Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Balance Sheets

	As of December 31,
	2019		2018
Assets
Cash and cash equivalents	$	13,585	$	14,780
Investment in subsidiaries		499,335		452,426
Other assets		21,182		28,094
Total assets	$	534,102	$	495,300

Liabilities and Shareholders' Equity
Borrowings	$	—	$	1,441
Other liabilities		1,716		299
Total liabilities		1,716		1,740

Shareholders' equity:
Common stock		340,397		328,113
Retained earnings		180,265		167,124
Accumulated other comprehensive income (loss)		11,724		(1,677	)
Total equity		532,386		493,560
Total liabilities & shareholders' equity	$	534,102	$	495,300

Condensed Income Statement

Statements of Income

	Years ended December 31,
	2019			2018			2017
Interest income	$	236		$	46		$	5
Interest expense		—			129			1,210
Net interest loss		236			(83	)		(1,205	)
Noninterest income:
Other noninterest income		140			562			2,114
Total noninterest income		140			562			2,114
Noninterest expense:
Salaries and employee benefits		12,408			10,117			10,531
Professional services expense		825			853			1,192
Renewable energy tax credit investment impairment		602			—			690
Impairment expense on goodwill and other intangibles, net		—			2,680			(4,350	)
Other expense		999			1,844			2,588
Total noninterest expense		14,834			15,494			10,651
Net loss before equity in undistributed income of subsidiaries		(14,458	)		(15,015	)		(9,742	)
Income tax benefit		(27	)		(3,658	)		(320	)
Net loss		(14,431	)		(11,357	)		(9,422	)
Equity in undistributed income of subsidiaries in excess of dividends from subsidiaries		32,465			62,805			109,921
Net income attributable to Live Oak Bancshares, Inc.	$	18,034		$	51,448		$	100,499

Condensed Cash Flow Statement

Statements of Cash Flows

	Years ended December 31,
	2019			2018			2017
Cash flows from operating activities
Net income	$	18,034		$	51,448		$	100,499
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed net income of subsidiaries in excess of dividends of subsidiaries		(32,465	)		(62,805	)		(109,921	)
Depreciation		—			199			1,188
Impairment expense on goodwill and other intangibles, net		—			2,680			(4,350	)
Deferred income tax		(790	)		(6,633	)		(5,376	)
Renewable energy tax credit investment impairment		602			—			690
Stock option based compensation expense		1,723			1,713			1,786
Restricted stock expense		10,025			7,463			5,717
Business combination contingent consideration fair value adjustments		—			(260	)		1,950
Net change in other assets		7,100			4,396			11,649
Net change in other liabilities		1,417			142			(820	)
Net cash provided by (used in) operating activities		5,646			(1,657	)		3,012
Cash flows from investing activities
Capital investment in subsidiaries		(1,109	)		(9,325	)		(55,240	)
Net change in advances to subsidiaries		—			—			640
Business combination, net of cash acquired		—			—			(7,696	)
Purchases of premises and equipment		—			(20	)		(4,864	)
Net cash used in investing activities		(1,109	)		(9,345	)		(67,160	)
Cash flows from financing activities
Proceeds from borrowings		—			—			25,000
Repayments of borrowings		(1,441	)		(25,123	)		(26,279	)
Stock option exercises		508			1,626			1,026
Employee stock purchase program		437			342			445
Withholding cash issued in lieu of restricted stock		(409	)		(756	)		(4,891	)
Sale of common stock, net		—			—			113,096
Shareholder dividend distributions		(4,827	)		(4,809	)		(3,776	)
Net cash (used in) provided by financing activities		(5,732	)		(28,720	)		104,621
Net change in cash and cash equivalents		(1,195	)		(39,722	)		40,473
Cash and cash equivalents at beginning of year		14,780			54,502			14,029
Cash and cash equivalents at end of year	$	13,585		$	14,780		$	54,502