Bullish indicating open at $55-$60, IPO prices at $37
WILMINGTON, N.C. - Live Oak Bancshares, Inc. (NYSE: LOB), a $1.15 billion market cap financial institution and the parent company of Live Oak Bank, has announced the appointment of Patrick T. McHenry to its board of directors, effective May 21, 2025. According to InvestingPro data, the bank maintains a FAIR financial health score and has remained profitable over the last twelve months despite challenging market conditions. McHenry, a former U.S. Congressman and Chairman of the House Financial Services Committee, brings a wealth of experience in financial services, public policy, and technology to the financial institution known for its focus on small business banking.
During his 20 years in Congress, McHenry represented North Carolina’s 10th Congressional District and was noted for his work on legislation related to cryptocurrency, capital formation, artificial intelligence, fintech, data privacy, and corporate governance. His legislative leadership and expertise in these areas are expected to contribute significantly to Live Oak’s mission and strategic direction.
McHenry has expressed his admiration for Live Oak Bank’s commitment to supporting the capital needs of American entrepreneurs and its innovative, technology-driven culture. His background aligns with the bank’s approach, which could enhance Live Oak’s ongoing efforts to serve small businesses both in North Carolina and nationwide. While the stock has faced headwinds, declining 44% over the past six months, analysts maintain a hold rating with a consensus target suggesting potential upside. For detailed analysis and additional insights, investors can access comprehensive research through InvestingPro, which offers exclusive financial metrics and expert recommendations.
In addition to his legislative achievements, McHenry has been involved in various leadership roles, including serving as the Chief Deputy Whip and Speaker Pro Tempore of the House. He currently resides in Washington, D.C., advising on public policy and financial matters and holds a distinguished fellowship at Georgetown University’s Psaros Center for Financial Markets and Policy.
Live Oak Bancshares Chairman and CEO James S. (Chip) Mahan III has welcomed McHenry’s appointment, highlighting the value of his financial and policy expertise to the board’s leadership. The bank has demonstrated commitment to shareholder returns, maintaining dividend payments for 11 consecutive years, while focusing on sustainable growth and technological innovation.
The addition of McHenry to the board is part of Live Oak Bancshares’ broader strategy to partner with businesses and leverage service and technology to redefine banking. This information is based on a press release statement.
In other recent news, Live Oak Bancshares reported its Q1 2025 earnings, revealing earnings per share (EPS) of $0.21, which fell short of the projected $0.38. Revenue also missed expectations, coming in at $126.11 million compared to the anticipated $131.45 million. Despite these misses, the company achieved record loan originations of $1.4 billion, marking the largest first quarter in its history. Net interest income surpassed $100 million for the first time, indicating robust performance in a challenging small business environment. The company also reported a 5% increase in loan balances quarter-over-quarter and a 20% increase year-over-year. Additionally, Live Oak Bancshares launched Live Oak Express, a new initiative aimed at further innovation. Analysts from Piper Sandler and KBW engaged with the company during the earnings call, discussing various aspects of the company’s performance and strategy. The company continues to focus on loan and deposit growth while maintaining a cautious approach to credit management given the current economic uncertainties.
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