Oak Ridge Finl Svcs Inc Stock Price, News & Analysis

Oak Ridge Financial Services, the holding company for Bank of Oak Ridge (OTCPink: BKOR), has appointed Jim Westmoreland to its Board of Directors. With over 30 years of experience, including his role as City Manager of Greensboro, Westmoreland's addition is seen as a strategic move to enhance the bank’s community impact. Both Doug Boike, Board Chair, and Tom Wayne, CEO, expressed confidence in Westmoreland's abilities to strengthen the bank's leadership and influence within the Triad region.

Oak Ridge Financial Services, Inc. (OTC Pink: BKOR) reported its unaudited financial results for Q1 2022, with earnings per share at $0.62, down 15 cents from last year. The quarterly cash dividend is increased to $0.08, payable on June 9, 2022. Key highlights include loans of $434.5 million (up 1.1%) and deposits of $541.6 million (up 6.4%). Nonperforming assets dropped 65.2% to $1.0 million. However, net interest income decreased to $5.4 million, with a 4.07% margin, down 19 basis points. The bank's CBLR remained at 10.2%.

Oak Ridge Financial Services (OTCPink: BKOR) reported strong financial results for 2021, with earnings per share rising 137% to $2.91. The fourth-quarter earnings reached $0.74, a 95% increase year-over-year. The company declared a quarterly cash dividend of $0.07 per share, payable on March 2, 2022. Key highlights include a return on equity of 15.70%, a reduction in loan loss provisions from $2.7 million to a negative $682,000, and a 19.4% increase in net interest income to $21 million. Noninterest income surged 30% to $4.1 million, driven by gains from SBA loans.

Oak Ridge Financial Services (OTCPink: BKOR) reported significant growth in its third-quarter financial results for 2021. Basic earnings per share surged by 127.3% to $0.75 compared to 2020. The company achieved an annualized return on average equity of 16.40%. Tangible book value per share increased by 14.4% to $18.72. Loans decreased by 2.02% to $441.5 million, but deposits rose by 6.9% to $487.2 million. The Bank’s community bank leverage ratio improved to 10.09%. Additionally, a quarterly cash dividend of $0.07 will be paid on December 1, 2021.

Oak Ridge Financial Services (OTCPink: BKOR) announced the appointment of Robert Pompey, Jr. to its Board of Directors. Pompey, with significant experience in finance and education, currently serves as Chancellor for Business and Finance at North Carolina A&T State University. His addition is expected to enhance insights into the company's operations. Doug Boike, Board Chair, and Tom Wayne, CEO, expressed their enthusiasm for Pompey's contributions towards ensuring the organization’s prosperity for clients and shareholders.

Oak Ridge Financial Services (OTCPink: BKOR) reported second-quarter 2021 earnings with an EPS of $0.65, a 44.4% increase from 2020. The return on equity rose to 14.71%, and tangible book value increased by 12.2% to $17.93. Total loans decreased by 0.73% to $447.3 million, while deposits grew by 8.7% to $495.2 million. The company retired $8 million in short-term borrowings. Noninterest income fell 30.3% year-over-year, mainly due to the absence of SBA loan sales. A cash dividend of $0.07 per share will be paid on September 3, 2021.

Oak Ridge Financial Services (OTCPink: BKOR) has achieved a significant milestone, ranking 90th on American Banker magazine's Top 200 Publicly Traded Community Banks and Thrifts list, up 20 spots from the previous year. This recognition is based on the company's three-year average return on average equity (ROAE) through December 31, 2020. This marks the fifth consecutive year the company has been included in this prestigious list, highlighting its strong performance and commitment to the communities it serves.

Oak Ridge Financial Services, Inc. (OTCPink: BKOR) reported strong first-quarter 2021 results. Earnings per share reached a record $0.77, a significant rise of $0.70 year-over-year. The return on average common stockholders’ equity soared to 18.45%, compared to 1.68% in Q1 2020. The tangible book value per share increased by 13.3% to $17.24. Total loans increased by 2.8% to $463.0 million, while deposits climbed 8.1% to $492.6 million. A quarterly cash dividend was raised to $0.07, payable on June 10, 2021. These results highlight the company’s commitment to enhancing stockholder value amidst ongoing economic challenges.

Bank of Oak Ridge has announced the opening of a new branch on March 22, 2021, located at 2513 Eastchester Drive, High Point, expanding its footprint to five branches in the Triad. This state-of-the-art facility promises a blend of personal service and innovative banking technologies, including Interactive Teller Machines for client convenience and safety during the COVID-19 pandemic. CEO Tom Wayne emphasized the bank's commitment to the community, stating that decision-makers live and work locally, ensuring a personalized banking experience.