Live Oak Bancshares, Inc 8-K, filed Oct 21, 2026

Live Oak Bancshares, Inc. (LOB)

8-K 2026-10-21 For: 2026-10-21

Added on October 22, 2026

About this 8-K

Live Oak Bancshares, Inc filed this 8-K on October 21, 2026.

Live Oak Bancshares, Inc. reported third quarter of 2026 net income attributable to common shareholders of $24.3 million, or $0.52 per diluted common share. Loan production reached $2.1 billion, while provision expense for credit losses rose to $54.7 million. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Voting Common Stock, no par value per share	LOB	New York Stock Exchange LLC
Depositary Shares, Each Representing a 1/40th Interest in a Share of 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock, no par value per share	LOB/PA	New York Stock Exchange LLC


Exhibit Number						Description

99.1						Press Release dated October 21, 2026

104						Cover Page Interactive Data File (embedded within the Inline XBRL document)


	LIVE OAK BANCSHARES, INC.

Date: October 21, 2026	By:	/s/ Walter J. Phifer
		Walter J. Phifer Chief Financial Officer


(Dollars in thousands, except per share data)										3Q 2026 Change vs.
										2Q 2026				3Q 2025
	3Q 2026			2Q 2026			3Q 2025			$		%		$		%
Total revenue (1)	$	175,646		$	156,145		$	142,330		$	19,501	12.5	%	$	33,316	23.4	%
Total noninterest expense	85,720			84,525			83,516			1,195		1.4		2,204		2.6
Provision for credit losses	54,700			25,800			22,242			28,900		112.0		32,458		145.9
Income before taxes	35,226			45,820			36,572			(10,594)		(23.1)		(1,346)		(3.7)
Effective tax rate	25.4		%	19.9		%	27.6		%	n/a		n/a		n/a		n/a
Net income attributable to common shareholders	$	24,260		$	34,701		$	25,562		$	(10,441)	(30.1)	%	$	(1,302)	(5.1)	%
Diluted earnings per common share	0.52			0.74			0.55			(0.22)		(29.7)		(0.03)		(5.5)
Loan and lease production	2,133,637			1,548,432			1,648,711			585,205		37.8		484,926		29.4

Total loans and leases	13,869,854			13,142,671			11,915,511			727,183		5.5		1,954,343		16.4

Total assets	16,965,575			16,038,141			14,665,902			927,434		5.8		2,299,673		15.7
Total deposits	15,468,175			14,547,526			13,290,723			920,649		6.3		2,177,452		16.4


LIVE OAK BANCSHARES, INC.
(Exact name of registrant as specified in its charter)


Not Applicable
(Former name or former address, if changed since last report)


	Three Months Ended										3Q 2026 Change vs.
	3Q 2026		2Q 2026		1Q 2026		4Q 2025		3Q 2025		2Q 2026	3Q 2025
Interest income											%	%
Loans and fees on loans	$	237,270	$	221,705	$	214,129	$	218,852	$	211,599	7.0	12.1
Investment securities, taxable	14,254		13,411		13,009		12,679		12,175		6.3	17.1
Other interest earning assets	7,953		6,601		6,726		8,124		7,654		20.5	3.9
Total interest income	259,477		241,717		233,864		239,655		231,428		7.3	12.1
Interest expense
Deposits	124,850		114,776		112,847		114,879		114,266		8.8	9.3
Borrowings	1,618		1,603		1,617		1,656		1,677		0.9	(3.5)
Total interest expense	126,468		116,379		114,464		116,535		115,943		8.7	9.1
Net interest income	133,009		125,338		119,400		123,120		115,485		6.1	15.2
Provision for credit losses	54,700		25,800		20,100		21,845		22,242		112.0	145.9
Net interest income after provision for credit losses	78,309		99,538		99,300		101,275		93,243		(21.3)	(16.0)
Noninterest income
Loan servicing revenue	9,710		9,194		9,094		9,227		8,812		5.6	10.2
Loan servicing asset revaluation	(2,605)		(4,278)		(3,487)		(3,932)		(4,360)		39.1	40.3
Net gains on sales of loans	20,893		17,554		15,425		12,313		17,099		19.0	22.2
Net (loss) gain on loans accounted for under the fair value option	(66)		291		(1,165)		1,518		(350)		(122.7)	81.1
Equity method investments income (loss)	553		74		(817)		23,812		(1,470)		647.3	137.6
Equity security investments (losses) gains, net	(2,573)		—		—		4,691		18		(100.0)	(14,394.4)
Lease income	2,088		2,238		2,135		2,196		2,179		(6.7)	(4.2)

