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 Bancorp (ORPB), the holding company for Oregon Pacific Bank, issues detailed quarterly earnings releases and operational updates that form the core of its news flow. These disclosures cover net income, net interest margin, loan and deposit trends, asset quality metrics, and capital ratios, providing investors and analysts with insight into the performance of this community-focused commercial bank.
Company news also highlights developments in trust services and wealth management. Oregon Pacific Bank reports trust fee income and Oregon Pacific Wealth Management income as distinct noninterest revenue streams, and it publishes updates on trust assets under management and advisory assets under management. Leadership appointments, such as the creation of an Executive Vice President, Director of Trust & Wealth Management role, are described in news releases that explain how the bank organizes and oversees fiduciary and wealth management activities.
Another recurring theme in Oregon Pacific Bancorp’s news is its approach to small business lending and digital access. The bank announced Oregon Pacific Loan Solutions, an online application system for small business loans that allows eligible Oregon businesses and nonprofits to apply for lines of credit, term financing, and owner-occupied commercial real estate loans. This initiative is presented as a way to combine a digital portal with local banker support.
News items also touch on changes in product lines, such as the planned discontinuation of residential mortgage lending, and on recognition and industry involvement, including being named one of the 100 Best Companies to Work For in Oregon and executive participation on industry boards. Visitors to this page can review these releases to understand how management describes the bank’s strategy, community bank model, and financial performance over time.
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.
Oregon Pacific Bancorp (ORPB) reported a stable second quarter ended June 30, 2022, with net income of $1.9 million, or $0.27 per diluted share, unchanged from Q2 2021. The bank successfully processed final Paycheck Protection Program (PPP) forgiveness payments, bringing PPP loan balances to zero. Notable growth was seen in non-PPP loans, which increased by $28.1 million, and deposits grew by $6.3 million. The second quarter net interest margin stood at 3.27%, while classified assets decreased to a ratio of 6.68%.
Oregon Pacific Bancorp (ORPB) reported a net income of $1.4 million for Q1 2022, translating to $0.20 per diluted share, a decrease from $2.0 million ($0.28/share) in Q1 2021. Non-PPP loans grew by $19.2 million (20.08% annually) and deposits increased by $17.7 million (11.61% annually). However, PPP income dropped significantly to $205 thousand from $1.5 million a year prior. Noninterest income declined to $1.6 million, and noninterest expenses rose to $4.5 million, primarily due to higher salaries and benefits.
Oregon Pacific Bancorp (ORPB) reported fourth-quarter net income of $1.9 million, or $0.27 per diluted share, down from $2.0 million in Q4 2020. Annual non-PPP loan growth reached $76.3 million (24.47%), with deposits increasing by $132.3 million (27.21%). Annual trust assets under management grew by $40.2 million (24.97%). However, classified assets rose by $600 thousand due to loan downgrades in commercial construction. Noninterest expense increased to $4.3 million, driven by higher salaries and fraud-related losses. The bank anticipates ongoing staffing growth and new facility occupancy by Q2 2023.
Oregon Pacific Bancorp (ORPB) reported a strong third quarter for 2021, achieving a net income of $2.04 million or $0.29 per diluted share, up from $803 thousand or $0.11 per share year-over-year. Non-PPP loan growth totaled $25.8 million, reflecting a 21.30% year-to-date increase. The company issued $15 million in subordinated notes to enhance liquidity, raising its Tier 1 leverage to 9.70%. While credit metrics improved with classified assets down to $8.2 million, the effective yield on non-PPP loans decreased to 4.49%.
Oregon Pacific Bancorp (OTCM: ORPB) has successfully completed a private placement of $15 million in fixed-to-floating rate subordinated notes. The notes carry an initial interest rate of 3.375% per annum, maturing on September 30, 2031, with an option for redemption starting September 30, 2026. Proceeds are intended to bolster the capital position and support strategic growth opportunities. Oregon Pacific Bancorp serves counties in Oregon, providing various banking and financial services through Oregon Pacific Bank and its wealth management arm.
Oregon Pacific Bancorp (ORPB) reported strong second quarter 2021 results, posting a net income of $1.92 million, or $0.27 per diluted share, up from $830 thousand, or $0.12 per share, year-over-year. Quarterly deposit growth reached $24.2 million, a 16.73% increase, while non-PPP loan growth was $13.4 million, marking a 16.81% growth rate. Trust fees rose to $878 thousand, bolstered by new client onboarding. However, the bank's margin contracted to 3.09%, influenced by increased interest-bearing deposits. The bank plans to register with the SEC after surpassing $100 million in assets under management.
Oregon Pacific Bancorp (ORPB) reported a strong first quarter of 2021 with net income of $1.96 million and $0.28 per diluted share, a significant increase from last year’s $642 thousand or $0.09 per share. The bank achieved $46.2 million in gross PPP loan production and $99.0 million in deposit growth, showing an annualized growth rate of 83.20%. The net interest margin stood at 3.82%. The bank did not make a provision for loan losses due to improved credit metrics. However, management anticipates that some deposit growth may be temporary due to ongoing economic uncertainty.
Oregon Pacific Bank announces the retirement of Robert (Bob) Edstrom, EVP & Chief Credit Officer, effective June 25, 2021. Edstrom, who joined the bank in 2014, played a crucial role in the loan approval process and enhanced credit risk practices during a significant growth period from 2016 to 2020. James Atwood, the current SVP & Sr. Credit Administrator, will succeed Edstrom. Atwood brings over 18 years of experience in credit administration and a strong client focus, promising continuity in leadership and commitment to the bank's future.
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