Wilmington-based Live Oak Bank realized an approximate $24 million pre-tax gain from the sale of its stake in Apiture, another Wilmington-headquartered fintech firm, according to Live Oak's third-quarter earnings report.

CSI, a Kentucky-based provider of end-to-end financial software and technology, announced Wednesday that it had completed its acquisition of Apiture, a company that offers digital banking solutions to U.S. financial institutions. According to a CSI news release, the Apiture Digital Banking Platform "transforms how banks and credit unions compete – delivering tools that help institutions win and retain account holders."

Nancy Langer, CEO of CSI, stated in the release, “Acquiring Apiture supercharges our mission to deliver solutions that empower financial institutions to compete and grow.”

Apiture’s API-first platform ​has integrations to more than 200 fintech partners, according to the release. Apiture started as a joint venture between Live Oak Bank and First Data Corp. Global fintech Fiserv later acquired First Data, and Apiture evolved into a standard corporate structure with shareholders, among which were Live Oak and Fiserv.

“This is a monumental day for all of us at Apiture,” said Chris Babcock, CEO of Apiture, in Wednesday's release on the closing of the sale to CSI. “Our team has been singularly focused on creating the next generation of digital banking solutions that empower financial institutions to deliver personalized experiences, strengthen customer relationships and drive sustainable growth. Joining forces with CSI allows us to scale and help even more institutions transform their digital capabilities.”

A leading lender of Small Business Administration-backed loans by dollar amount, Live Oak Bank’s holding company shared quarterly earnings Wednesday and elaborated on the results in a call Thursday, reporting $1.65 billion in new loans and $696 million in new deposits for the quarter that ended Sept. 30.

The company also reported Q3 2025 net income attributable to common shareholders of $25.6 million, or $0.55 per diluted common share.

According to the earnings report, Live Oak now holds $14.67 billion in assets. Total assets grew 6% for the third quarter and 16.3% compared to Q3 2024.

In a Thursday morning conference call, BJ Losch, president of Live Oak Bancshares, attributed the gains to seizing consumer opportunities and maintaining core banking health. “Lending and deposit are the priority,” he said. “We’re focused on outcomes that are more consistent and sustainable over time.”

Net interest income – the difference between interest earned and interest paid on loans and deposits – increased 5.7% over the previous quarter and 19.1% year over year.

The net interest margin, another indicator of profitability, increased five basis points quarter over quarter.

“Our net income performance is more resilient due to our strong growth,” CFO Walt J. Phifer said.

Revenue – combining net interest income and noninterest income – increased 1.6% quarter over quarter and 12.4% year over year, while noninterest expenses decreased.

“Adding checking and small-dollar SBA loan capabilities have been an important component,” Losch said. “In a little over 18 months, we’ve seen significant gains. One-third of new loan customers are opening a checking account each quarter.”

That, in turn, provides “better insights into customer cash flows,” he said.

Executives said the company’s balance sheet is strong, bolstered by a preferred stock offering that yielded $100 million during the quarter and the sale of its stake in Apiture.

“These strategic moves position Live Oak for continued growth and resilience as we enter the final stretch of 2025,” Live Oak chairman and CEO Chip Mahan said in a news release.

Phifer said Live Oak is firmly positioned to lead in an “extremely competitive market” following the Federal Reserve’s quarter-point rate cut in September.

“We expect more Fed cuts in the future, perhaps as early as next week,” Phifer said Thursday.