Oregon Bancorp Announces Quarterly Earnings [Yahoo! Finance]
OREGON BANCORP INC (OR) (ORBN)
NASDAQ:AMEX Investor Relations:
opbc.com/investor-relations
Company Research
Source: Yahoo! Finance
SALEM, Ore., April 19, 2024 BUSINESS WIRE )--Oregon Bancorp, Inc. (OTCBB:ORBN) (the "Company"), parent company of Willamette Valley Bank, reported net income for the first quarter of $634,000 and $0.26 per common share. The Company's quarterly return on average assets and return on average equity were 0.6% and 3.5%, respectively. This compares to $547,000 in net income and $0.22 earnings per common share outstanding for the quarter ending December 31, 2023. The Company's net interest margin measured 4.2% for the first quarter, which is the same reading as the prior quarter. The Company's balance sheet remained relatively unchanged during the quarter with marginal adjustments to loans and deposits. Residential mortgage loan origination volume for the quarter improved to $71 million, which is 13% greater than the prior quarter. Bank asset quality and capital remain strong, and the Board of Directors distributed a $0.26 per share quarterly dividend on April 15, 2024. Ryan Dempster,
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