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Oregon Bancorp reports community-bank developments as the parent company of Willamette Valley Bank, a Salem, Oregon-based bank serving commercial and retail customers through branches in Salem, Keizer, Silverton and Albany. Recurring updates cover quarterly earnings, net interest margin, loan and deposit trends, borrowings, asset quality, capital levels and board-declared cash dividends. Company news also includes operating changes at Willamette Valley Bank, including the wind-down of residential mortgage lending and continued emphasis on commercial banking and core customer banking services in the Willamette Valley.
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Oregon Bancorp, Inc. (OTC-PINK: ORBN) announced a net income of $1.3 million, or $0.55 per share for Q1 2023, reflecting a decrease from $2.6 million in Q1 2022. The company reported a return on average assets of 1.4% and a return on average equity of 7.3%. Total assets decreased by $6.8 million (1.7%) during the quarter, primarily due to a $7.7 million drop in deposits. Despite this, commercial loan balances increased by $10.8 million. The company maintained strong asset quality and capital, allowing a quarterly dividend of $0.52 per share on April 17, 2023.