Welcome to our dedicated page for Oak View Bankshares news (Ticker: OAKV), a resource for investors and traders seeking the latest updates and insights on Oak View Bankshares stock.
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, Inc. (OTC Pink:OAKV) reported strong financial results for the fourth quarter and year ended December 31, 2022. Net income surged 38.68% to $1.20 million, translating to earnings per share of $0.41, up from $0.29 year-over-year. For the full year, net income reached $3.06 million, a 23.71% increase, with earnings per share rising to $1.03 from $0.84. Total assets expanded to $497.89 million with total loans at $273.87 million. The company declared a $0.10 dividend per share, doubling the previous year’s payout. Return on average assets improved to 1.02%, while credit quality remained strong with no nonperforming loans. However, net interest margin declined slightly to 3.10%.
Oak View Bankshares (OTC PINK:OAKV) reported a net income of $580,081 for Q3 2022, down from $621,554 in Q3 2021. For the nine months ending September 30, 2022, net income increased to $1.9 million from $1.6 million in 2021. The bank's total assets climbed to $447.6 million, with total loans at $269.4 million. The net interest margin decreased to 3.17% from 3.28% year-over-year. A one-time loss of $227,033 was reported, but excluding this, earnings per share for Q3 2022 rose to $0.29. Regulatory capital ratios exceed well-capitalized thresholds.
Oak View Bankshares, Inc. (OTC Pink:OAKV) reported a net income of $674,977 for Q2 2022, a significant increase from $215,583 in Q2 2021. Basic earnings per share rose to $0.23 from $0.07 year-over-year. Total assets reached $398.5 million, up from $345.1 million at the end of 2021. Total loans increased to $257.6 million, and total deposits rose to $340.9 million. However, the net interest margin fell slightly to 3.13%. The provision for loan losses also increased significantly, reflecting broader economic concerns.
Oak View Bankshares, Inc. (OAKV) reported a net income of $596,779 for Q1 2022, down from $764,898 in Q1 2021. Earnings per share decreased to $0.20 from $0.26. The net interest margin fell to 3.12%, down from 3.35% in the previous quarter. Total assets rose to $379.7 million, while total loans decreased to $245.4 million. Total deposits grew to $321.8 million. The company maintained strong credit quality with no nonperforming loans. Recovery in loan loss provisions was $55,333, showing a stable risk profile despite ongoing market challenges.
Oak View Bankshares (OTC Pink: OAKV) announced the completion of a $14 million private placement of 4.0% subordinated notes due 2032.
The funds will be utilized to enhance bank capital ratios and support future growth strategies. The offering attracted significant interest from qualified institutional buyers.
CEO Michael A. Ewing expressed optimism about using this capital for organic growth and expansion, marking an exciting phase for the company.
Oak View Bankshares, Inc. (OAKV) reported a 48.17% increase in net income for Q4 2021, reaching $867,882 compared to $585,715 in Q4 2020. Annual net income rose 22.46% to $2.47 million. Earnings per share for the quarter were $0.29, up from $0.20 in 2020. Total assets grew to $345.10 million, and total loans increased to $251.20 million. The company declared an annual dividend of $0.05 per share, to be paid on February 7, 2022. Noninterest income showed mixed results, with debit card fee income rising but mortgage loan fees declining.
Oak View Bankshares has completed its reorganization, becoming the parent bank holding company of Oak View National Bank as of December 15, 2021. Each share of the Bank’s stock was exchanged for a corresponding share in the Company. CEO Michael Ewing highlighted that this move aims to enhance access to new capital and foster continued growth. The reorganization is expected to offer greater flexibility, funding sources, and better access to diverse capital markets. Shares will continue trading under the ticker symbol OAKV.
Oak View National Bank (OAKV) reported a net income of $621,554 for Q3 2021, an increase of 8.83% year-over-year. Basic and diluted earnings per share rose to $0.21. For the nine months ending September 30, 2021, net income was $1.60 million, up from $1.43 million in 2020. Total assets reached $327.72 million, while total loans grew to $246.50 million. The net interest margin was 3.28%, down from 3.43% in Q2 2021. Noninterest income increased by 12.89% quarter-over-quarter, driven by higher fee income. CEO Michael Ewing highlighted a record number of new accounts opened.
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