WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported second-quarter profit of $3.8 million.
The bank, based in Wilmington, North Carolina, said it had earnings of 9 cents per share.
The bank holding company posted revenue of $89.2 million in the period. Its revenue net of interest expense was $63.3 million, which topped Street forecasts.
Live Oak Bancshares shares have fallen 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.81, a fall of almost 3% in the last 12 months.