Oregon Bancorp Announces Quarterly Earnings
Oregon Bancorp (OTCBB: ORBN) reported net income of $801,000 for Q2 2024, or $0.32 per common share. The company's quarterly return on average assets was 0.7% and return on average equity was 4.4%. The balance sheet expanded by $82.3 million during the quarter, largely due to increased investment in U.S. government securities. This strategy improved net income but led to a decline in net interest margin from 4.2% to 3.4%. The Board of Directors distributed a $0.20 per share quarterly dividend on July 15, 2024. CEO Ryan Dempster noted that economic data suggests a potential reduction in Federal Reserve interest rates later this year, which could lead to lower loan interest rates for borrowers.
Oregon Bancorp (OTCBB: ORBN) ha segnato un reddito netto di 801.000 dollari per il secondo trimestre del 2024, corrispondente a 0,32 dollari per azione ordinaria. Il ritorno sugli attivi medi è stato dello 0,7% e il ritorno sul capitale medio è stato del 4,4%. Il bilancio è aumentato di 82,3 milioni di dollari durante il trimestre, principalmente grazie a un maggiore investimento in titoli di stato statunitensi. Questa strategia ha migliorato il reddito netto, ma ha portato a una diminuzione del margine di interesse netto dal 4,2% al 3,4%. Il Consiglio di Amministrazione ha distribuito un dividendo trimestrale di 0,20 dollari per azione il 15 luglio 2024. Il CEO Ryan Dempster ha osservato che i dati economici suggeriscono una potenziale riduzione dei tassi di interesse della Federal Reserve entro la fine dell’anno, il che potrebbe portare a tassi di interesse sui prestiti più bassi per i mutuatari.
Oregon Bancorp (OTCBB: ORBN) reportó un ingreso neto de 801,000 dólares para el segundo trimestre de 2024, o 0.32 dólares por acción común. El retorno sobre activos promedio fue del 0.7% y el retorno sobre capital promedio fue del 4.4%. El balance general se expandió en 82.3 millones de dólares durante el trimestre, en gran parte debido al aumento en la inversión en valores del gobierno de EE. UU. Esta estrategia mejoró el ingreso neto pero llevó a una disminución en el margen de interés neto del 4.2% al 3.4%. La Junta Directiva distribuyó un dividendo trimestral de 0.20 dólares por acción el 15 de julio de 2024. El CEO Ryan Dempster destacó que los datos económicos sugieren una potencial reducción en las tasas de interés de la Reserva Federal más tarde este año, lo que podría resultar en tasas de interés más bajas para los prestatarios.
오리건 뱅콥(Oregon Bancorp, OTCBB: ORBN)은 2024년 2분기에 801,000달러의 순이익을 보고하였으며, 보통주당 0.32달러에 해당합니다. 회사의 분기 평균 자산 수익률은 0.7%였으며, 평균 자기자본 수익률은 4.4%였습니다. 2분기 동안 대차대조표는 8,230만 달러 증가하였으며, 이는 주로 미국 정부 채권에 대한 투자 증가 때문입니다. 이 전략은 순이익을 개선하였지만, 순이자 마진은 4.2%에서 3.4%로 감소했습니다. 이사회는 2024년 7월 15일에 주당 0.20달러의 분기 배당금을 분배했습니다. CEO 라이언 덴프스터는 경제 데이터가 올해 후반에 연방준비제도의 금리 인하 가능성을 시사하고 있으며, 이는 대출자들에게 더 낮은 대출 이자율로 이어질 수 있다고 언급했습니다.
Oregon Bancorp (OTCBB: ORBN) a rapporté un revenu net de 801 000 dollars pour le deuxième trimestre de 2024, soit 0,32 dollar par action ordinaire. Le rendement sur les actifs moyens s'élevait à 0,7 % et le rendement sur les capitaux propres moyens était de 4,4 %. Le bilan s'est élargi de 82,3 millions de dollars au cours du trimestre, principalement en raison d'une augmentation des investissements dans des titres du gouvernement américain. Cette stratégie a amélioré le revenu net mais a entraîné une diminution de la marge d'intérêt nette, passant de 4,2 % à 3,4 %. Le Conseil d'Administration a distribué un dividende trimestriel de 0,20 dollar par action le 15 juillet 2024. Le PDG Ryan Dempster a noté que les données économiques suggèrent une éventuelle réduction des taux d'intérêt de la Réserve fédérale plus tard cette année, ce qui pourrait conduire à des taux d'intérêt de prêt plus bas pour les emprunteurs.
Oregon Bancorp (OTCBB: ORBN) meldete einen Nettoertrag von 801.000 US-Dollar für das zweite Quartal 2024, das entspricht 0,32 US-Dollar pro Stammaktie. Die Rendite auf das durchschnittliche Vermögen lag bei 0,7% und die Rendite auf das durchschnittliche Eigenkapital bei 4,4%. Die Bilanz wuchs um 82,3 Millionen US-Dollar im Lauf des Quartals, hauptsächlich aufgrund eines erhöhten Investments in US-Staatsanleihen. Diese Strategie verbesserte den Nettoertrag, führte jedoch zu einem Rückgang der Nettozinsmarge von 4,2% auf 3,4%. Der Vorstand beschloss eine quartalsweise Dividende von 0,20 US-Dollar pro Aktie, die am 15. Juli 2024 ausgezahlt wurde. CEO Ryan Dempster stellte fest, dass wirtschaftliche Daten auf eine potenzielle Senkung der Zinssätze durch die Federal Reserve später in diesem Jahr hinweisen, was zu niedrigeren Kreditkonditionen für die Kreditnehmer führen könnte.
