Live Oak Bancshares, Inc.
LOB NYSE State Commercial Banks Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$578M
18.3%
vs prior year
Efficiency ratio
Noninterest expense as a share of revenue. Lower is better for banks.
58.6%
3.4 pts
Net income
Profit after all expenses, interest and tax.
$106M
36.7%
Return on equity
Net income as a share of average shareholders' equity.
9.4%
1.3 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $2.85 EPS (TTM)
What Live Oak Bancshares, Inc. does
No business description yet.
- Legal name
- Live Oak Bancshares, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 27, 2026
- Accession · CIK
- 0001462120-26-000020
0001462120
Revenue and margins
Live Oak Bancshares, Inc. had $578M of revenue in fiscal 2025, up 18.3% on the year before.
FY16
Revenue $136M
FY17
Revenue $251M
FY18
Revenue $204M
FY19
Revenue $204M
FY20
Revenue $281M
FY21
Revenue $457M
FY22
Revenue $565M
FY23
Revenue $449M
FY24
Revenue $489M
FY25
Revenue $578M
Q3 '23
Revenue $127M
Q4 '23
Revenue $112M
Q1 '24
Revenue $116M
Q2 '24
Revenue $125M
Q3 '24
Revenue $130M
Q4 '24
Revenue $117M
Q1 '25
Revenue $123M
Q2 '25
Revenue $140M
Q3 '25
Revenue $146M
Q4 '25
Revenue $162M
Q1 '26
Revenue $145M
Q2 '26
Revenue $156M
FY16
Net interest share 31.3%
Efficiency ratio 78.2%
FY17
Net interest share 31.1%
Efficiency ratio 57.0%
FY18
Net interest share 52.9%
Efficiency ratio 74.7%
FY19
Net interest share 68.8%
Efficiency ratio 81.0%
FY20
Net interest share 69.4%
Efficiency ratio 68.6%
FY21
Net interest share 64.9%
Efficiency ratio 50.5%
FY22
Net interest share 57.9%
Efficiency ratio 55.6%
FY23
Net interest share 76.9%
Efficiency ratio 70.1%
FY24
Net interest share 76.9%
Efficiency ratio 62.0%
FY25
Net interest share 77.6%
Efficiency ratio 58.6%
Net interest share
Efficiency ratio
Q3 '23
Net interest share 70.2%
Efficiency ratio 58.3%
Q4 '23
Net interest share 80.0%
Efficiency ratio 76.3%
Q1 '24
Net interest share 77.5%
Efficiency ratio 66.9%
Q2 '24
Net interest share 72.8%
Efficiency ratio 61.9%
Q3 '24
Net interest share 74.7%
Efficiency ratio 59.7%
Q4 '24
Net interest share 83.4%
Efficiency ratio 60.0%
Q1 '25
Net interest share 81.8%
Efficiency ratio 65.7%
Q2 '25
Net interest share 78.2%
Efficiency ratio 61.0%
Q3 '25
Net interest share 79.0%
Efficiency ratio 59.7%
Q4 '25
Net interest share 76.1%
Efficiency ratio 48.3%
Q1 '26
Net interest share 82.1%
Efficiency ratio 58.6%
Q2 '26
Net interest share 80.3%
Efficiency ratio 54.1%
Net interest share
Efficiency ratio
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 21.4% a year. Loss periods are shown in red.
