Live Oak Bancshares, Inc. Prices Depositary Share Offering

WILMINGTON, N.C., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or the “Company”) announced the pricing of an underwritten offering of 4,000,000 depositary shares, each representing a 1/40th ownership interest in a share of 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.

When, as and if declared by the board of directors of Live Oak, dividends will be payable on the Series B Preferred Stock from the date of issuance at a rate of 8.750% per annum, payable quarterly in arrears on March 15, June 15, September 15, and December 15 of each year, beginning on December 15, 2026. Live Oak may, at its option, redeem the Series B Preferred Stock on any dividend payment date on or after December 15, 2031, or following a regulatory capital treatment event as described in the prospectus supplement and accompanying prospectus relating to the offering, in each case at a redemption price equal to $1,000 per share of Series B Preferred Stock (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends to, but excluding, the redemption date. Live Oak intends to apply to list the depositary shares on the New York Stock Exchange under the symbol “LOB/PB.”