WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported fourth-quarter net income of $10.5 million.
The Wilmington, North Carolina-based bank said it had earnings of 26 cents per share.
The bank holding company posted revenue of $62.8 million in the period. Its revenue net of interest expense was $46.9 million, falling short of Street forecasts.
For the year, the company reported profit of $51.4 million, or $1.24 per share. Revenue was reported as $211.8 million.
Live Oak Bancshares shares have increased 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.41, a decrease of 38 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