Welcome to our dedicated page for Oak Ridge Finl Svcs news (Ticker: BKOR), a resource for investors and traders seeking the latest updates and insights on Oak Ridge Finl Svcs stock.
Oak Ridge Financial Services, Inc. (BKOR) news centers on the performance and activities of Bank of Oak Ridge, the Triad’s employee-owned community bank. As the holding company for Bank of Oak Ridge, Oak Ridge uses its news releases to report unaudited quarterly and annual financial results, dividend declarations, capital actions, and leadership developments that matter to BKOR shareholders and banking clients.
Regular earnings announcements detail key metrics such as earnings per share, net interest income, net interest margin, efficiency ratio, loan receivable balances, deposit growth, nonperforming assets, and allowance for credit losses. Management commentary often explains the drivers of results, including loan growth funded by deposits and borrowings, changes in noninterest income such as gains on the sale of SBA loans, and trends in noninterest expenses like salaries, occupancy, equipment, data processing, and other operating costs.
BKOR news also highlights Oak Ridge’s SBA 7(a) lending activity, including rankings in North Carolina SBA loan production, decisions to sell or retain SBA loans, and updates on nonperforming SBA loans and related SBA guarantees. Capital management topics feature prominently, with disclosures about quarterly cash dividends, dividend increases, and the implementation and use of a stock repurchase program.
In addition, Oak Ridge issues releases on governance and leadership, such as board appointments, promotions within the executive team, and the evolution of roles like Chief Executive Officer, Chair of the Board, and Chief Financial Officer. Many news items reiterate the bank’s identity as an employee-owned community bank in the Triad, its FDIC membership and Equal Housing Lender status, and its focus on personalized service supported by modern digital banking tools.
Investors and observers can use the BKOR news feed to follow financial performance trends, dividend and repurchase activity, SBA lending developments, and leadership changes that shape Oak Ridge Financial Services, Inc. and Bank of Oak Ridge over time.
Oak Ridge Financial Services, Inc. (BKOR) reported Q3 2022 earnings of $0.59 per share, a decline of 21.3% compared to Q3 2021. Total loans reached $436.3 million, up 1.55% year-to-date, while deposits fell to $482.3 million, a 5.3% decrease. Despite these challenges, nonperforming assets improved significantly, down 70.8% to $871,000. A quarterly dividend of $0.08 per share is scheduled for December 5, 2022. The annualized net interest margin increased to 4.10%, reflecting a positive trend in net interest income, which rose slightly to $5.4 million.
Bank of Oak Ridge has launched a new Digital Investment Advisor platform, partnering with Detalus Advisors and Marstone. This innovative platform allows clients to create personalized investment portfolios based on individual goals and risk tolerance. The initiative aims to cater to both novice and experienced investors, enhancing the bank's digital offerings. As demand for online financial management services grows, this collaboration seeks to provide comprehensive banking and investment solutions to the Triad community. Investment services are not FDIC insured and may fluctuate in value.
Oak Ridge Financial Services (OTCPink: BKOR) reported Q2 2022 earnings of $0.63 per share, down 3.1% from the previous year. The company's annualized return on average equity was 13.52%, while tangible book value increased by 4.7% to $18.77 per share. Total loans rose to $432.4 million, a 0.64% increase. Nonperforming assets declined by 69.5% to $884,000. Despite an increase in noninterest expense by 22.7% due to higher salaries, noninterest income surged by 97.3%. A quarterly dividend of $0.08 per share will be paid on September 2, 2022.
Oak Ridge Financial Services, Inc. (OTCPink: BKOR) announces its inclusion in American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts for 2021. This recognition, based on a three-year average return on average equity (ROAE) through December 31, 2021, marks the sixth consecutive year for the company. Oak Ridge's three-year average ROAE was 11.76%, with a 2021 ROAE of 16.24%. CEO Tom Wayne expressed pride in this achievement, crediting the dedicated team for their success in the community.
Oak Ridge Financial Services (OTCPink: BKOR) announced the appointment of Denise McNeil to its Board of Directors. McNeil, a seasoned expert in financial institution technology, previously supported the bank's successful system upgrade in 2019. Board Chair Doug Boike expressed optimism about her joining, while CEO Tom Wayne emphasized her contributions to enhancing the bank's service excellence for clients and shareholders. McNeil brings over 27 years of experience, having partnered with numerous financial institutions across the U.S. to drive growth through technology.
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.
FAQ
What is the current stock price of Oak Ridge Finl Svcs (BKOR)?
What is the market cap of Oak Ridge Finl Svcs (BKOR)?
