LIVE OAK BANCSHARES, INC. (NASDAQ:LOB) Files An 8-K Regulation FD Disclosure

On May 9, 2017, Live Oak Bancshares, Inc. (the Company) announced
the execution of a transaction agreement to form a new joint
venture with First Data Corporation. A copy of the Company’s press
release announcing the transaction is filed as Exhibit 99.1 hereto
and incorporated by reference herein.

The consummation of the transaction is expected to result in a
one-time gain for the Company. The amount of this gain will be
computed as of the close date of the transaction, currently
expected to occur in the third quarter of 2017. The Company
estimates that this gain will be approximately $38 million, net of
tax. Under the terms of the transaction, First Data Corporation
will have a preference on the joint venture’s earnings from 2017
and 2018.

Also on May 9, 2017, the Company announced it will host a
conference call on Wednesday, May 10, 2017, at 9:00 a.m. EST. On
the conference call, senior management from the Company will review
the transaction and the Company’s business, plans and strategies.
A copy of the Company’s press release announcing the transaction
is filed as Exhibit 99.2 hereto and incorporated by reference
herein.

The information contained in Item 7.01 of this Current Report
(including Exhibits 99.1 and 99.2) shall not be deemed filed for
purposes of section 18 of the Securities Exchange Act of 1934, as
amended (the Exchange Act), or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.

Important Note Regarding Forward-Looking Statements

Statements in this Current Report on Form 8-K and made on the
conference call that are based on other than historical data or
that express the Companys plans or expectations regarding future
events or determinations are forward-looking within the meaning of
the Private Securities Litigation Reform Act of 1995. Statements
based on historical data are not intended and should not be
understood to indicate the Companys expectations regarding future
events. Forward-looking statements provide current expectations or
forecasts of future events or determinations. These forward-looking
statements are not guarantees of future performance or
determinations, nor should they be relied upon as representing
managements views as of any subsequent date. Forward-looking
statements involve significant risks and uncertainties, and actual
results may differ materially from those presented, either
expressed or implied, in this Report or on the conference call.
Factors that could cause actual results to differ materially from
those expressed in the forward-looking statements include the
possibility that regulatory and other approvals and conditions to
the transaction are not received or satisfied on a timely basis or
at all; the possibility that modifications to the terms of the
transaction may be required in order to obtain or satisfy such
approvals or conditions; the possibility that the joint venture
will not receive third-party consents necessary to fully realize
the anticipated benefits of the transaction; changes in the
anticipated timing for closing the transaction; reputational risks
and the reaction of customers and counterparties to the
transaction; changes in accounting principles, policies, and
guidelines applicable to bank holding companies and banking; the
risk that projected synergies and cost savings from the joint
venture may be less than expected or may not be realized within the
expected time frame; the risk that the businesses that are
contributed to the joint venture may not be integrated successfully
or such integration may be more difficult, time-consuming or costly
than expected; and the other factors discussed in the Companys
Annual Report on Form 10-K filed with the Securities and Exchange
Commission (SEC) and available at the SECs Internet site
(http://www.sec.gov). Except as required by law, the Company
specifically disclaims any obligation to update any factors or to
publicly announce the result of revisions to any of the
forward-looking statements included herein to reflect future events
or developments.