Live Oak Q3 profit falls 30% to $24.3 million as credit provision rises
Live Oak Bancshares reported third quarter 2026 net income attributable to common shareholders of $24.3 million, or $0.52 per diluted share, down 30.1% from the second quarter. Total revenue rose 12.5% from the second quarter to $175.6 million, but the provision for credit losses more than doubled to $54.7 million, which shareholders should weigh against the revenue growth. The company will discuss its results and business outlook on a conference call on October 22, 2026, at 9:00 a.m. ET.
Key points
- Net income attributable to common shareholders was $24.3 million, or $0.52 per diluted share, versus $34.7 million, or $0.74, in Q2 2026 and $25.6 million, or $0.55, in Q3 2025.
- Total revenue was $175.6 million, up 12.5% from Q2 2026 and 23.4% from Q3 2025.
- Provision for credit losses was $54.7 million, up from $25.8 million in Q2 2026, including $17.0 million tied to the stressed distillery portfolio.
- Total assets reached $17.0 billion at September 30, 2026, and loan and lease production was $2.1 billion in the quarter.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 21, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.