Live Oak Bancshares Inc 2025年季度报告

xQuarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period endedSeptember 30, 2025 or Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to ________.Commission file number:001-37497 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.YesxNoo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growthcompany. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the ExchangeAct. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesoNox APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of November14, 2025, there were45,857,617shares of the registrant’s voting common stock outstanding. EXPLANATORY NOTE This Form 10-Q includes information to present the effect of restatements to the Consolidated Financial Statements for the QuarterlyReports on Form 10-Q for the quarterly periods ended March 31, 2025 and June 30, 2025 (including all periods within the filings) (the“Prior Forms 10-Q”), to make corrections to the Consolidated Statements of Cash Flows. This information is included in the Notes toUnaudited Condensed Consolidated Financial Statements in Part I, Item 1, under the heading “Note 1. Basis of Presentation -Correction of Error.” The restatement of the financial statements in the Prior Forms 10-Q reflect the correction of an error for theclassification of cash flows between operating and investing activities associated with the proceeds received from the sale of loanparticipations and the related supplemental disclosures of non-cash operating, investing, and financing activities related to these loanswithin the Consolidated Statements of Cash Flows. The following sections in the Form 10-Q reflect this restatement: Part I - Item 1. Financial StatementsPart I - Item 4. Controls and ProceduresPart II - Item 1A. Risk Factors Live Oak Bancshares, Inc. Form 10-Q For the Quarterly Period Ended September30, 2025 TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)1Condensed Consolidated Balance Sheets as ofSeptember30, 2025 and December 31, 20241Condensed Consolidated Statements of Income for the Three andNineMonths EndedSeptember30, 2025and 20242Condensed Consolidated Statements of Comprehensive Income for the Three andNineMonths EndedSeptember30, 2025 and 20243Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three andNineMonthsEndedSeptember30, 2025 and 20244Condensed Consolidated Statements of Cash Flows for theNineMonthsEndedSeptember30, 2025 and 20246Notes to Unaudited Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations41Item 3.Quantitative and Qualitative Disclosures about Market Risk62Item 4.Controls and Procedures64 PART II. OTHER INFORMATION Item 1.Legal Proceedings65Item 1A.Risk Factors65Item 2.Unregistered Sales of Equity Securities and Use of Proceeds65Item 3.Defaults Upon Senior Securities65Item 4.Mine Safety Disclosures65Item 5.Other Information65Item 6.Exhibits66Index to Exhibits66Signatures67 PART I. FINANCIAL INFORMATION Live Oak Bancshares, Inc.Condensed Consolidated Balance SheetsAs of September30, 2025 (unaudited) and December31, 2024(Dollars in thousands) Live Oak Bancshares, Inc.Condensed Consolidated Statements of Comprehensive IncomeFor the three and nine months ended September30, 2025 and 2024 (unaudited)(Dollars in thousands) Live Oak Bancshares, Inc.Condensed Consolidated Statements of Cash FlowsFor the nine months ended September30, 2025 and 2024 (unaudited)(Dollars in thousands) Live Oak Bancshares, Inc.Condensed