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Live Oak Bancshares: 2Q Earnings Snapshot

WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported second-quarter profit of $14.3 million.

The Wilmington, North Carolina-based bank said it had earnings of 34 cents per share. Earnings, adjusted for non-recurring costs, were 35 cents per share.

The bank holding company posted revenue of $71.6 million in the period. Its revenue net of interest expense was $57.7 million, which fell short of Street forecasts.

Live Oak Bancshares shares have climbed 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.85, an increase of 26 percent 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