Live Oak Bancshares, Inc. (LOB) 10-Year Financial Performance & Capital Metrics

LOB • • Banking & Credit

Financial ServicesRegional BanksDigital & Specialized BankingSBA & Specialty Lending

AboutLive Oak Bancshares, Inc. operates as the bank holding company for Live Oak Banking Company that provides various commercial banking products and services to individuals, small businesses, and professionals in North Carolina, the United States. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits. It also offers commercial and industrial loans; construction and development loans; owner occupied and non-owner occupied collateral commercial real estate loans; and commercial land loans. In addition, the company provides settlement, accounting, and securitization services for government guaranteed loans; wealth and investment management services to high-net-worth individuals and families; investment advisory services to a series of funds focused on providing venture capital to new and emerging financial technology companies; and an on-site restaurant location to company employees and business visitors. Live Oak Bancshares, Inc. was incorporated in 2008 and is headquartered in Wilmington, North Carolina.Show more

Net Interest Income $376M +8.9%
Total Revenue $929M +19.7%
Net Income $77M +4.8%
Return on Equity 8.13% -5.7%
Net Interest Margin 2.9% -5.2%
Efficiency Ratio 33.08% -14.2%
ROA 0.64% -8.5%
Equity / Assets 7.75% -3.2%
Book Value per Share 21.84 +9.1%
Tangible BV/Share 21.84 +9.1%
Debt/Equity 0.11 +334.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 33.8%
✓Efficient operations: 33.1% efficiency ratio

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y27.61%

5Y26.27%

3Y22.43%

TTM-

Profit (Net Income) CAGR

10Y22.66%

5Y33.85%

3Y-22.59%

TTM-16.93%

EPS CAGR

10Y17.39%

5Y30.88%

3Y-23.06%

TTM-6.29%

ROCE

10Y Avg12.25%

5Y Avg10.84%

3Y Avg12.57%

Latest8.19%

Peer Comparison

SBA & Specialty Lending

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFINTriumph Financial, Inc.	1.6B	67.15	124.35	3.34%	3.3%	1%		0.16
LOBLive Oak Bancshares, Inc.	1.66B	36.12	21.37	19.67%	8.34%	5.78%	29.41%	0.11
ESQEsquire Financial Holdings, Inc.	901.77M	105.28	20.48	13.67%	31.57%	17.59%	4.33%
FINWFinWise Bancorp	238.99M	17.59	18.91	12.56%	13.07%	7.97%		0.03
FSFGFirst Savings Financial Group, Inc.	224.48M	32.00	16.16	4.58%	10.11%	11.73%	40.32%	1.98
RBBRBB Bancorp	361.56M	21.21	14.43	-1.75%	11.49%	5.09%	15.96%	0.72
HOPEHope Bancorp, Inc.	1.45B	11.28	13.76	-8.63%	9.96%	2.29%	7.39%	0.18
HAFCHanmi Financial Corporation	830.06M	27.71	13.52	8.03%	14.48%	9.31%	6.18%	0.54

