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.
Willamette Valley Bank (OTCBB: ORBN) has appointed Ryan Allbritton as Senior Vice President and Chief Banking Officer. With extensive experience in banking and strong community ties in Salem, Allbritton aims to enhance the bank's presence in the Willamette Valley and beyond. Previously, he held significant roles in a national bank, including Regional President, and has been involved with various community organizations. His customer-centric approach aligns with the bank’s goals of providing personal financial services amidst increasing competition from larger banks.
The Board of Directors of Oregon Bancorp, Inc. (OTCBB: ORBN) declared a quarterly dividend of $0.26 per share, payable on April 15, 2021 to shareholders of record as of April 1, 2021. Oregon Bancorp is the parent company of Willamette Valley Bank, a community bank operating in Oregon with four full-service branches and 13 Home Loan Centers across Oregon, Washington, and Idaho.
Oregon Bancorp, Inc. (OTCBB: ORBN) has declared a special cash dividend of $3.50 per share, payable on March 15, 2021, to shareholders of record as of March 1, 2021. This marks the fifth annual special dividend, reflecting a significant 133% increase over last year's distribution. CEO Ryan Dempster noted the company's strong financial results amid COVID-19's challenges, citing record earnings and a robust capital position as factors enabling this substantial payout to shareholders.
Oregon Bancorp, Inc. (OTCBB: ORBN) reported a net income of $8.0 million for Q4 2020, up from $3.1 million in Q4 2019. Earnings per share increased to $3.37 from $1.32. Year-to-date net income rose to $28.3 million, marking a 146% increase compared to the previous year. Total assets grew to $395.9 million, up from $269.5 million. The company also raised its quarterly cash dividend from $0.11 to $0.26 per share.
Asset quality is solid with past due loans at 0.14% and non-performing loans at 0.38%.
The Board of Directors of Oregon Bancorp, Inc. (OTCBB: ORBN) has declared a quarterly dividend of $0.26 per share, marking a significant increase of 136% compared to the previous dividend. This dividend is scheduled for payment on January 15, 2021 to shareholders on record by December 31, 2020. This decision reflects the company's ongoing commitment to returning value to its shareholders.