WILMINGTON, N.C. (AP) — WILMINGTON, N.C. (AP) — Live Oak Bancshares Inc. (LOB) on Wednesday reported fourth-quarter net income of $16.2 million.
The bank, based in Wilmington, North Carolina, said it had earnings of 36 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The bank holding company posted revenue of $216.6 million in the period. Its revenue net of interest expense was $119.7 million, surpassing Street forecasts. Four analysts surveyed by Zacks expected $119.4 million.
For the year, the company reported profit of $73.9 million, or $1.64 per share. Revenue was reported as $457 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOB at https://www.zacks.com/ap/LOB