WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported third-quarter earnings of $14.3 million.
The Wilmington, North Carolina-based bank said it had earnings of 34 cents per share. Earnings, adjusted for one-time gains and costs, were 40 cents per share.
The bank holding company posted revenue of $66.2 million in the period. Its revenue net of interest expense was $52.1 million, which missed Street forecasts.
Live Oak Bancshares shares have decreased 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.25, a fall of 14 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