- Net income increased from $634,000 in Q1 2024 to $801,000 in Q2 2024
- Earnings per share rose from $0.26 in Q1 2024 to $0.32 in Q2 2024
- Balance sheet expanded by $82.3 million during the quarter
- Quarterly dividend of $0.20 per share distributed
- Net interest margin decreased from 4.2% to 3.4% during Q2 2024
- Net income for H1 2024 ($1,435,000) lower compared to H1 2023 ($2,365,000)
- Noninterest income decreased from $5,319,000 in Q2 2023 to $3,229,000 in Q2 2024
Second quarter 2024 net earnings of
Quarterly return on average assets of
The Company’s balance sheet expanded by
Ryan Dempster, President and CEO, commented, “Although the economy continues to remain stable, economic data related to employment and inflation is beginning to display some slowing, which has led to renewed speculation that the Federal Reserve may reduce interest rates later this year. This could lead to a welcome reduction in loan interest rates for borrowers.”
About Oregon Bancorp, Inc.
Oregon Bancorp, Inc. is the parent company of Willamette Valley Bank (Bank), a community bank headquartered in
| CONSOLIDATED BALANCE SHEETS (Unaudited) | |||||||||||
| (Amounts in thousands except per share data) | |||||||||||
| June 30, | March 31, | ||||||||||
| ASSETS | 2024 |
|
2023 |
|
2024 |
||||||
| Cash and short term investments | $ |
21,050 |
|
$ |
15,373 |
|
$ |
19,591 |
|
||
| Securities available-for-sale, at fair value |
|
100,643 |
|
|
30,075 |
|
|
32,516 |
|
||
| Loans available for sale, at fair value |
|
14,849 |
|
|
37,080 |
|
|
18,387 |
|
||
| Loans: | |||||||||||
| Real estate |
|
317,261 |
|
|
276,665 |
|
|
303,247 |
|
||
| Commercial |
|
6,524 |
|
|
6,109 |
|
|
6,634 |
|
||
| Other |
|
1,054 |
|
|
777 |
|
|
2,028 |
|
||
| Deferred fees and costs |
|
(751 |
) |
|
(625 |
) |
|
(781 |
) |
||
| Loan loss reserve |
|
(3,443 |
) |
|
(2,773 |
) |
|
(3,275 |
) |
||
| Total net loans |
|
320,645 |
|
|
280,153 |
|
|
307,853 |
|
||
| Property and other assets |
|
23,339 |
|
|
20,595 |
|
|
19,289 |
|
||
| Total assets | $ |
480,526 |
|
$ |
383,276 |
|
$ |
397,636 |
|
||
| LIABILITIES | |||||||||||
| Deposits: | |||||||||||
| Noninterest-bearing demand | $ |
30,866 |
|
$ |
32,484 |
|
$ |
32,503 |
|
||
| Interest-bearing demand |
|
77,994 |
|
|
92,033 |
|
|
78,089 |
|
||
| Savings and Money Market |
|
118,229 |
|
|
106,525 |
|
|
116,665 |
|
||
| Certificates of deposit |
|
84,099 |
|
|
62,705 |
|
|
85,219 |
|
||
| Total deposits |
|
311,188 |
|
|
293,747 |
|
|
312,476 |
|
||
| Borrowings |
|
88,250 |
|
|
5,000 |
|
|
4,000 |
|
||
| Other liabilities |
|
8,554 |
|
|
11,664 |
|
|
8,244 |
|
||
| Total liabilities |
|
407,992 |
|
|
310,411 |
|
|
324,720 |
|
||
| SHAREHOLDERS' EQUITY |
|
72,534 |
|
|
72,865 |
|
|
72,916 |
|
||
| Total liabilities and shareholders' equity | $ |
480,526 |
|
$ |
383,276 |
|
$ |
397,636 |
|
||
| Book value per common share | $ |
29.22 |
|
$ |
29.46 |
|
$ |
29.55 |
|
||
| CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited) | |||||||||||
| (Amounts in thousands except per share data) | |||||||||||
| Six Months Ending | Three Months Ending | ||||||||||
| June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 | ||||||||
| Interest income | $ |
11,774 |
$ |
9,581 |
$ |
6,402 |
$ |
4,788 |
|||
| Interest expense |
|
4,137 |
|
1,475 |
|
2,642 |
|
975 |
|||
| Net interest income |
|
7,637 |
|
8,106 |
|
3,760 |
|
3,813 |
|||
| Provision for loan losses |
|
288 |
|
112 |
|
169 |
|
112 |
|||
| Net interest income after provision |
|
7,349 |
|
7,994 |
|
3,591 |
|
3,701 |
|||
| Noninterest income |
|
6,239 |
|
9,674 |
|
3,229 |
|
5,319 |
|||
| Noninterest expense |
|
11,683 |
|
14,517 |
|
5,778 |
|
7,663 |
|||
| Net income before income taxes |
|
1,905 |
|
3,151 |
|
1,042 |
|
1,357 |
|||
| Provision for income taxes |
|
470 |
|
786 |
|
241 |
|
334 |
|||
| Net income after income taxes | $ |
1,435 |
$ |
2,365 |
$ |
801 |
$ |
1,023 |
|||
| Net income per common share, basic | $ |
0.58 |
$ |
0.96 |
$ |
0.32 |
$ |
0.41 |
|||
Forward Looking Statements
Certain statements in this release may be deemed “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 therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240719569902/en/
Ryan Dempster
Oregon Bancorp, Inc.
503-485-2222
bank@wvbk.com
Source: Oregon Bancorp, Inc.
FAQ
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