FY16
Net income $13.8M
FY17
Net income $100M
FY18
Net income $51.4M
FY19
Net income $18.0M
FY20
Net income $59.5M
FY21
Net income $167M
FY22
Net income $176M
FY23
Net income $73.9M
FY24
Net income $77.5M
FY25
Net income $106M
Q3 '23
Net income $39.8M
Q4 '23
Net income $16.2M
Q1 '24
Net income $27.6M
Q2 '24
Net income $27.0M
Q3 '24
Net income $13.0M
Q4 '24
Net income $9.9M
Q1 '25
Net income $9.7M
Q2 '25
Net income $23.4M
Q3 '25
Net income $26.5M
Q4 '25
Net income $46.2M
Q1 '26
Net income $30.0M
Q2 '26
Net income $36.8M
FY16
Diluted EPS $0.39
FY17
Diluted EPS $2.65
FY18
Diluted EPS $1.24
FY19
Diluted EPS $0.44
FY20
Diluted EPS $1.43
FY21
Diluted EPS $3.71
FY22
Diluted EPS $3.92
FY23
Diluted EPS $1.64
FY24
Diluted EPS $1.69
FY25
Diluted EPS $2.23
Q3 '23
Diluted EPS $0.88
Q4 '23
Diluted EPS $0.36
Q1 '24
Diluted EPS $0.60
Q2 '24
Diluted EPS $0.59
Q3 '24
Diluted EPS $0.28
Q4 '24
Diluted EPS $0.22
Q1 '25
Diluted EPS $0.21
Q2 '25
Diluted EPS $0.51
Q3 '25
Diluted EPS $0.55
Q4 '25
Diluted EPS $0.96
Q1 '26
Diluted EPS $0.60
Q2 '26
Diluted EPS $0.74
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
FY16
ROE 6.2%
ROTE 6.2%
Efficiency ratio 78.2%
FY17
ROE 30.5%
ROTE 23.2%
Efficiency ratio 57.0%
FY18
ROE 11.1%
ROTE 10.4%
Efficiency ratio 74.7%
FY19
ROE 3.5%
ROTE 3.4%
Efficiency ratio 81.0%
FY20
ROE 10.8%
ROTE 10.5%
Efficiency ratio 68.6%
FY21
ROE 26.0%
ROTE 23.4%
Efficiency ratio 50.5%
FY22
ROE 23.1%
ROTE 21.8%
Efficiency ratio 55.6%
FY23
ROE 8.6%
ROTE 8.2%
Efficiency ratio 70.1%
FY24
ROE 8.1%
ROTE 7.8%
Efficiency ratio 62.0%
FY25
ROE 9.4%
ROTE 8.2%
Efficiency ratio 58.6%
ROE
ROTE
Efficiency ratio
Dividends, buybacks and share count
Live Oak Bancshares, Inc. returned $5.5M to shareholders in fiscal 2025, 4% of free cash flow. The diluted share count rose 0.5%.
FY16
Dividends $2.7M
Buybacks —
FY17
Dividends $3.8M
Buybacks —
FY18
Dividends $4.8M
Buybacks —
FY19
Dividends $4.8M
Buybacks —
FY20
Dividends $4.9M
Buybacks —
FY21
Dividends $5.2M
Buybacks —
FY22
Dividends $5.3M
Buybacks —
FY23
Dividends $5.3M
Buybacks —
FY24
Dividends $5.4M
Buybacks —
FY25
Dividends $5.5M
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends $1.3M
Buybacks —
Q4 '23
Dividends $1.3M
Buybacks —
Q1 '24
Dividends $1.3M
Buybacks —
Q2 '24
Dividends $1.4M
Buybacks —
Q3 '24
Dividends $1.4M
Buybacks —
Q4 '24
Dividends $1.4M
Buybacks —
Q1 '25
Dividends $1.4M
Buybacks —
Q2 '25
Dividends $1.4M
Buybacks —
Q3 '25
Dividends $1.4M
Buybacks —
Q4 '25
Dividends $1.4M
Buybacks —
Q1 '26
Dividends $1.4M
Buybacks —
Q2 '26
Dividends $1.4M
Buybacks —
Dividends
Buybacks
FY16
Diluted shares 0.04B
FY17
Diluted shares 0.04B
FY18
Diluted shares 0.04B
FY19
Diluted shares 0.04B
FY20
Diluted shares 0.04B
FY21
Diluted shares 0.05B
FY22
Diluted shares 0.04B
FY23
Diluted shares 0.05B
FY24
Diluted shares 0.05B
FY25
Diluted shares 0.05B
Balance sheet
Loans, deposits and capital at each fiscal year end.
