U.S. Markets open in 3 hrs 59 mins

Live Oak Bancshares: 2Q Earnings Snapshot

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.

_____

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