Other noninterest income	14,637		5,734		4,889		(38)		4,917		155.3	197.7
Total noninterest income	42,637		30,807		26,074		49,787		26,845		38.4	58.8
Noninterest expense
Salaries and employee benefits	46,918		48,776		49,354		47,988		49,910		(3.8)	(6.0)
Travel expense	1,756		1,933		1,463		1,715		1,618		(9.2)	8.5
Professional services expense	2,924		2,938		2,516		2,855		1,999		(0.5)	46.3
Advertising and marketing expense	2,314		2,734		3,051		2,298		1,839		(15.4)	25.8
Occupancy expense	2,384		2,364		2,410		2,317		2,339		0.8	1.9
Technology expense	10,263		9,608		9,749		13,397		10,234		6.8	0.3
Equipment expense	3,595		3,662		3,693		3,677		3,320		(1.8)	8.3
Other loan origination and maintenance expense	5,101		4,864		5,919		4,917		4,777		4.9	6.8
Renewable energy tax credit investment impairment	310		26		—		129		336		1,092.3	(7.7)
FDIC insurance	4,197		4,788		4,401		3,933		3,643		(12.3)	15.2

Other expense	5,958		2,832		2,737		5,927		3,501		110.4	70.2
Total noninterest expense	85,720		84,525		85,293		89,153		83,516		1.4	2.6
Income before taxes	35,226		45,820		40,081		61,909		36,572		(23.1)	(3.7)
Income tax expense	8,961		9,116		10,134		15,787		10,106		(1.7)	(11.3)
Net income	26,265		36,704		29,947		46,122		26,466		(28.4)	(0.8)
Net loss attributable to non-controlling interest	88		91		93		88		50		(3.3)	76.0
Net income attributable to Live Oak Bancshares, Inc.	26,353		36,795		30,040		46,210		26,516		(28.4)	(0.6)
Preferred stock dividends	2,093		2,094		2,094		2,094		954		—	119.4
Net income attributable to common shareholders	$	24,260	$	34,701	$	27,946	$	44,116	$	25,562	(30.1)	(5.1)
Earnings per common share
Basic	$	0.52	$	0.75	$	0.61	$	0.96	$	0.56	(30.7)	(7.1)
Diluted	$	0.52	$	0.74	$	0.60	$	0.95	$	0.55	(29.7)	(5.5)
Weighted average shares outstanding
Basic	46,325,262		46,265,757		46,138,609		45,906,268		45,780,794
Diluted	46,869,123		46,594,482		46,509,040		46,298,408		46,216,958


	As of the quarter ended										3Q 2026 Change vs.
	3Q 2026		2Q 2026		1Q 2026		4Q 2025		3Q 2025		2Q 2026	3Q 2025
Assets											%	%
Cash and due from banks	$	1,099,902	$	927,630	$	816,135	$	864,904	$	892,445	18.6	23.2

Certificates of deposit with other banks	250		250		250		250		250		—	—
Investment securities available-for-sale	1,500,709		1,467,855		1,434,538		1,427,401		1,373,219		2.2	9.3
Loans held for sale	496,807		511,812		435,313		420,055		360,693		(2.9)	37.7
Loans and leases held for investment (1)	13,373,047		12,630,859		12,158,216		11,973,622		11,554,818		5.9	15.7
Allowance for credit losses on loans and leases	(213,630)		(193,417)		(193,279)		(192,264)		(185,700)		(10.5)	(15.0)
Net loans and leases	13,159,417		12,437,442		11,964,937		11,781,358		11,369,118		5.8	15.7
Premises and equipment, net	220,894		231,198		235,329		240,203		241,140		(4.5)	(8.4)
Foreclosed assets	8,484		11,017		12,005		8,208		11,024		(23.0)	(23.0)
Servicing assets	71,215		66,733		64,677		63,155		62,491		6.7	14.0
Other assets	407,897		384,204		336,849		329,244		355,522		6.2	14.7
Total assets	$	16,965,575	$	16,038,141	$	15,300,033	$	15,134,778	$	14,665,902	5.8	15.7
Liabilities and shareholders’ equity
Liabilities
Deposits:
Noninterest-bearing	$	638,332	$	605,237	$	510,917	$	515,051	$	494,019	5.5	29.2
Interest-bearing	14,829,843		13,942,289		13,324,141		13,173,608		12,796,704		6.4	15.9
Total deposits	15,468,175		14,547,526		13,835,058		13,688,659		13,290,723		6.3	16.4
Borrowings	99,793		99,766		99,746		102,404		105,045		—	(5.0)
Other liabilities	85,373		73,931		83,468		89,609		67,585		15.5	26.3
Total liabilities	15,653,341		14,721,223		14,018,272		13,880,672		13,463,353		6.3	16.3
Shareholders’ equity
Preferred stock	96,266		96,266		96,266		96,266		96,266		—	—
Class A common stock (voting)	404,119		399,396		392,258		388,389		383,288		1.2	5.4

