Live Oak Bancshares posts 4Q profit
Live Oak Bancshares posts fourth-quarter profit of $5.5 million
WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported fourth-quarter net income of $5.5 million.
The bank, based in Wilmington, North Carolina, said it had earnings of 16 cents per share. Earnings, adjusted for non-recurring costs, were 17 cents per share.
The bank holding company posted revenue of $43.2 million in the period. Its adjusted revenue was $38.7 million.
For the year, the company reported profit of $13.8 million, or 39 cents per share. Revenue was reported as $136.2 million.
Live Oak Bancshares shares have risen roughly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.40, an increase of 53 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOB at https://www.zacks.com/ap/LOB
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Keywords: Live Oak Bancshares, Earnings Report