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	25.59M	42.65M	78.03M	108.04M	140.08M	194.72M	296.79M	327.5M	345.31M	375.9M
NII Growth %	0.74%	0.67%	0.83%	0.38%	0.3%	0.39%	0.52%	0.1%	0.05%	0.09%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	34.45M	57.27M	103.47M	162.64M	227.98M	288.41M	361.21M	444.47M	688.27M	812.37M
Interest Expense	8.86M	14.62M	25.44M	54.6M	87.9M	93.69M	64.43M	116.97M	342.97M	436.47M
Loan Loss Provision	3.81M	12.54M	9.54M	5.56M	15.21M	40.66M	15.21M	40.94M	51.32M	96.21M
Non-Interest Income+	78.5M	87.52M	99.77M	90.68M	61.53M	89.9M	145.2M	64.36M	88.28M	116.92M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	112.95M	144.79M	203.25M	253.33M	289.51M	378.31M	506.41M	508.83M	776.55M	929.29M
Revenue Growth %	0.39%	0.28%	0.4%	0.25%	0.14%	0.31%	0.34%	0%	0.53%	0.2%
Non-Interest Expense	65.89M	100.42M	70.02M	147.12M	162.94M	196.58M	215.99M	140.59M	299.43M	307.38M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	34.4M	17.21M	98.25M	46.05M	23.46M	47.39M	210.79M	210.32M	82.83M	89.23M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.97%	-0.5%	4.71%	-0.53%	-0.49%	1.02%	3.45%	-0%	-0.61%	0.08%
Pretax Income+	34.4M	17.21M	98.25M	46.05M	23.46M	47.39M	210.79M	210.32M	82.83M	89.23M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	13.79M	3.44M	-2.25M	-5.4M	5.43M	-12.15M	43.79M	34.12M	8.93M	11.82M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	20.63M	13.77M	100.5M	51.45M	18.03M	59.54M	167M	176.21M	73.9M	77.47M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.05%	-0.33%	6.3%	-0.49%	-0.65%	2.3%	1.8%	0.06%	-0.58%	0.05%
Net Income (Continuing)	20.6M	13.76M	100.5M	51.45M	18.03M	59.54M	167M	176.21M	73.9M	77.42M
EPS (Diluted)+	0.65	0.39	2.65	1.24	0.44	1.43	3.71	3.92	1.64	1.69
EPS Growth %	0.91%	-0.4%	5.79%	-0.53%	-0.65%	2.25%	1.59%	0.06%	-0.58%	0.03%
EPS (Basic)	0.66	0.40	2.75	1.28	0.45	1.46	3.87	4.02	1.67	1.72
Diluted Shares Outstanding	31.97M	35.09M	37.86M	41.45M	41.05M	41.77M	45.07M	44.91M	45.09M	45.95M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	112.86M	245.26M	298.27M	324.07M	131.86M	303.67M	191.95M	284.24M	582.79M	609.05M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	806.93M	1.35B	2.09B	2.88B	4.11B	7.02B	7.48B	8.82B	10.02B	11.66B
Investments Growth %	0.47%	0.68%	0.55%	0.38%	0.43%	0.71%	0.07%	0.18%	0.14%	0.16%
Long-Term Investments	753.17M	1.28B	2B	2.5B	3.57B	6.27B	6.57B	7.8B	8.9B	11.63B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	18.74M	7.28M	32.16M	0	0	0	0	0	0
Intangible Assets	0	3.31M	2.72M	4.71M	0	0	0	0	0	0
PP&E (Net)	62.65M	64.66M	178.79M	262.52M	279.1M	259.27M	240.2M	263.29M	257.88M	264.06M
Other Assets	70.18M	90.65M	187.82M	204.98M	296.32M	291.18M	301M	491.03M	409.55M	410.21M
Total Current Assets	166.62M	316.31M	388.63M	704.56M	671.9M	1.05B	1.1B	1.3B	1.71B	634.39M
Total Non-Current Assets	886M	1.44B	2.37B	2.97B	4.14B	6.82B	7.12B	8.56B	9.56B	12.31B
Total Assets+	1.05B	1.76B	2.76B	3.67B	4.81B	7.87B	8.21B	9.86B	11.27B	12.94B
Asset Growth %	0.56%	0.67%	0.57%	0.33%	0.31%	0.64%	0.04%	0.2%	0.14%	0.15%
Return on Assets (ROA)	0.02%	0.01%	0.04%	0.02%	0%	0.01%	0.02%	0.02%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	32.75M	31.82M	26.56M	2.9M	28K	1.54B	318.29M	83.2M	23.35M	112.82M
Net Debt	-80.11M	-213.44M	-271.71M	-321.18M	-131.83M	1.24B	126.34M	-201.04M	-559.44M	-496.23M
Long-Term Debt	4.38M	3.98M	3.57M	1.44M	14K	1.53B	310.28M	33.2M	23.35M	112.82M
Short-Term Debt	24M	23.86M	22.99M	1.44M	0	14.49M	8M	50M	0	0
Other Liabilities	15.6M	15.52M	34.71M	24.41M	53.43M	49.53M	67.93M	76.33M	70.38M	66.57M
Total Current Liabilities	828.79M	1.51B	2.28B	3.15B	4.23B	5.73B	7.12B	8.93B	10.28B	11.76B
Total Non-Current Liabilities	24.35M	23.47M	38.29M	25.86M	53.46M	1.58B	378.22M	109.54M	93.74M	179.39M
Total Liabilities	853.13M	1.53B	2.32B	3.18B	4.28B	7.3B	7.5B	9.04B	10.37B	11.94B
Total Equity+	199.49M	222.85M	436.93M	493.56M	532.39M	567.85M	715.13M	811.03M	902.67M	1B
Equity Growth %	1.17%	0.12%	0.96%	0.13%	0.08%	0.07%	0.26%	0.13%	0.11%	0.11%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.14%	0.07%	0.3%	0.11%	0.04%	0.11%	0.26%	0.23%	0.09%	0.08%
Book Value per Share	6.24	6.35	11.54	11.91	12.97	13.59	15.87	18.06	20.02	21.84
