Oregon Bancorp Announces Quarterly Earnings

First quarter 2026 net earnings of $0.4 million, or $0.17 per common share
Quarterly return on average assets of 0.4% and return on average equity of 2.3%

SALEM, Ore.--(BUSINESS WIRE)-- Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income of $431,000, or $0.17 per share, for the first quarter of 2026. The Company generated a return on average assets of 0.4% and a return on average equity of 2.3%, compared to net income of $826,000, or $0.33 per share, for the fourth quarter of 2025. The Company’s net interest margin improved to 4.0% for the first quarter, compared to 3.8% in the prior quarter.

Quarterly earnings were impacted by the wind‑down of the Mortgage Banking Department. Management expects this to be a short‑term headwind to earnings, with improvement anticipated in future quarters.

Total assets declined $6.4 million during the quarter, primarily due to a $10.0 million reduction in borrowings. Deposit balances increased $5.6 million, and loan balances increased $7.8 million during the quarter. Asset quality and capital levels remain strong, and the Board of Directors declared a $0.20 per share quarterly dividend, which was paid on April 16, 2026.

Ryan Dempster, President and CEO, commented, “During the quarter, we wound down the Mortgage Banking Department, which had a short‑term impact on earnings. We remain focused on commercial banking and serving the core needs of businesses and individuals throughout the Willamette Valley, while maintaining disciplined balance sheet management, expense control, and strong credit quality.”

About Oregon Bancorp, Inc.

Oregon Bancorp, Inc. is the parent company of Willamette Valley Bank (Bank), a community bank headquartered in Salem, Oregon. The Bank conducts commercial and retail banking activities at four full-service branch locations in Salem, Keizer, Silverton, and Albany, Oregon. For more information about Oregon Bancorp, Inc. or its subsidiary, Willamette Valley Bank, please call (503)485-2222 or visit our website at www.willamettevalleybank.com.

Forward Looking Statements

Certain statements in this release may be deemed “forward-looking statements”. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

CONSOLIDATED BALANCE SHEETS (Unaudited)
(Amounts in thousands except per share data)
									(Audited)
	March 31,								December 31,
ASSETS	2026				2025				2025
Cash and short term investments	$	30,900			$	37,139			$	32,414
Securities available-for-sale, at fair value		103,310				100,635				106,092
Loans available for sale, at fair value		1,282				9,286				10,244
Loans:
Real estate		284,353				293,804				278,246
Commercial		10,326				6,771				8,282
Other		233				1,205				533
Deferred fees and costs		(572	)			(606	)			(582	)
Loan loss reserve		(2,979	)			(3,312	)			(2,957	)
Total net loans		291,361				297,862				283,522
Property and other assets		19,016				19,604				20,027
Total assets	$	445,869			$	464,526			$	452,299
LIABILITIES
Deposits:
Noninterest-bearing demand	$	32,184			$	36,508			$	28,165
Interest-bearing demand		88,575				89,368				83,742
Savings and money market		139,409				117,580				136,781
Certificates of deposit		75,229				95,478				81,149
Total deposits		335,397				338,934				329,837
Borrowings		27,000				44,000				37,000
Other liabilities		7,426				7,646				8,958
Total liabilities		369,823				390,580				375,795
SHAREHOLDERS' EQUITY		76,046				73,946				76,504
Total liabilities and shareholders' equity	$	445,869			$	464,526			$	452,299
Book value per common share	$	30.53			$	29.64			$	30.69

CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited)
(Amounts in thousands except per share data)
	Three Months Ending
	March 31, 2026			March 31, 2025
Interest income	$	5,991		$	6,039
Interest expense		1,835			2,223
Net interest income		4,156			3,816
Provision for loan losses		22			69
Net interest income after provision		4,134			3,747
Noninterest income		1,021			2,161
Noninterest expense		4,585			5,198
Net income before income taxes		570			710
Provision for income taxes		139			190
Net income after income taxes	$	431		$	520
Net income per common share, basic	$	0.17		$	0.21

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420841475/en/

Ryan Dempster
Oregon Bancorp, Inc.
503-485-2222
bank@wvbk.com

Source: Oregon Bancorp, Inc.