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Live Oak Bancshares: 3Q Earnings Snapshot

WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported third-quarter profit of $3.9 million.

The Wilmington, North Carolina-based bank said it had earnings of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.

The bank holding company posted revenue of $79.7 million in the period. Its revenue net of interest expense was $56.2 million, which topped Street forecasts.

Live Oak Bancshares shares have increased 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.50, a drop of 16% 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