OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 OPERATING RESULTS [Yahoo! Finance]
OXFORD BANK CORP (OXBC)
Company Research
Source: Yahoo! Finance
Bank ("the Bank"), today announced operating results for the fourth quarter ended December 31, 2023 The Company's quarterly consolidated earnings for the three months ended December 31, 2023 , were $2.36 million , or per weighted average share, compared to $3.38 million , or per weighted average share for the same period one year ago. 2023 earnings, on a year-to-date basis, of $12.06 million increased compared to 2022 net income of $8.82 million for the same period. President and CEO, David Lamb , commented "We are very happy with our overall 2023 financial performance and the significant earnings growth year-over-year. Interest rate increases allowed us to expand our margins and leverage our strong and consistent core deposit portfolio as a funding source. We put some excess cash to work funding high quality loans across our business lines while still maintaining a strong liquidity position. Our commercial finance business saw controlled growth, and steady activity within the tradi
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