Oak Ridge Financial Services, Inc. Announces Fourth Quarter and Full Year 2023 Results and Quarterly Cash Dividend of $0.10 per share
OAK RIDGE FINCL SVCS INC (BKOR)
US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4160431
Company Research
Source: GlobeNewswire
OAK RIDGE, N.C., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the fourth quarter and full year of 2023, and a quarterly cash dividend of $0.10 per share. Fourth Quarter and Full Year 2023 Highlights Earnings per share of $2.10 for 2023, down $0.37, or 15.0%, from 2022; earnings per share of $0.54 for the three months ended December 31, 2023, down nine cents, or 14.3%, from the same period in 2022.Return on average common stockholders’ equity of 10.39% for 2023, compared to 12.95% for 2022; return on average common stockholders’ equity of 10.44% for the three months ended December 31, 2023, compared to 12.98% in 2022.Provision for credit losses for the year ended December 31, 2023, of $605,000 compared to recovery of credit losses of $41,000 in 2022; provision for credit losses for the three months ended December 31
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