The Bank Slate


Live Oak in N.C. set to benefit from Payrailz sale

Live Oak Bancshares in Wilmington, N.C., is set to benefit from the pending sale of Payrailz to Jack Henry & Associates. 

The $9.1 billion-asset Live Oak disclosed in a regulatory filing that it expects to report a $29 million pretax gain tied to its investment in Payrailz. The gain would be recorded when the acquisition closes. 

The announcement comes months after Live Oak said it would likely realize a $115 million pretax gain from its investment in Finxact, which agreed to be sold to Fiserv.

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