Live Oak Bancshares, Inc. (NYSE:LOB) Q1 2024 Earnings Conference Call April 25, 2024 9:00 AM ET

Company Participants

Greg Seward - Chief Risk Officer and General Counsel
James S. Mahan - Chairman and CEO
Steve Smits - Chief Credit Officer
Walt Phifer - CFO
BJ Losch - President

Conference Call Participants

Alex Lau - JPMorgan
Brandon King - Truist
David Feaster - Raymond James

Operator

Good morning, ladies and gentlemen and welcome to the Q1 2024 Live Oak Bancshares Earning Call. At this time all lines are in a listen-only mode. Following the presentation we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Thursday, April 25, 2024.

I would now like to turn the conference over to Greg Seward, General Counsel and Chief Risk Officer. Please go ahead.

Greg Seward

Thank you, and good morning, everyone. Welcome to Live Oak's First Quarter 2024 Earnings Conference Call. We are webcasting live over the Internet, and this call is being recorded. To access the call over the Internet and review the presentation materials that we will reference on the call, please visit our website at investor.liveoakbank.com and go to the Events and Presentations tab for supporting materials.

Our first quarter earnings release is also available on our website. Before we get started, I’d like to caution you that we may make forward-looking statements during today's call that are subject to risks and uncertainties. Factors that may cause actual results to differ materially from our expectations are detailed in the materials accompanying this call and in our SEC filings. We do not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of today's call.

Information about any non-GAAP financial measures referenced, including reconciliation of those measures to GAAP measures, can also be found in our SEC filings and in the presentation materials.

I’ll now turn the call over to Chip Mahan, our Chairman and Chief Executive Officer.

James S. Mahan

Thanks, Greg. Good morning fellow shareholders, and welcome to our Q1 call. I'm going to kick things off this morning and discuss several areas noted on Slide 4. We will touch on first quarter loan originations and our pipeline of future loans to be generated. As always, we will present a credit quality update along with a view of increased operating leverage based on investments we have made. Then we will discuss growth drivers by way of adding new lending officers and a new way of underwriting small loans. Then we’ll wrap up with a few thoughts from our Annual Report as we look back these last 10 years.