Oregon Bancorp Announces Fourth Quarter Earnings

Fourth quarter 2022 net income of $1.3 million, or $0.52 per common share

Quarterly average return on assets 1.2%, average return on equity 6.9%

Annual net income of $6.7 million, or $2.75 per common share

Salem, Oregon, January 27, 2023–(BUSINESS WIRE)–Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reports fourth quarter net income of $1.3 million reported, yielding an annualized return on average assets. 1.2%, average return on equity he is 6.9%. Net income for the fourth quarter of 2021 was $4 million. Annual earnings totaled $6.7 million, representing a 1.6% return on average assets and a 9.3% return on average equity.

Total assets were down $20.4 million, or 4.9%, during the quarter. A decline in deposits of $22.8 million was the main reason for the decline, while commercial loan balances increased by $3.4 million. As the bank’s asset quality and capital continue to be good, the board has authorized him to distribute a quarterly dividend of $0.52 per share on January 17, 2023.

“The Federal Reserve’s decision to rapidly raise interest rates to curb inflation has had a negative impact on the number of borrowers seeking mortgage financing,” said Ryan Dempster, president and CEO. I commented. He added, “Mortgage bank earnings declined, but net interest margins improved due to a stronger interest rate environment.”

About Oregon Bancorp

Oregon Bancorp, Inc. is the parent company of Willamette Valley Bank (Bank), a community bank based in Salem, Oregon. The bank conducts commercial and retail banking operations through his four full-service branches in Salem, Kaiser, Silverton, and Albany, Oregon. The bank also operates 13 mortgage centers located in Oregon, Washington and Idaho. For more information about Oregon Bancorp, Inc. or its subsidiary Willamette Valley Bank, please call (503) 485-2222 or visit our website at www.willamettevalleybank.com.

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Forward-Looking Statements

Certain statements in this release may be considered “forward-looking statements.” Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections and should not be relied upon unduely. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update any of them in the light of new information or future events. involves inherent risks and uncertainties. Please note that a number of important factors could cause actual results to differ materially from those contained in forward-looking statements.

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contact address

Ryan Dempster
Oregon Bancorp Inc.
503-485-2222
bank@wvbk.com