FY16
Loans $889M
Deposits $1.5B
FY17
Loans $1.3B
Deposits $2.3B
FY18
Loans $1.8B
Deposits $3.1B
FY19
Loans $2.6B
Deposits $4.2B
FY20
Loans $5.1B
Deposits $5.7B
FY21
Loans $5.5B
Deposits $7.1B
FY22
Loans $7.2B
Deposits $8.9B
FY23
Loans $8.5B
Deposits $10.3B
FY24
Loans $10.1B
Deposits $11.8B
FY25
Loans $11.8B
Deposits $13.7B
Loans
Deposits
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | $5.5B | $7.2B | $8.5B | $10.1B | $11.8B |
| Deposits | $7.1B | $8.9B | $10.3B | $11.8B | $13.7B |
| Loans / deposits | 76.7% | 81.6% | 82.8% | 85.6% | 86.1% |
| Total assets | $8.2B | $9.9B | $11.3B | $12.9B | $15.1B |
| Shareholders' equity | $715M | $811M | $903M | $999M | $1.2B |
| Goodwill | — | $1.8M | $1.8M | $1.8M | — |
| Provision / loans | 0.3% | 0.6% | 0.6% | 1.0% | 0.8% |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $136M | $251M | $204M | $204M | $281M | $457M | $565M | $449M | $489M | $578M |
| Net interest income | $42.6M | $78.0M | $108M | $140M | $195M | $297M | $328M | $345M | $376M | $448M |
| Noninterest income | $93.5M | $173M | $96.3M | $63.5M | $86.0M | $160M | $238M | $104M | $113M | $129M |
| Noninterest expense | $106M | $143M | $153M | $165M | $193M | $231M | $314M | $315M | $303M | $339M |
| Provision for credit losses | $12.5M | $9.5M | $5.6M | $15.2M | $40.7M | $15.2M | $40.9M | $51.3M | $96.2M | $96.3M |
| Interest expense | $14.6M | $25.4M | $54.6M | $87.9M | $93.7M | $64.4M | $117M | $343M | — | — |
| Pretax income | $17.2M | $98.3M | $46.0M | $23.5M | $47.4M | $211M | $210M | $82.8M | $89.2M | $143M |
| Income tax | $3.4M | −$2.2M | −$5.4M | $5.4M | −$12.2M | $43.8M | $34.1M | $8.9M | $11.8M | $37.2M |
| Net income | $13.8M | $100M | $51.4M | $18.0M | $59.5M | $167M | $176M | $73.9M | $77.5M | $106M |
| Net income to common | $13.8M | $100M | $51.4M | $18.0M | $59.5M | $167M | $176M | $73.9M | $77.5M | $103M |
| Diluted EPS | $0.39 | $2.65 | $1.24 | $0.44 | $1.43 | $3.71 | $3.92 | $1.64 | $1.69 | $2.23 |
| Diluted shares | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.05B | 0.04B | 0.05B | 0.05B | 0.05B |
| Cash flow | ||||||||||
| Cash from operations | −$222M | −$288M | $6.3M | −$483M | −$261M | −$120M | −$301M | $185M | $157M | $158M |
| Capital expenditure | $10.9M | $124M | $111M | $37.2M | $21.0M | $3.1M | $43.8M | $46.8M | $49.3M | $14.8M |
| Free cash flow | −$233M | −$412M | −$105M | −$520M | −$282M | −$123M | −$344M | $138M | $107M | $143M |
| Depreciation and amortization | $4.3M | $10.3M | $16.4M | $20.0M | $21.7M | $21.4M | $20.8M | $21.3M | $23.3M | $30.4M |
| Acquisitions | $0.0M | $7.7M | $0.0M | — | $0.9M | $0.0M | $0.0M | — | — | — |
| Dividends paid | $2.7M | $3.8M | $4.8M | $4.8M | $4.9M | $5.2M | $5.3M | $5.3M | $5.4M | $5.5M |
| Dividends and buybacks | $2.7M | $3.8M | $4.8M | $4.8M | $4.9M | $5.2M | $5.3M | $5.3M | $5.4M | $5.5M |
| Balance sheet | ||||||||||
| Cash and short-term investments | — | — | — | $221M | $318M | $204M | $417M | $583M | $609M | $865M |
