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Oak View Bankshares Inc (OAKV) operates as a community-focused financial institution committed to regional economic growth through prudent banking services. This page serves as the definitive source for verified corporate announcements, financial disclosures, and operational updates.
Investors and stakeholders will find timely information on earnings reports, regulatory developments, and strategic initiatives. Our curated collection ensures transparent access to material events influencing the company’s position in the banking sector, including leadership changes and community partnership announcements.
Key updates include quarterly financial results, asset quality assessments, and compliance milestones. Bookmark this page to monitor OAKV’s ongoing commitment to financial stability and local economic engagement.
Oak View Bankshares (OTC PINK:OAKV) has successfully completed a private placement of 558,227 shares of common stock at $14.00 per share. The offering generated approximately $7.8 million in gross proceeds, which the company plans to utilize for general corporate purposes.
The transaction was facilitated by Performance Trust Capital Partners, as the exclusive financial advisor, with Williams Mullen serving as legal counsel to Oak View Bankshares.
Oak View Bankshares (OAKV) reported strong financial results for 2024, with net income reaching $6.10 million, a 44.72% increase from $4.21 million in 2023. The company's earnings per share grew to $2.07 from $1.43 year-over-year. The Board declared an annual dividend of $0.27 per share, payable on February 6, 2025.
Key performance metrics showed significant improvement, with return on average assets at 0.94% and return on average equity at 17.45%. Total assets increased to $694.53 million, up from $600.16 million in 2023. The bank maintained strong asset quality with minimal charged-off loans and robust regulatory capital ratios, including a total capital ratio of 16.56%. Total deposits grew to $588.77 million, while maintaining a healthy liquidity position of $505.31 million in available liquid assets.
Oak View Bankshares (OAKV) reported strong Q3 2024 performance with net income of $1.46 million, up 22.97% from Q3 2023. For the nine months ended September 30, 2024, net income reached $4.63 million, a 43.10% increase year-over-year. The bank showed solid growth across key metrics: total assets increased to $676.27 million, total loans reached $322.71 million, and deposits grew to $569.41 million. The net interest margin was 2.92% for Q3 2024, with strong liquidity of $503.50 million and maintaining excellent asset quality with an allowance for credit losses at 0.93% of outstanding loans.
Oak View Bankshares, Inc. (OTC Pink:OAKV) reported strong financial performance for Q2 2024. Net income increased by 76.89% to $1.83 million compared to Q2 2023. For the first half of 2024, net income rose by 54.79% to $3.17 million. Earnings per share for Q2 2024 were $0.62, up from $0.35 in Q2 2023.
Key highlights include:
- Return on average assets: 1.17%
- Return on average equity: 21.64%
- Total assets: $629.91 million
- Total loans: $317.57 million
- Total deposits: $527.46 million
The bank maintains strong regulatory capital and outstanding asset quality. On-balance sheet liquidity remains robust at $501.49 million as of June 30, 2024.
Oak View Bankshares, Inc. reported a strong first quarter performance with a 32.4% increase in net income, $1.3 million for Q1 2024 compared to $1.0 million for Q1 2023. Earnings per share rose to $0.45 from $0.34. The company emphasized sound risk management practices, boasting a 0.88% return on average assets and a 16.45% return on average equity. Total assets reached $624.0 million, loans stood at $305.7 million, and deposits at $498.0 million. Nonperforming loans were absent, liquidity was strong at $479.7 million, and regulatory capital ratios exceeded thresholds. Net interest margin decreased to 2.92%, while noninterest income and expenses increased slightly. Shareholders' equity reached $33.9 million with regulatory capital ratios surpassing the 'well capitalized' benchmarks.
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