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Live Oak Bancshares Inc - LOB STOCK NEWS

Welcome to our dedicated news page for Live Oak Bancshares (Ticker: LOB), a resource for investors and traders seeking the latest updates and insights on Live Oak Bancshares.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Live Oak Bancshares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Live Oak Bancshares's position in the market.

Rhea-AI Summary
Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has invested in Anatomy Financial, an AI-powered financial automation solution for healthcare billing companies. Anatomy uses AI to streamline healthcare back-office operations, digitize paper remittances, and eliminate post-processing work for claims. Co-CEOs Callum and Sasha King aim to modernize financial workflows in healthcare with AI technology.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.71%
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none
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Rhea-AI Summary
Live Oak Bancshares, Inc. reported a net income of $16.2 million for Q4 2023 and $73.9 million for the full year. The company attributes its success to growing loans, deposits, and revenue, supporting small business owners. However, total revenue decreased by 19% in 2023, and net income declined by 58%. Loan and lease production also decreased by 2%, and the effective tax rate decreased from 16.2% to 10.8%. The Company recognized net charge-offs for loans carried at historical cost of $4.4 million compared to $9.1 million in the third quarter of 2023 and $1.4 million in the fourth quarter of 2022. The provision for loan and lease credit losses for the fourth quarter of 2023 totaled $9.0 million compared to $10.3 million for the third quarter of 2023 and $19.7 million for the fourth quarter of 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.18%
Tags
earnings
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Rhea-AI Summary
ModernFi has closed an $18.7 million Series A funding round led by Canapi Ventures, with participation from Andreessen Horowitz, Remarkable Ventures, and leading banks Huntington National Bank, First Horizon, and Regions. The company's total raised to date now exceeds $23 million. ModernFi's tech-forward platform aims to help community and regional banks grow, retain, and manage their deposits in a fast-changing banking environment. The company's deposit network offers modern tools to attract and retain clients, drive growth, and increase balance sheet stability. ModernFi's solutions streamline onboarding and operations for banks and their clients, increasing the usability and reach of sweep and reciprocal products.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.2%
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Rhea-AI Summary
Live Oak Bancshares, Inc. (LOB) will release its fourth quarter 2023 financial results on January 24, 2024, followed by a conference call on January 25, 2024, to discuss the company's financial results and business outlook. The call will be accessible by telephone and webcast, with a supplementary slide presentation available on the website. A replay will be available for 12 months after the event.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.25%
Tags
earnings
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Rhea-AI Summary
Stiegler EdTech (Ticker: SEDT) partners with Live Oak Bank to expand Varsity Esports & STEM League (VESL) to Eastern NC, offering high school students valuable coding and technology skills. The program aims to provide scholarships, needs-based aid, and financial incentives to pursue higher education and technology careers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.96%
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Rhea-AI Summary
On.Energy (Ticker: ONE) closes $40 million construction and permanent debt facilities for an 80 MWh portfolio in Texas with financing provided by Live Oak Bank. The projects are set to come online in Q3 of 2024 and will support the balancing of the ERCOT grid by providing ancillary services and arbitrage. The portfolio includes greenfield development sites and projects acquired through M&A. On.Energy continues to advance a pipeline of over 1GWh of utility-scale energy storage systems across ERCOT, CAISO, and beyond, with a follow-on portfolio of projects of 160MWh expected to begin operation by Q3 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.65%
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none
Rhea-AI Summary
Live Oak Bank - Live Oak Bank named most active SBA 7(a) lender by dollar amount for sixth consecutive year. The U.S. Small Business Administration posted the results on their website, displaying the top SBA 7(a) lenders by dollar amount and loan volume for the 2023 fiscal year. Live Oak Bank approved 1,215 loans, totaling over $1.8 billion, demonstrating their commitment to delivering capital to American small business owners. Chairman and CEO, James S. (Chip) Mahan III, emphasized the importance of the SBA 7(a) program in providing vital financing to small business owners, while President and CFO, William C. (BJ) Losch III, highlighted Live Oak's mission to treat every customer like the only customer.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.65%
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none
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Rhea-AI Summary
Live Oak Bancshares Announces Organizational Appointments and Leadership Changes, Appointing a New CFO and President. Neil L. Underwood Steps Down as President, William C. (BJ) Losch III Named President, and Walter J. Phifer Appointed as CFO. The Board Recognizes Underwood's Career Progression and Desire to Focus on Canapi Ventures. Phifer Brings 18 Years of Financial Industry Experience and Will Lead Live Oak's Financial Future.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.54%
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Rhea-AI Summary
Live Oak Bancshares reports Q3 2023 net income of $39.8 million, or $0.88 per diluted share. Total revenue increased by 17% to $127.3 million. Loan and lease production increased by 25% to $1.07 billion. Total deposits increased by 1% to $10 billion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.22%
Tags
earnings
Rhea-AI Summary
Live Oak Bancshares to report Q3 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.03%
Tags
earnings
Live Oak Bancshares Inc

NYSE:LOB

LOB Rankings

LOB Stock Data

1.86B
33.64M
24.69%
66.88%
2.14%
Commercial Banking
Finance and Insurance
Link
US
Wilmington

About LOB

member fdic. the live oak story we started live oak bank in 2007 to provide veterinary business loans to small, independent businesspeople looking to expand, remodel, refinance and/or acquire an existing practice. from the beginning, we took a personal approach and saw our clients not as numbers, but as real people facing real-life opportunities and challenges. we offered big bank expertise and experience without big bank attitudes. it worked - for us as well as our clients - and we expanded our veterinary funding programs to serve the needs of private pharmacies and dental offices. today, live oak has clients across america, but we still see each one as an individual entrepreneur who deserves our undivided attention. we're their bank and we take that responsibility very personally. with this philosophy, live oak is now one of the largest originators of small business loans with one of the strongest loan portfolios in the country. we have extensive experience lending to selected niche