Oregon Bancorp Announces Quarterly Earnings

First quarter 2025 net earnings of $0.5 million, or $0.21 per common share

Quarterly return on average assets of 0.5% and return on average equity of 3.0%

SALEM, Ore.--(BUSINESS WIRE)-- Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income for the first quarter of $520,000 and $0.21 per share. The Company’s quarterly return on average assets and return on average equity were 0.5% and 3.0%, respectively. This compares to $873,000 in net income and $0.35 per share for the quarter ending December 31, 2024. The Company’s net interest margin measured 3.5% for the first quarter, which is the same as the prior quarter.

The Company’s balance sheet decreased slightly by $5.5 million. Deposit balances, however, increased by $6.1 million while loan balances remained level with the end of the year. Residential mortgage loan volume for the quarter was $48 million. Bank asset quality and capital remain strong, and the Board of Directors distributed a $0.20 per share quarterly dividend on April 17, 2025.

Ryan Dempster, President and CEO, commented, “It has been an interesting start to the new year as we have seen large swings in the equity and bond markets due to some uncertainty regarding the direction of fiscal policy. Although residential and commercial loan demand was lighter during the quarter, we are pleased to see deposit growth in the area of lower costing checking and saving account balances.”

About Oregon Bancorp, Inc.

Oregon Bancorp, Inc. is the parent company of Willamette Valley Bank (Bank), a community bank headquartered in Salem, Oregon. The Bank conducts commercial and retail banking activities at four full-service branch locations in Salem, Keizer, Silverton, and Albany, Oregon. The Bank also operates five Home Loan Centers located in Oregon 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.

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.

CONSOLIDATED BALANCE SHEETS (Unaudited)
(Amounts in thousands except per share data)
									(Audited)
	March 31,								December 31,
ASSETS		2025				2024				2024
Cash and short term investments	$	37,139			$	19,591			$	40,684
Securities available-for-sale, at fair value		100,635				32,516				97,377
Loans available for sale, at fair value		9,286				18,387				11,407
Loans:
Real estate		293,804				303,247				294,345
Commercial		6,771				6,634				6,750
Other		1,205				2,028				532
Unearned income		(606	)			(781	)			(642	)
Loan loss reserve		(3,312	)			(3,275	)			(3,243	)
Total net loans		297,862				307,853				297,742
Property and other assets		19,604				19,289				22,814
Total assets	$	464,526			$	397,636			$	470,024
LIABILITIES
Deposits:
Noninterest-bearing demand	$	36,508			$	32,503			$	34,173
Interest-bearing demand		89,368				78,089				85,921
Savings and money market		117,580				116,665				116,261
Certificates of deposit		95,478				85,219				96,514
Total deposits		338,934				312,476				332,869
Borrowings		44,000				4,000				56,000
Other liabilities		7,646				8,244				7,676
Total Liabilities		390,580				324,720				396,545
SHAREHOLDER'S EQUITY		73,946				72,916				73,479
Total liabilities and shareholders' equity	$	464,526			$	397,636			$	470,024
Book value per common share	$	29.64			$	29.55			$	29.65

CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited)
(Amounts in thousands except per share data)
	Three Months Ending
	March 31, 2025				March 31, 2024
Interest income	$	6,039			$	5,372
Interest expense		2,223				1,495
Net interest income		3,816				3,877
Provision for loan losses		69				119
Net interest income after provision		3,747				3,758
Noninterest income		2,161				3,010
Noninterest expense		5,198				5,905
Net income before income taxes		710				863
Provision for income taxes		190				229
Net income after income taxes	$	520			$	634
Net income per common share, basic	$	0.21			$	0.26

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250418096102/en/

Ryan Dempster

Oregon Bancorp, Inc.

503-485-2222

bank@wvbk.com

Source: Oregon Bancorp, Inc.