Live Oak Bancshares: Q4 Earnings Snapshot
WILMINGTON, N.C. (AP) _ Live Oak Bancshares Inc. (LOB) on Wednesday reported fourth-quarter earnings of $1.8 million.
The bank, based in Wilmington, North Carolina, said it had earnings of 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The bank holding company posted revenue of $155.7 million in the period. Its revenue net of interest expense was $105 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $111.6 million.
For the year, the company reported profit of $176.2 million, or $3.92 per share. Revenue was reported as $565.5 million.