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Stock impact report

Oregon Pacific Bancorp Announces 2023 Earnings Results

OREGON PACIFIC BNCRP (ORPB) 
NASDAQ:AMEX Investor Relations: opbc.com/investor-relations
Company Research Source: Business Wire
FLORENCE, Ore.--(BUSINESS WIRE)--Oregon Pacific Bancorp (ORPB), the holding company of Oregon Pacific Bank, today reported financial results for the fourth quarter ended, and year ended, December 31, 2023.Highlights:Fourth quarter net income of $2.2 million; $0.31 per diluted shareQuarterly loan growth of $11.4 million or 2.18%Quarterly tax equivalent net interest margin of 3.64%Annual return on average assets of 1.22%Annual loan growth of $53.7 million or 11.11%Portland office grand opening November 1, 2023Net income for the quarter ended December 31, 2023, was $2.2 million, or $0.31 per diluted share compared to $2.3 million or $0.33 per diluted share for the quarter ended September 30, 2023. On an annual basis, the Bank recorded net income totaling $9.2 million, or $1.30 per diluted share compared to $7.1 million, or $1.01 per diluted share for the same period in 2022.“We are happy to report the Bank’s strong financial performance as 2023 comes to a close,” said Ron Green, Pres Show less Read more
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