WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported second-quarter earnings of $4.9 million.
The bank, based in Wilmington, North Carolina, said it had earnings of 12 cents per share. Earnings, adjusted for non-recurring costs, were 14 cents per share.
The bank holding company posted revenue of $69.8 million in the period. Its revenue net of interest expense was $48.6 million, matching Street forecasts.
Live Oak Bancshares shares have risen 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.90, a drop of 47% in the last 12 months.