WILMINGTON, N.C. (AP) — WILMINGTON, N.C. (AP) — Live Oak Bancshares Inc. (LOB) on Wednesday reported net income of $9.9 million in its fourth quarter.

The bank, based in Wilmington, North Carolina, said it had earnings of 22 cents per share.

The bank holding company posted revenue of $243.2 million in the period. Its revenue net of interest expense was $128.1 million, beating Street forecasts.

For the year, the company reported profit of $77.5 million, or $1.69 per share. Revenue was reported as $499.7 million.

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