Retained earnings	892,626		869,757		836,444		809,885		770,820		2.6	15.8
Accumulated other comprehensive loss	(84,743)		(52,555)		(47,352)		(44,672)		(52,151)		(61.2)	(62.5)
Total shareholders' equity attributed to Live Oak Bancshares, Inc.	1,308,268		1,312,864		1,277,616		1,249,868		1,198,223		(0.4)	9.2
Non-controlling interest	3,966		4,054		4,145		4,238		4,326		(2.2)	(8.3)
Total shareholders' equity	1,312,234		1,316,918		1,281,761		1,254,106		1,202,549		(0.4)	9.1
Total liabilities and shareholders’ equity	$	16,965,575	$	16,038,141	$	15,300,033	$	15,134,778	$	14,665,902	5.8	15.7


	Nine Months Ended
	September 30, 2026		September 30, 2025
Interest income
Loans and fees on loans	$	673,104	$	611,728
Investment securities, taxable	40,674		34,912
Other interest earning assets	21,280		22,177
Total interest income	735,058		668,817
Interest expense
Deposits	352,473		338,534
Borrowings	4,838		5,045
Total interest expense	357,311		343,579
Net interest income	377,747		325,328
Provision for credit losses	100,600		74,458
Net interest income after provision for credit losses	277,147		250,780
Noninterest income
Loan servicing revenue	27,998		25,675
Loan servicing asset revaluation	(10,370)		(12,145)
Net gains on sales of loans	53,872		50,107
Net loss on loans accounted for under the fair value option	(940)		(302)
Equity method investments (loss) income	(190)		(6,425)
Equity security investments gain (losses), net	(2,573)		1,042
Lease income	6,461		7,855

Other noninterest income	25,260		13,864
Total noninterest income	99,518		79,671
Noninterest expense
Salaries and employee benefits	145,048		141,447
Travel expense	5,152		5,316
Professional services expense	8,378		7,897
Advertising and marketing expense	8,099		9,924
Occupancy expense	7,158		7,445
Technology expense	29,620		29,551
Equipment expense	10,950		10,750
Other loan origination and maintenance expense	15,884		13,552
Renewable energy tax credit investment impairment	336		606
FDIC insurance	13,386		10,739

Other expense	11,527		12,318
Total noninterest expense	255,538		249,545
Income before taxes	121,127		80,906
Income tax expense	28,211		21,385
Net income	92,916		59,521
Net loss attributable to non-controlling interest	272		140
Net income attributable to Live Oak Bancshares, Inc.	93,188		59,661
Preferred stock dividends	6,281		954
Net income attributable to common shareholders	$	86,907	$	58,707
Earnings per common share
Basic	$	1.88	$	1.29
Diluted	$	1.86	$	1.28
Weighted average shares outstanding
Basic	46,243,893		45,632,313
Diluted	46,658,232		45,956,835


	As of and for the three months ended
	3Q 2026			2Q 2026			1Q 2026			4Q 2025			3Q 2025
Income Statement Data
Net income attributable to common shareholders	$	24,260		$	34,701		$	27,946		$	44,116		$	25,562
Per Common Share
Net income, diluted	$	0.52		$	0.74		$	0.60		$	0.95		$	0.55
Dividends declared - common	0.03			0.03			0.03			0.03			0.03
Book value per common share	26.13			26.29			25.55			25.06			24.03
Tangible book value per common share (1)	26.05			26.20			25.46			24.97			23.96
Performance Ratios
Return on average assets (annualized)	0.59		%	0.90		%	0.74		%	1.19		%	0.72		%
Return on average common equity (annualized)	7.70			11.36			9.39			15.25			9.32
Net interest margin	3.30			3.33			3.27			3.38			3.33
Efficiency ratio (1)	48.80			54.13			58.63			51.56			58.68
Noninterest income to total revenue	24.27			19.73			17.92			28.79			18.86
Selected Loan Metrics
Loans and leases originated	$	2,133,637		$	1,548,432		$	1,368,311		$	1,638,113		$	1,648,711
Outstanding balance of sold loans serviced	6,338,443			5,991,590			5,943,787			5,599,724			5,563,363
Asset Quality Ratios
Allowance for credit losses to loans and leases held for investment (3)	1.62		%	1.56		%	1.62		%	1.64		%	1.65		%
Net charge-offs (3)	$	32,087		$	24,162		$	18,585		$	13,739		$	16,816
Net charge-offs to average loans and leases held for investment (2) (3)	1.00		%	0.80		%	0.63		%	0.48		%	0.61		%