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	187.51M	199.98M	317.73M	328.11M	340.4M	310.62M	312.29M	330.85M	344.57M	365.61M
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	12.14M	23.52M	120.24M	167.12M	180.26M	235.72M	400.89M	572.5M	642.82M	715.77M
Accumulated OCI	-192K	-652K	-1.03M	-1.68M	11.72M	21.51M	1.95M	-92.32M	-84.72M	-82.34M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-334.68M	-221.95M	-287.53M	6.29M	-482.52M	-261M	-119.72M	124.48M	620.07M	536.47M
Operating CF Growth %	-0.28%	0.34%	-0.3%	1.02%	-77.66%	0.46%	0.54%	2.04%	3.98%	-0.13%
Net Income	20.6M	13.76M	100.5M	51.45M	18.03M	59.54M	167M	176.21M	73.9M	77.42M
Depreciation & Amortization	3.44M	4.26M	10.28M	16.39M	19.97M	21.69M	21.37M	20.78M	21.27M	23.28M
Deferred Taxes	936K	-4.29M	12.02M	-5.94M	1.47M	-17.45M	24.81M	27.13M	-22.16M	-11.42M
Other Non-Cash Items	-363.03M	-240.06M	-395.16M	-49.2M	-552.06M	-277.26M	-351.94M	-97.68M	489.66M	415.25M
Working Capital Changes	1.95M	-7.7M	-22.67M	-15.58M	18.32M	-62.26M	2.1M	-22.3M	39.53M	5.73M
Cash from Investing+	59.58M	-320.07M	-535.02M	-845.36M	-684.57M	-2.62B	-149.8M	-1.44B	-1.77B	-2.08B
Purchase of Investments	-24.93M	-37.42M	-43.07M	-347.18M	-253.1M	-396.19M	-428.25M	-442.58M	-246.19M	-285.11M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	22K	0	-7.7M	-209K	0	-895K	0	0	0	0
Other Investing	84.74M	-290.9M	-379.8M	-443.27M	-505.56M	-2.4B	26.43M	-1.27B	-1.6B	-1.9B
Cash from Financing+	347.81M	677.42M	879.81M	863.1M	1.07B	2.98B	154.95M	1.53B	1.32B	1.57B
Dividends Paid	-2.73M	-2.74M	-3.78M	-4.81M	-4.83M	-4.91M	-5.19M	-5.27M	-5.33M	-5.41M
Share Repurchases	0	0	0	0	0	0	-953K	0	0	0
Stock Issued	87.17M	0	113.1M	0	0	0	0	0	0	3.76M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-532K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K
Other Financing	282.95M	680.69M	771.77M	893.02M	1.08B	1.44B	1.38B	1.77B	1.39B	1.48B
Net Change in Cash+	72.7M	135.4M	57.26M	24.04M	-97.91M	96.92M	-114.57M	212.89M	165.9M	26.26M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	29.9M	102.61M	238.01M	295.27M	319.31M	221.4M	318.32M	203.75M	416.64M	582.54M
Cash at End	102.61M	238.01M	295.27M	319.31M	221.4M	318.32M	203.75M	416.64M	582.54M	608.8M
Interest Paid	8.84M	14.52M	25.39M	54.11M	0	91.8M	66.84M	117.52M	342.77M	65.44M
Income Taxes Paid	12.33M	8.24M	7.08M	1.75M	0	11.49M	19.72M	24.71M	5.3M	38.91M
Free Cash Flow+	-365.13M	-232.84M	-411.67M	-105.03M	-519.72M	-281.99M	-122.8M	80.73M	573.23M	487.16M
FCF Growth %	-0.32%	0.36%	-0.77%	0.74%	-3.95%	0.46%	0.56%	1.66%	6.1%	-0.15%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	14.16%	6.52%	30.46%	11.06%	3.52%	10.82%	26.03%	23.09%	8.62%	8.13%
Return on Assets (ROA)	2.39%	0.98%	4.45%	1.6%	0.43%	0.94%	2.08%	1.95%	0.7%	0.64%
Net Interest Margin	2.43%	2.43%	2.83%	2.94%	2.91%	2.47%	3.61%	3.32%	3.06%	2.9%
Efficiency Ratio	58.33%	69.36%	34.45%	58.08%	56.28%	51.96%	42.65%	27.63%	38.56%	33.08%
Equity / Assets	18.95%	12.7%	15.84%	13.45%	11.06%	7.21%	8.71%	8.23%	8.01%	7.75%
Book Value / Share	6.24	6.35	11.54	11.91	12.97	13.59	15.87	18.06	20.02	21.84
NII Growth	73.92%	66.67%	82.97%	38.46%	29.65%	39.01%	52.41%	10.35%	5.44%	8.86%
Dividend Payout	13.25%	19.87%	3.76%	9.35%	26.77%	8.24%	3.11%	2.99%	7.21%	6.98%

Frequently Asked Questions

Valuation & Price

Live Oak Bancshares, Inc. (LOB) has a price-to-earnings (P/E) ratio of 21.4x. This is roughly in line with market averages.

Growth & Financials

Live Oak Bancshares, Inc. (LOB) grew revenue by 19.7% over the past year. This is strong growth.

Yes, Live Oak Bancshares, Inc. (LOB) is profitable, generating $69.6M in net income for fiscal year 2024 (8.3% net margin).

Dividend & Returns

Yes, Live Oak Bancshares, Inc. (LOB) pays a dividend with a yield of 0.33%. This makes it attractive for income-focused investors.

Live Oak Bancshares, Inc. (LOB) has a return on equity (ROE) of 8.1%. This is below average, suggesting room for improvement.

Industry Metrics

Live Oak Bancshares, Inc. (LOB) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.

Live Oak Bancshares, Inc. (LOB) has an efficiency ratio of 33.1%. This is excellent, indicating strong cost control.

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