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Live Oak Bancshares: 1Q Earnings Snapshot

WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported first-quarter profit of $2.4 million.

The bank, based in Wilmington, North Carolina, said it had earnings of 6 cents per share.

The bank holding company posted revenue of $62.9 million in the period. Its revenue net of interest expense was $43.6 million, which beat Street forecasts.

Live Oak Bancshares shares have risen almost 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.23, a decline of 44 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