Oregon Bancorp Announces Special Dividend

Rhea-AI Summary

Oregon Bancorp, Inc. (OTC-PINK:ORBN) has declared a special cash dividend of $2.00 per share, payable on March 14, 2022, for shareholders on record as of February 28, 2022. This marks the sixth consecutive annual special dividend, reflecting the company's successful financial performance in 2021. CEO Ryan Dempster emphasized that the bank's strong earnings and balance sheet enable it to return a significant portion of earnings to shareholders while maintaining sufficient capital for future growth.

Positive

• Declaration of a special cash dividend of $2.00 per share.
• Strong financial performance in 2021 indicated by the ability to pay dividends.
• No need for dilutive capital raises due to sufficient capital reserves.

Negative

• None.

SALEM, Ore.--(BUSINESS WIRE)-- Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, announced today that its Board of Directors declared a special cash dividend of $2.00 per share payable on March 14, 2022 to shareholders of record as of February 28, 2022.

“We are proud that our financial success in 2021 enables us the opportunity to return a sixth annual special dividend to our shareholders,” stated Ryan Dempster, President and Chief Executive Officer. “The strength of our earnings and balance sheet provides us the ability to distribute a significant portion of earnings while maintaining sufficient capital for future asset growth without dilutive capital raises.”

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 13 Home Loan 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.

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/20220222005221/en/

Ryan Dempster

Oregon Bancorp, Inc.

503-485-2222

Ryan@wvbk.com

Source: Oregon Bancorp, Inc.

FAQ

What is the dividend amount declared by Oregon Bancorp, Inc. (ORBN)?

Oregon Bancorp, Inc. has declared a special cash dividend of $2.00 per share.

When will the dividend be paid to shareholders of Oregon Bancorp (ORBN)?

The dividend will be payable on March 14, 2022.

What is the record date for the dividend for Oregon Bancorp's shareholders?

The record date for shareholders is February 28, 2022.

How many consecutive special dividends has Oregon Bancorp (ORBN) declared?

Oregon Bancorp has declared its sixth consecutive annual special dividend.

What does the special dividend declaration indicate about Oregon Bancorp's financial health?

The special dividend declaration indicates strong financial performance and sufficient capital to support future growth.