Oregon Bancorp Announces Second Quarter Earnings

Second quarter 2025 net earnings of $0.7 million, or $0.29 per common share

Quarterly return on average assets of 0.6% and return on average equity of 3.9%

SALEM, Ore.--(BUSINESS WIRE)-- Oregon Bancorp, Inc. (OTCBB: ORBN) (“the Company”), parent company of Willamette Valley Bank, today announced net income of $719,000, or $0.29 per common share, for the second quarter of 2025. This compares to net income of $520,000, or $0.21 per share, for the quarter ended March 31, 2025.

The Company’s return on average assets and return on average equity for the second quarter were 0.6% and 3.9%, respectively. Net interest margin improved to 3.7%, compared to 3.5% in the previous quarter.

The balance sheet experienced a modest contraction of $5.1 million during the quarter, driven primarily by a decrease of $11.1 million in deposit balances. Despite this decline, deposit levels remained $16.6 million higher than at June 30, 2024. Residential mortgage loan volume increased 31%, rising from $48 million in the first quarter to $63 million in the second quarter. Asset quality and capital levels remain strong. The Company’s Board of Directors declared a quarterly dividend of $0.20 per share, which was paid on July 15, 2025.

“We remain focused on growing core relationships and see positive momentum as we move through the year,” said Ryan Dempster, President and CEO. “While the broader economic outlook remains uncertain, and speculation continues around potential Federal Reserve interest rate cuts, our team is well-positioned to navigate the evolving environment.”

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. The Bank also operates five Home Loan Centers located in Oregon and Idaho. 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)
	June 30,								March 31,
ASSETS		2025				2024				2025
Cash and short term investments	$	22,058			$	21,050			$	37,139
Securities available-for-sale, at fair value		102,996				100,643				100,635
Loans available for sale, at fair value		16,024				14,849				9,286
Loans:
Real estate		292,654				317,261				293,804
Commercial		8,119				6,524				6,771
Other		273				1,054				1,205
Deferred fees and costs		(604	)			(751	)			(606	)
Loan loss reserve		(3,191	)			(3,443	)			(3,312	)
Total net loans		297,251				320,645				297,862
Property and other assets		21,107				23,339				19,604
Total assets	$	459,436			$	480,526			$	464,526
LIABILITIES
Deposits:
Noninterest-bearing demand	$	31,272			$	30,866			$	36,508
Interest-bearing demand		87,692				77,994				89,368
Savings and money market		116,807				118,229				117,580
Certificates of deposit		92,100				84,099				95,478
Total deposits		327,871				311,188				338,934
Borrowings		48,000				88,250				44,000
Other liabilities		9,203				8,554				7,646
Total liabilities		385,074				407,992				390,580
SHAREHOLDERS' EQUITY		74,362				72,534				73,946
Total liabilities and shareholders' equity	$	459,436			$	480,526			$	464,526
Book value per common share	$	29.80			$	29.22			$	29.64

CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited)
(Amounts in thousands except per share data)
	Six Months Ending							Three Months Ending
	June 30, 2025				June 30, 2024			June 30, 2025				June 30, 2024
Interest income	$	12,191			$	11,774		$	6,152			$	6,402
Interest expense		4,335				4,137			2,112				2,642
Net interest income		7,856				7,637			4,040				3,760
Provision for loan losses		(52	)			288			(121	)			169
Net interest income after provision		7,908				7,349			4,161				3,591
Noninterest income		4,665				6,239			2,504				3,229
Noninterest expense		10,951				11,683			5,753				5,778
Net income before income taxes		1,622				1,905			912				1,042
Provision for income taxes		383				470			193				241
Net income after income taxes	$	1,239			$	1,435		$	719			$	801
Net income per common share, basic	$	0.50			$	0.58		$	0.29			$	0.32

 

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Ryan Dempster

Oregon Bancorp, Inc.

503-485-2222

bank@wvbk.com

Source: Oregon Bancorp, Inc.