Live Oak Bancshares, Inc. Closes Depositary Share Offering

WILMINGTON, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or the “Company”) announced the closing of its previously announced underwritten offering of 4,000,000 depositary shares, each representing a 1/40th interest in a share of its 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (the “Series B Preferred Stock”), with a liquidation preference of $25 per depositary share. As a result of the public offering, Live Oak received proceeds of approximately $96,250,000, net of estimated expenses and underwriting discounts and commissions.

Morgan Stanley & Co. LLC; Keefe, Bruyette & Woods, A Stifel Company; RBC Capital Markets, LLC; and UBS Investment Bank served as joint bookrunning managers for the offering.