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LIVE OAK BANCSHARES , INC . REPORTS SECOND QUARTER 2021 RESULTS Wilmington , NC , July 21 , 2021 - Live Oak Bancshares , Inc. ( Nasdaq : LOB ) ( “ Live Oak " or " the Company " ) today reported second quarter 2021 net earnings available to common shareholders of $ 63.6 million , or $ 1.41 per diluted share . The second quarter of 2021 included a pretax gain of $ 44.1 million related to an investment in Greenlight Financial Technologies , Inc. ( " Greenlight " ) accounted for as an equity security . " The second quarter of 2021 showed strength across all of Live Oak's key metrics . Our loan originations exceeded $ 1.0 billion , core revenues continued a strong growth trend , and our efforts in financial technology lifted earnings and capital , " said Live Oak Chairman and CEO James S. ( Chip ) Mahan , III . " We strongly believe in our model and will continue to focus on financial technology while serving the small business communities that are the backbone of the American economy . Our teams have an unwavering dedication to small business owners and the quarter reflects our commitment to fueling their growth . " Second Quarter 2021 Key Measures ( Dollars in thousands , except per share data ) Net interest income and servicing revenues Net income LiveOak BANCSHARES Diluted earnings per share Non - GAAP net income ( 1 ) Non - GAAP diluted earnings per share ( 1 ) Loan and lease production : Loans and leases originated % Fully funded Total loans and leases Total assets Total deposits 2Q 2021 2Q 2020 $ $ 47,589 3,777 0.09 3,777 0.09 77,680 63,582 1.41 63,582 1.41 ( 1 ) See accompanying GAAP to Non - GAAP Reconciliation . 58.6 % $ Increase ( Decrease ) Dollars Percent $ 1,153,693 $ 2,175,055 $ ( 1,021,362 ) 89.8 % n / a $ 6,506,334 $ 5,626,624 $ 879,710 8,243,186 8,209,154 34,032 6,520,833 5,873,292 647,541 1 30,091 59,805 1.32 59,805 1.32 63 % $ 1,583 1,467 1,583 1,467 1Q 2021 76,384 39,427 0.88 39,340 0.88 ( 47 ) % $ 1,180,219 n / a 16 % $ 6,533,495 0 8,417,875 6,316,004 11 77.7 % Loans and Leases At June 30 , 2021 , the total loan and lease portfolio was $ 6.51 billion , 15.6 % above its level a year ago and 0.4 % below its level at March 31 , 2021. Compared to the first quarter of 2021 , loans and leases held for investment decreased $ 15.3 million , or 0.3 % , to $ 5.44 billion while loans held for sale decreased $ 11.8 million , or 1.1 % , to $ 1.06 billion . Average loans and leases were $ 6.58 billion during the second quarter of 2021 compared to $ 6.35 billion during the first quarter of 2021. Excluding PPP , the total loan and lease portfolio increased by $ 1.64 billion , or 41.7 % , compared the second quarter of 2020 and $ 490.6 million , or 9.6 % compared to the first quarter of 2021 .