OAK RIDGE FINCL SVCS INC - BKOR STOCK NEWS

Oak Ridge Financial Services, Inc. (OTCPink: BKOR) announced its unaudited financial results for Q4 and full year 2022, reporting a net income of $6.7 million and earnings per share of $2.47, down 15.1% from 2021. The company will pay a quarterly cash dividend of $0.08 per share on March 3, 2023. Total loans increased by 1.5% year-over-year to $436 million, while deposits fell by 5.6% to $481 million. The return on average equity decreased to 12.95% from 15.70% in 2021. Despite challenges, nonperforming assets dropped to 0.13% of total assets, marking a 74.5% decline.

Oak Ridge Financial Services, Inc. (BKOR) reported Q3 2022 earnings of $0.59 per share, a decline of 21.3% compared to Q3 2021. Total loans reached $436.3 million, up 1.55% year-to-date, while deposits fell to $482.3 million, a 5.3% decrease. Despite these challenges, nonperforming assets improved significantly, down 70.8% to $871,000. A quarterly dividend of $0.08 per share is scheduled for December 5, 2022. The annualized net interest margin increased to 4.10%, reflecting a positive trend in net interest income, which rose slightly to $5.4 million.

Bank of Oak Ridge has launched a new Digital Investment Advisor platform, partnering with Detalus Advisors and Marstone. This innovative platform allows clients to create personalized investment portfolios based on individual goals and risk tolerance. The initiative aims to cater to both novice and experienced investors, enhancing the bank's digital offerings. As demand for online financial management services grows, this collaboration seeks to provide comprehensive banking and investment solutions to the Triad community. Investment services are not FDIC insured and may fluctuate in value.

Oak Ridge Financial Services (OTCPink: BKOR) reported Q2 2022 earnings of $0.63 per share, down 3.1% from the previous year. The company's annualized return on average equity was 13.52%, while tangible book value increased by 4.7% to $18.77 per share. Total loans rose to $432.4 million, a 0.64% increase. Nonperforming assets declined by 69.5% to $884,000. Despite an increase in noninterest expense by 22.7% due to higher salaries, noninterest income surged by 97.3%. A quarterly dividend of $0.08 per share will be paid on September 2, 2022.

Oak Ridge Financial Services, Inc. (OTCPink: BKOR) announces its inclusion in American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts for 2021. This recognition, based on a three-year average return on average equity (ROAE) through December 31, 2021, marks the sixth consecutive year for the company. Oak Ridge's three-year average ROAE was 11.76%, with a 2021 ROAE of 16.24%. CEO Tom Wayne expressed pride in this achievement, crediting the dedicated team for their success in the community.

Oak Ridge Financial Services (OTCPink: BKOR) announced the appointment of Denise McNeil to its Board of Directors. McNeil, a seasoned expert in financial institution technology, previously supported the bank's successful system upgrade in 2019. Board Chair Doug Boike expressed optimism about her joining, while CEO Tom Wayne emphasized her contributions to enhancing the bank's service excellence for clients and shareholders. McNeil brings over 27 years of experience, having partnered with numerous financial institutions across the U.S. to drive growth through technology.

Oak Ridge Financial Services, the holding company for Bank of Oak Ridge (OTCPink: BKOR), has appointed Jim Westmoreland to its Board of Directors. With over 30 years of experience, including his role as City Manager of Greensboro, Westmoreland's addition is seen as a strategic move to enhance the bank’s community impact. Both Doug Boike, Board Chair, and Tom Wayne, CEO, expressed confidence in Westmoreland's abilities to strengthen the bank's leadership and influence within the Triad region.

Oak Ridge Financial Services, Inc. (OTC Pink: BKOR) reported its unaudited financial results for Q1 2022, with earnings per share at $0.62, down 15 cents from last year. The quarterly cash dividend is increased to $0.08, payable on June 9, 2022. Key highlights include loans of $434.5 million (up 1.1%) and deposits of $541.6 million (up 6.4%). Nonperforming assets dropped 65.2% to $1.0 million. However, net interest income decreased to $5.4 million, with a 4.07% margin, down 19 basis points. The bank's CBLR remained at 10.2%.

Oak Ridge Financial Services (OTCPink: BKOR) reported strong financial results for 2021, with earnings per share rising 137% to $2.91. The fourth-quarter earnings reached $0.74, a 95% increase year-over-year. The company declared a quarterly cash dividend of $0.07 per share, payable on March 2, 2022. Key highlights include a return on equity of 15.70%, a reduction in loan loss provisions from $2.7 million to a negative $682,000, and a 19.4% increase in net interest income to $21 million. Noninterest income surged 30% to $4.1 million, driven by gains from SBA loans.