Live Oak Bancshares, Inc. (LOB) SEC Filings, Sep-Nov 2025

LOB disclosed a planned sale of 1,200 shares of its common stock under Rule 144. The shares are to be sold through Fidelity Brokerage Services LLC on the NYSE, with an aggregate market value of $36,241.82. The seller acquired these shares via a stock option granted on 11/19/2015 and paid cash to acquire the 1,200 shares on 11/19/2025. The notice also confirms the seller represents they are not aware of any undisclosed material adverse information about the issuer’s current or prospective operations.

Live Oak Bancshares, Inc. announced that its board of directors declared a cash dividend of $0.03 per share on its Voting Common Stock. The company also declared a cash dividend of $0.52344 per depositary share of its 8.375% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock. Both dividends are payable on December 15, 2025 to shareholders of record as of December 2, 2025, providing scheduled cash returns to common and preferred investors.

Live Oak Bancshares, Inc. filed its quarterly report for the period ended September 30, 2025 and restated earlier quarterly cash flow statements to correct how certain loan participation proceeds were classified between operating and investing activities, along with related non‑cash disclosures. The company reported total assets of $14,665,902 thousand as of September 30, 2025, up from $12,943,380 thousand at December 31, 2024, driven largely by loans and leases held for investment of $11,554,818 thousand. Total deposits were $13,290,723 thousand compared with $11,760,494 thousand at year-end, and cash and due from banks increased to $892,445 thousand from $608,800 thousand. As of November 14, 2025, there were 45,857,617 shares of voting common stock outstanding.

Live Oak Bancshares, Inc. filed an amended annual report to restate its Consolidated Statements of Cash Flows and related notes for 2024, 2023 and 2022 after identifying an error in how cash flows from sales of loan participations and related non‑cash items were classified between operating and investing activities. The amendment also updates risk factors, financial statements, controls and procedures, executive compensation disclosures, and exhibits, and includes new CEO/CFO certifications and auditor consents. Management discloses material weaknesses in internal control over financial reporting and highlights the potential impact of the restatement as a risk, while describing a small‑business‑focused, largely SBA and USDA guaranteed lending model operating nationally through a technology platform without traditional branches.

Live Oak Bancshares (LOB) filed a Form 12b-25, stating it cannot file its Q3 2025 Form 10-Q by the due date due to planned restatements of prior reports to correct cash flow classification errors.

The restatements are limited to the Statements of Cash Flows and do not affect income statements, balance sheets, capital ratios, or other key performance metrics. Management identified a material weakness in internal control over financial reporting related to cash flow classification. The company anticipates filing the amended reports and the Q3 2025 Form 10-Q on or about November 17, 2025.

Live Oak Bancshares reported it will restate its Consolidated Statements of Cash Flows and related notes in its FY2024 Form 10-K and the Q1 and Q2 2025 Form 10-Qs after identifying a classification error between operating and investing cash flows tied to loan participations. Management and the Audit Committee, in consultation with KPMG, determined prior cash flow statements and associated audit reports should no longer be relied upon, and amendments are expected on or about November 17, 2025.

The company stated the misclassification did not affect income statements, balance sheets, equity, cash balances, liquidity measures, loan totals or classifications, credit reserves, regulatory capital ratios, net interest income or margin, net income, returns, asset quality ratios, or other key metrics discussed with investors. Management concluded the error is quantitatively material and identified a material weakness in internal control over financial reporting for cash flow classification. KPMG’s report on internal control over financial reporting as of December 31, 2024 should no longer be relied upon. The company anticipates remediating the weakness by the 2025 Form 10-K.

Live Oak Bancshares (LOB) director reported a bona fide gift of 3,000 shares of voting common stock on 10/29/2025 (Code G). Following the transaction, the reporting person beneficially owns 15,677 common shares directly.

The filing also lists 4,000 depositary shares, each representing a 1/40th interest in the Company’s 8.375% Series A Preferred Stock with a $1,000 liquidation preference per preferred share ($25 per depositary share), and 2,946 restricted stock units tied to voting common stock that vest on May 1, 2026.

Live Oak Bancshares, Inc. furnished an 8-K announcing its financial results for the third quarter ended September 30, 2025. The company provided a press release as Exhibit 99.1, which is incorporated by reference and contains the detailed results.

The disclosure under Item 2.02 is designated as “furnished” and not deemed “filed” under the Exchange Act. The company’s securities listed include Voting Common Stock (LOB) and Depositary Shares for its 8.375% Series A Preferred (LOB/PA) on the NYSE.

Live Oak Bancshares insider transaction summary: Director Jeffrey W. Lunsford reported transactions dated 09/04/2025. He disposed of 10,750 shares of the company’s voting common stock and beneficial ownership following that disposal is reported as 10,750 fewer shares. On the same date he was granted 1,890 restricted stock units (RSUs), each representing the contingent right to receive one share of voting common stock. The RSUs were granted at a $0 conversion price and vest on May 1, 2026, when they will convert into voting common stock if vesting conditions are met. The Form 4 was signed by power of attorney on 09/08/2025.