Live Oak Q1 profit triples to $27.9M, but new material weakness surfaces in loan accounting

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~1 min read

Key Changes

• high

  New material weakness disclosed in loan participation accounting controls, causing cash flow statement misclassifications between operating and investing activities. Prior loan review weakness appears remediated but replaced by different control deficiency.

  Controls & Procedures verify on EDGAR →
• high

  Net income surged 188% to $27.9M ($0.60/share) vs. $9.7M year-ago, driven by 19% net interest income growth and 31% lower credit loss provision despite charge-offs jumping 174% to $18.6M.

  MD&A: Financial Performance verify on EDGAR →
• high

  Unguaranteed exposure in nonperforming assets rose 15% to $128M even as total NPAs fell 9% to $519M, indicating credit quality improvement concentrated in government-guaranteed loans.

  MD&A: Asset Quality verify on EDGAR →