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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.
The Board of Directors of Oregon Bancorp declared a quarterly dividend of $0.52 per share, payable on April 17, 2023, to shareholders of record as of April 3, 2023. Oregon Bancorp is the parent company of Willamette Valley Bank, a community bank headquartered in Salem, Oregon, with four full-service branches and 13 Home Loan Centers across Oregon, Washington, and Idaho. This dividend reflects the company's commitment to returning value to shareholders while maintaining its banking operations effectively.
Oregon Bancorp, Inc. (OTCBB: ORBN) reported fourth quarter 2022 net earnings of $1.3 million, equating to $0.52 per common share, a decline from $4.0 million in Q4 2021. The annual earnings totaled $6.7 million with a return on average assets of 1.2% and return on average equity of 6.9%. Total assets fell 4.9%, primarily due to a $22.8 million drop in deposits, although commercial loans increased by $3.4 million. The Board declared a $0.52 quarterly dividend on January 17, 2023. CEO Ryan Dempster noted that rising interest rates have affected mortgage financing demand, but net interest margins improved.