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Live Oak Bancshares posts 1Q profit

WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported first-quarter net income of $6.1 million.

The Wilmington, North Carolina-based bank said it had earnings of 17 cents per share.

The bank holding company posted revenue of $46.2 million in the period. Its adjusted revenue was $41.4 million.

Live Oak Bancshares shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.20, a rise of 49 percent 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

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Keywords: Live Oak Bancshares, Earnings Report