Live Oak Bancshares, Inc. (LOB) Financial Statements (2024 and earlier)

Company Profile

Business Address 1741 TIBURON DRIVE
WILMINGTON, NC 28403
State of Incorp. NC
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments284,239191,953303,667134,902325,073298,271
Cash and cash equivalents284,239191,953303,667134,902325,073298,271
Financing receivable, accrued interest, after allowance for credit loss46,500  
Total current assets:330,739191,953303,667134,902325,073298,271
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization  4913
Operating lease, right-of-use asset 2,1182,2282,5222,427
Property, plant and equipment263,290240,196259,267279,099262,524178,790
Long-term investments and receivables110,05884,15077,928   
Long-term investments110,05884,15077,928   
Intangible assets, net (including goodwill)      4,785
Intangible assets, net (excluding goodwill)      4,785
Total noncurrent assets:375,466326,578339,726281,539262,524183,575
Other undisclosed assets9,149,2937,694,8627,228,9104,398,5293,082,8522,276,628
TOTAL ASSETS:9,855,4988,213,3937,872,3034,814,9703,670,4492,758,474
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt     1,441 
Total current liabilities:     1,441 
Noncurrent Liabilities
Other undisclosed liabilities9,044,4657,498,2607,304,4534,282,5843,175,4482,321,541
Total liabilities:9,044,4657,498,2607,304,4534,282,5843,176,8892,321,541
Equity
Equity, attributable to parent, including:811,033715,133567,850532,386165,447119,208
Accumulated other comprehensive income (loss)(92,318)1,94621,50711,724(1,677)(1,033)
Retained earnings572,497400,893235,724180,265167,124120,241
Other undisclosed equity, attributable to parent330,854312,294310,619340,397  
Other undisclosed equity     328,113317,725
Total equity:811,033715,133567,850532,386493,560436,933
TOTAL LIABILITIES AND EQUITY:9,855,4988,213,3937,872,3034,814,9703,670,4492,758,474

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues491,072473,245352,790260,514240,588214,215
Gain on disposition of assets for financial service operations46,599112,03264,38232,53475,170
Net investment income444,473361,213288,408227,980162,643103,472
Financial services revenue110,743
Cost of revenue(40,943)(15,210)(40,658)(19,573)(13,058)(15,731)
Cost of goods and services sold      (6,195)
Provision for loan, lease, and other losses(40,943)(15,210)(40,658)(19,573)(13,058)
Financial services costs(9,536)
Gross profit:450,129458,035312,132240,941227,530198,484
Operating expenses(86,518)(55,737)(34,421)(37,699)(42,716)(108,608)
Operating income:363,611402,298277,711203,242184,81489,876
Interest and debt expense(116,972)(64,428)(93,685)(87,898)(54,600)(25,438)
Income from continuing operations before equity method investments, income taxes:246,639337,870184,026115,344130,21464,438
Income (loss) from equity method investments144,250(1,716)(14,691)(7,889)  
Other undisclosed income (loss) from continuing operations before income taxes(180,565)(125,366)(121,946)(83,990)(84,168)33,816
Income from continuing operations before income taxes:210,324210,78847,38923,46546,04698,254
Income tax expense (benefit)(34,116)(43,793)12,154(5,431)5,4022,245
Income from continuing operations:176,208166,99559,54318,03451,448100,499
Income before gain (loss) on sale of properties:166,99559,54318,03451,448100,499
Net income available to common stockholders, diluted:176,208166,99559,54318,03451,448100,499

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:176,208166,99559,54318,03451,448100,499
Other comprehensive income (loss) (94,264)(19,561)9,78313,401(400)(381)
Other undisclosed comprehensive loss      
Comprehensive income (loss):81,944147,43469,32631,43551,048100,118
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income, net of tax, attributable to parent:81,944147,43469,32631,43551,048100,118

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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