2020-10-21 16:32:31 LOB Live Oak Bancshares
10/21/20 10/2116:32 10/21/2016:32 | Live Oak Bancshares reports Q3 adjusted EPS 83c, consensus 27c"We understand what a challenging year this has been for everyone, and we are pleased to report that our performance during the third quarter of 2020 successfully displayed our ability to help American small business owners in a time of real need," said James S. Mahan, III, Chairman and CEO of Live Oak. "We greatly exceeded our previous quarterly maximum for loan and lease origination at nearly $1 billion, excluding the work we accomplished for the Paycheck Protection Program. Our core business has shown scale and efficiency thanks to previous investments in infrastructure and talent, and our position as a financial technology change leader was further validated with the increased valuations on several of our investments. We believe our way of business is proving itself to be a bold and successful way of providing next-generation banking experiences to American small business owners." |
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