Live Oak Bancshares, Inc. reported unaudited earnings results for the fourth quarter ended December 31, 2015. For the period, net interest income was $8,470,000 against $4,255,000 for the same period prior year. Net interest income after for provision losses was $7,003,000 against $2,873,000 for the same period prior year. Income before taxes was $9,238,000 against $3,859,000 for the same period prior year. Net income was $5,715,000 against $2,448,000 for the same period prior year. Net income attributable to the company was $5,716,000 against $2,448,000 for the same period prior year. Diluted earnings per share were $0.16 against $0.08 for the same period prior year. Book value per share was $5.84 against $3.21 for the same period prior year. Tangible book value per share was $5.84 against $3.20 for the same period prior year. Return on average assets was 2.18% compared to 1.46% a year ago. Return on average equity was 11.60% compared to 9.37% a year ago. Adjusted operating revenue was $32,837,000 against $20,555,000 for the same period prior year.

Net charge-offs were $205,000 in the fourth quarter of 2015, or 0.30% of average loans held for investment on an annualized basis compared to $243,000, or 0.40%, in the third quarter of 2015.