Payments for Origination and Purchases of Loans Held-for-sale	$877,083	$1,037,474	$1,306,231	$1,274,473
Payments for (Proceeds from) Loans and Leases	$1,626,084	$1,835,442	$1,842,407	$1,708,279
Proceeds from Sale of Loans Held-for-sale	$1,362,803	$1,431,261	$1,259,906	$969,091
Proceeds from Sale of Other Productive Assets	—	$43,598	$0	$0
Gain (Loss) on Sales of Loans, Net	$46,545	$60,899	$62,420	$55,110
Gain (Loss) on Sale of Assets and Asset Impairment Charges	—	—	$-84	$-258
Payments to Acquire Equity Method Investments	$27,209	$8,458	$5,058	$2,378
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$-3,539	$2,403	$1,216	$294
Proceeds from Sale of Equity Method Investments	$7,612	$1,361	$67,665	$68,791
Gain (Loss) on Disposition of Other Assets	—	—	$0	$0
Proceeds from Sale of Property, Plant, and Equipment	$100	$1,043	$4,361	$450
Gain (Loss) on Disposition of Property Plant Equipment	$-377	$-113	$-3,766	$-882
Payments to Acquire Property, Plant, and Equipment	$46,839	$49,307	$14,756	$15,893
Net Cash Provided by (Used in) Investing Activities	$-1,774,922	$-2,079,101	$-1,904,190	$-1,721,713
Income (Loss) from Equity Method Investments	$-5,994	$-10,921	$17,387	$21,599
Equity Securities, FV-NI, Realized Gain (Loss)	$-969	$553	$5,733	$4,709
Equity Method Investment, Other than Temporary Impairment	$14,644	$530	$735	$491
Stock or Unit Option Plan Expense	$272	$0	$0	$0
Restricted Stock or Unit Expense	$17,603	$26,205	$26,210	$26,868
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$125	$-125	$0	$0
Increase (Decrease) in Deposits	$1,390,091	$1,485,475	$1,928,165	$1,952,736
Proceeds from Issuance of Debt	$2,906,071	$99,703	$161	$148
Repayments of Debt	$2,965,920	$10,237	$10,577	$8,041
Proceeds from Stock Options Exercised	$1,168	$2,311	$2,976	$2,025
Proceeds from Stock Plans	$1,396	$1,449	$1,221	$1,046
Proceeds from Issuance of Preferred Stock and Preference Stock	—	—	$96,266	$96,266
Payment, Tax Withholding, Share-based Payment Arrangement	$6,725	$8,926	$7,625	$8,496
Proceeds from Noncontrolling Interests	—	$4,523	$0	$0
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	—	—	$3,047	$7,235
Payments of Ordinary Dividends, Common Stock	—	—	$5,488	$5,527
Net Cash Provided by (Used in) Financing Activities	$1,320,755	$1,568,893	$2,002,052	$2,022,922
Interest Paid, Excluding Capitalized Interest, Operating Activities	$342,766	$436,847	$460,584	$463,081
Income Taxes Paid, Net	$5,303	$38,907	$26,594	$82,992
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	$7,599	$2,375	$37,661	$8,935
Transfer of Loans Held-for-sale to Portfolio Loans	$275,408	$168,303	$166,583	$-197,389
Transfer of Portfolio Loans and Leases to Held-for-sale	$617,189	$475,567	$143,327	$-394,139
Increase (Decrease) in Accounts Receivable and Other Operating Assets	$-35,556	$12,284	$-22,848	$-3,679
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities	$3,970	$18,014	$20,733	$6,868

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Import this data to Google Sheets with:

=jivedata("LOB-PA","financials")

Full statements spill as a table. For one cell: =jivedata("LOB-PA","Revenue") or =jivedata("LOB-PA","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.