Welcome to our dedicated page for Oregon Pacific news (Ticker: ORPB), a resource for investors and traders seeking the latest updates and insights on Oregon Pacific stock.
Oregon Pacific Bank (ORPB) provides community-focused financial services across Oregon through personalized banking, trust management, and local economic initiatives. This news hub delivers verified updates for stakeholders tracking the institution's operational developments and regional impact.
Access timely press releases covering financial results, leadership updates, regulatory filings, and community reinvestment programs. Investors will find earnings announcements and strategic partnership details, while local businesses can monitor lending program expansions and economic development projects.
All content undergoes strict verification to ensure accuracy and relevance. The curated collection serves as a primary source for understanding ORPB's role in Pacific Northwest community banking. Bookmark this page for streamlined access to corporate communications and market-moving disclosures.
Oregon Pacific Bancorp (ORPB) reported strong financial results for Q1 2023, with net income of $2.4 million or $0.34 per diluted share, up from $1.4 million or $0.20 per diluted share in Q1 2022. The bank achieved a quarterly loan growth of $10.5 million, reflecting an 8.82% annualized growth rate, while deposits increased by $7.2 million, translating to a 4.26% annualized growth. The net interest margin stood at 3.87%, indicating improved earnings from interest. Notably, the bank's cost of funds rose to 0.51% from 0.21% in the previous quarter, highlighting increasing market pressures. Management emphasized the bank's focus on service and maintaining client relationships despite competitive yield pressures. The bank also adopted new credit loss accounting standards impacting its allowance for credit losses.
Oregon Pacific Bancorp (ORPB) reported financial results for Q4 2022, revealing a net income of $1.4 million or $0.20 per diluted share. Annual non-PPP loan growth reached $94.8 million (24.42%), and deposits grew by $64.2 million (10.38%). However, the bank faced a quarterly deposit contraction of $29.8 million (4.2%). A strategic security repositioning resulted in a pre-tax loss of $1.8 million but is forecasted to enhance future interest income by $479 thousand annually. Additionally, noninterest income decreased to $1.9 million, driven by lower other income. The yield on non-PPP loans improved to 4.70%, marking a robust financial performance despite challenges.
Oregon Pacific Bank has announced the hiring of a new commercial banking team for its Portland market expansion. This move marks a significant development for the $780 million community bank, which currently operates branches in Coos Bay, Florence, Eugene, Medford, and Roseburg. The new team consists of experienced bankers, led by Kyle Baisch as Portland Market President. The bank plans to establish a temporary office in the SW metro area and aims to provide a full suite of banking services following regulatory approval.
Oregon Pacific Bancorp (ORPB) announced its third-quarter financial results for the period ending September 30, 2022, reporting a net income of $2.3 million or $0.33 per diluted share, up from $2.0 million or $0.29 from the same quarter the previous year. The bank achieved a loan growth of $21.1 million and deposit growth of $70.0 million. The net interest margin stood at 3.54%. Noninterest income was $2.0 million, while expenses increased to $4.8 million due to salary adjustments and increased outside services.
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