Live Oak Bancshares, Inc.

Live Oak Bancshares, Inc. announced that Renato Derraik has resigned from his position as Chief Information & Digital Officer of Live Oak Banking Company. His resignation is effective November 6, 2026, as he intends to pursue other opportunities. The company filed a Form 8-K detailing this management change.

Live Oak Bancshares reported strong financial results for the second quarter and first half of 2026. Net income attributable to common shareholders for Q2 2026 increased 48.1% to $34.7 million, with basic EPS rising 47.1% to $0.75. The company also saw significant growth in its balance sheet, with total assets reaching $16.04 billion and total deposits growing to $14.55 billion as of June 30, 2026. Additionally, the company updated its allowance for credit losses estimation process and purchased renewable energy credits.

Live Oak Bancshares reported strong financial results for the second quarter ended June 30, 2026, with net income attributable to common shareholders rising to $34.7 million, or $0.74 per diluted common share. The company achieved significant growth in loan production, reaching $1.55 billion, and saw deposits increase by $712.5 million. Net interest income and net interest margin also showed healthy improvements, contributing to a substantial increase in pre-provision net revenue.

Live Oak Bancshares, Inc. reported strong second-quarter 2026 results, with net income attributable to common shareholders rising to $34.7 million, or $0.74 per diluted common share. The company achieved robust loan production of $1.55 billion and significant deposit growth of $712.5 million. Total assets expanded to $16.04 billion, reflecting strong overall performance and growth across its core business segments.

Live Oak Bancshares, Inc. announced it will release its second quarter 2026 financial results after U.S. financial markets close on Wednesday, July 22, 2026. Following the release, the company will host a conference call on Thursday, July 23, 2026, at 9:00 a.m. ET to discuss the results and business outlook. Details for accessing the call via telephone and webcast, along with analyst registration for Q&A, were provided.

Live Oak Bancshares, Inc. announced the appointment of Matthew S. Diffley as its Principal Accounting Officer (PAO) and Chief Accounting Officer (CAO). Mr. Diffley, 46, joined Live Oak Banking Company on June 29, 2026, and officially assumed the PAO role for the Company on July 1, 2026, replacing interim PAO Walter J. Phifer. In connection with his employment, Mr. Diffley is expected to receive a restricted stock unit award valued at $200,000, vesting over five years, and will be eligible for relocation expenses, employee benefits, and discretionary bonus programs.

Live Oak Bank announced the appointment of Matthew S. Diffley as its new Chief Accounting Officer. Diffley will be responsible for the bank's financial reporting, accounting policy, general ledger operations, and SOX compliance. He brings over two decades of experience in finance and accounting leadership from publicly traded banking institutions, including Seacoast Banking Corporation of Florida and JPMorganChase.

Live Oak Bancshares, Inc. announced that J. Wesley Sutherland has ceased to serve as Chief Accounting Officer, effective June 16, 2026. Walter J. Phifer, the current Chief Financial Officer, has assumed the role of Principal Accounting Officer on an interim basis while the company searches for a permanent successor. Mr. Sutherland will remain with the Bank as a Senior Advisor to assist with the transition until his retirement on or about September 30, 2026.

Live Oak Bank announced the first-year impact of its five-year, $1 million grant to The Forward Fund, a North Carolina-based pay-it-forward financing model for career training. In its inaugural year, the program issued $2.3 million in zero-percent interest loans to over 270 individuals. Loans in repayment have already generated an estimated $2.8 million in new annual earnings, demonstrating a significant return on investment in workforce development and economic mobility.

Live Oak Bancshares, Inc. held its 2026 Annual Meeting of Shareholders on May 19, 2026. Shareholders approved the 2026 Omnibus Stock Incentive Plan and the 2026 Employee Stock Purchase Plan. Additionally, ten directors were elected to the Board for one-year terms, and KPMG, LLP was ratified as the independent auditor for 2026. Shareholders also provided non-binding advisory approval for the compensation paid to the company's named executive officers.