| Total debt | $27.8M | $26.6M | $1.5M | — | — | — | — | — | — | — |
| Finance lease liabilities | — | — | — | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M |
| Loans, net | $889M | $1.3B | $1.8B | $2.6B | $5.1B | $5.5B | $7.2B | $8.5B | $10.1B | $11.8B |
| Deposits | $1.5B | $2.3B | $3.1B | $4.2B | $5.7B | $7.1B | $8.9B | $10.3B | $11.8B | $13.7B |
| Property and equipment, net | $64.7M | $179M | $263M | $279M | $259M | $240M | $263M | $258M | $264M | $240M |
| Goodwill | — | — | — | — | — | — | $1.8M | $1.8M | $1.8M | — |
| Intangible assets | — | $4.3M | — | — | — | — | — | — | — | — |
| Total assets | $1.8B | $2.8B | $3.7B | $4.8B | $7.9B | $8.2B | $9.9B | $11.3B | $12.9B | $15.1B |
| Total liabilities | $1.5B | $2.3B | $3.2B | $4.3B | $7.3B | $7.5B | $9.0B | $10.4B | $11.9B | $13.9B |
| Preferred stock | $0.0M | $0.0M | — | — | — | $0.0M | $0.0M | $0.0M | $0.0M | — |
| Shareholders' equity | $223M | $437M | $494M | $532M | $568M | $715M | $811M | $903M | $999M | $1.2B |
| Margins | ||||||||||
| Net margin | 10.1% | 40.0% | 25.2% | 8.9% | 21.2% | 36.5% | 31.2% | 16.4% | 15.9% | 18.3% |
| FCF margin | −171.0% | −164.0% | −51.4% | −255.3% | −100.4% | −26.9% | −60.9% | 30.7% | 22.0% | 24.8% |
| Net interest share of revenue | 31.3% | 31.1% | 52.9% | 68.8% | 69.4% | 64.9% | 57.9% | 76.9% | 76.9% | 77.6% |
| Efficiency ratio | 78.2% | 57.0% | 74.7% | 81.0% | 68.6% | 50.5% | 55.6% | 70.1% | 62.0% | 58.6% |
| Returns | ||||||||||
| Return on equity | 6.2% | 30.5% | 11.1% | 3.5% | 10.8% | 26.0% | 23.1% | 8.6% | 8.1% | 9.4% |
| Return on assets | 0.8% | 4.5% | 1.6% | 0.4% | 0.9% | 2.1% | 2.0% | 0.7% | 0.6% | 0.8% |
| Return on tangible equity | 6.2% | 23.2% | 10.4% | 3.4% | 10.5% | 23.4% | 21.8% | 8.2% | 7.8% | 8.2% |
| Growth | ||||||||||
| Revenue growth | — | 84.3% | −18.6% | −0.3% | 37.9% | 62.8% | 23.7% | −20.5% | 8.7% | 18.3% |
| Net income growth | — | 629.7% | −48.8% | −64.9% | 230.2% | 180.5% | 5.5% | −58.1% | 4.8% | 36.7% |
| EPS growth | — | 579.5% | −53.2% | −64.5% | 225.0% | 159.4% | 5.7% | −58.2% | 3.0% | 32.0% |
| FCF growth | — | — | — | — | — | — | — | — | −22.2% | 33.5% |
| Share count change | — | 7.9% | 9.5% | −0.9% | 1.7% | 7.9% | −0.4% | 0.4% | 1.6% | 0.5% |
| Financial health | ||||||||||
| Debt / equity | 0.1x | 0.1x | 0.0x | — | — | — | — | — | — | — |
| Loans / deposits | 59.9% | 58.4% | 57.5% | 61.5% | 89.1% | 76.7% | 81.6% | 82.8% | 85.6% | 86.1% |
| Provision / loans | 1.4% | 0.7% | 0.3% | 0.6% | 0.8% | 0.3% | 0.6% | 0.6% | 1.0% | 0.8% |
| Capital allocation | ||||||||||
| Capex / revenue | 8.0% | 49.5% | 54.5% | 18.3% | 7.5% | 0.7% | 7.7% | 10.4% | 10.1% | 2.6% |
| Payouts / FCF | — | — | — | — | — | — | — | 3.9% | 5.0% | 3.8% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 4.0 | 3.0 | — | — | — | — | — | — | — |
| Accruals ratio | 13.4% | 17.2% | 1.4% | 11.8% | 5.1% | 3.6% | 5.3% | −1.1% | −0.7% | −0.4% |
Source: SEC EDGAR XBRL filings (CIK 0001462120). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.