WILMINGTON, N.C. (AP) — WILMINGTON, N.C. (AP) — Live Oak Bancshares Inc. (LOB) on Wednesday reported first-quarter earnings of $30 million.
The Wilmington, North Carolina-based bank said it had earnings of 60 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The bank holding company posted revenue of $259.9 million in the period. Its revenue net of interest expense was $145.5 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $146 million.
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