Nonperforming loans and leases at historical cost (3)
Unguaranteed	$	138,422		$	124,336		$	116,791		$	101,371		$	76,887
Guaranteed	370,267			346,419			327,409			399,786			379,381
Total	508,689			470,755			444,200			501,157			456,268
Unguaranteed nonperforming historical cost loans and leases, to loans and leases held for investment (3)	1.05		%	1.00		%	0.98		%	0.87		%	0.68		%

Nonperforming loans at fair value (4)
Unguaranteed	$	11,607		$	6,623		$	6,884		$	7,715		$	6,775
Guaranteed	46,300			52,695			54,679			53,887			54,887
Total	57,907			59,318			61,563			61,602			61,662
Unguaranteed nonperforming fair value loans to fair value loans held for investment (4)	5.36		%	2.85		%	2.81		%	2.96		%	2.42		%

Capital Ratios
Common equity tier 1 capital (to risk-weighted assets)	9.94		%	10.42		%	10.63		%	10.53		%	10.51		%
Tier 1 leverage capital (to average assets)	8.23			8.59			8.47			8.48			8.57


	Three Months Ended September 30, 2026						Three Months Ended June 30, 2026						Three Months Ended September 30, 2025
	Average Balance		Interest		Average Yield/Rate		Average Balance		Interest		Average Yield/Rate		Average Balance		Interest		Average Yield/Rate
Interest-earning assets:
Interest-earning balances in other banks	$	818,936	$	7,953	3.85	%	$	710,110	$	6,601	3.73	%	$	701,059	$	7,654	4.33	%

Investment securities	1,577,763		14,254		3.58		1,519,670		13,411		3.54		1,418,810		12,175		3.40
Loans held for sale	571,358		11,460		7.96		527,857		10,441		7.93		396,084		8,103		8.12
Loans and leases held for investment (1)	13,022,914		225,810		6.88		12,322,003		211,264		6.88		11,249,234		203,496		7.18
Total interest-earning assets	15,990,971		259,477		6.44		15,079,640		241,717		6.43		13,765,187		231,428		6.67
Less: Allowance for credit losses on loans and leases	(192,700)						(193,304)						(182,001)
Noninterest-earning assets	586,176						537,352						530,529
Total assets	$	16,384,447					$	15,423,688					$	14,113,715
Interest-bearing liabilities:

Savings	$	7,661,348	$	64,020	3.32	%	$	7,170,652	$	58,289	3.26	%	$	6,608,380	$	58,657	3.52	%

Certificates of deposit	5,856,418		55,322		3.75		5,637,001		51,968		3.70		5,272,818		51,443		3.87
Other interest-bearing deposits	747,469		5,508		2.92		629,105		4,519		2.88		498,455		4,166		3.32
Total deposits	14,265,235		124,850		3.47		13,436,758		114,776		3.43		12,379,653		114,266		3.66
Borrowings	99,761		1,618		6.43		99,743		1,603		6.45		106,744		1,677		6.23
Total interest-bearing liabilities	14,364,996		126,468		3.49		13,536,501		116,379		3.45		12,486,397		115,943		3.68
Noninterest-bearing deposits	594,809						536,054						401,916
Noninterest-bearing liabilities	64,497						29,222						63,133
Shareholders' equity	1,356,092						1,317,767						1,157,893
Non-controlling interest	4,053						4,144						4,376
Total liabilities and shareholders' equity	$	16,384,447					$	15,423,688					$	14,113,715
Net interest income and interest rate spread			$	133,009	2.95	%			$	125,338	2.98	%			$	115,485	2.99	%
Net interest margin					3.30						3.33						3.33
Ratio of average interest-earning assets to average interest-bearing liabilities					111.32	%					111.40	%					110.24	%