Oregon Bancorp Declares Fourth Quarter Earnings

Fourth quarter 2022 web earnings of $1.3 million, or $0.52 per frequent share

Quarterly return on common property of 1.2% and return on common fairness of 6.9%

Annual web earnings of $6.7 million, or $2.75 per frequent share

SALEM, Ore., January 27, 2023–(BUSINESS WIRE)–Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Firm”), mum or dad firm of Willamette Valley Financial institution, reported web revenue for the fourth quarter totaled $1.3 million leading to an annualized return on common property of 1.2% and a return on common fairness of 6.9%. This compares to web revenue of $4.0 million from the fourth quarter of 2021. Annual earnings totaled $6.7 million which resulted in a return on common property of 1.6% and return on common fairness of 9.3%.

Whole property decreased $20.4 million, or 4.9%, throughout the quarter. Though a lower in deposits of $22.8 million was the first purpose for the decline, industrial mortgage balances elevated $3.4 million. Financial institution asset high quality and capital stay good which permitted the Board of Administrators to distribute a $0.52 per share quarterly dividend on January 17, 2023.

Ryan Dempster, President and CEO, commented, “The Federal Reserve’s selections to quickly enhance rates of interest to scale back inflation have negatively impacted the variety of debtors searching for mortgage financing.” He additional said, “Though we now have skilled a decline in mortgage banking income, the rising price setting has led to improved web curiosity margins.”

About Oregon Bancorp, Inc.

Oregon Bancorp, Inc. is the mum or dad firm of Willamette Valley Financial institution (Financial institution), a group financial institution headquartered in Salem, Oregon. The Financial institution conducts industrial and retail banking actions at 4 full-service department places in Salem, Keizer, Silverton, and Albany, Oregon. The Financial institution additionally operates 13 Dwelling Mortgage Facilities positioned in Oregon, Washington, and Idaho. For extra details about Oregon Bancorp, Inc. or its subsidiary, Willamette Valley Financial institution, please name (503)485-2222 or go to our web site at www.willamettevalleybank.com.

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Contacts

Ryan Dempster
Oregon Bancorp, Inc.
503-485-2222
[email protected]