Oregon Bancorp Announces Special Dividend

Rhea-AI Summary

Oregon Bancorp, Inc. (OTCBB: ORBN) has declared a special cash dividend of $3.50 per share, payable on March 15, 2021, to shareholders of record as of March 1, 2021. This marks the fifth annual special dividend, reflecting a significant 133% increase over last year's distribution. CEO Ryan Dempster noted the company's strong financial results amid COVID-19's challenges, citing record earnings and a robust capital position as factors enabling this substantial payout to shareholders.

Positive

• Declared a special cash dividend of $3.50 per share.
• Represents a 133% increase over last year's dividend.
• Achieved record earnings during 2020.

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• None.

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 $3.50 per share payable on March 15, 2021 to shareholders of record as of March 1, 2021.

“We are proud of our financial success during 2020 despite the economic and operating challenges posed by the COVID-19 pandemic,” stated Ryan Dempster, President and Chief Executive Officer. “The Company’s record earnings and strong capital position allow for a significant capital distribution to our shareholders. This is our fifth annual special dividend and represents a 133% increase over last year’s dividend.”

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/20210219005095/en/

FAQ

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

Oregon Bancorp has declared a special cash dividend of $3.50 per share.

When will the special dividend for ORBN be paid?

The special dividend will be paid on March 15, 2021.

What date is the record date for the ORBN dividend?

The record date for the dividend is March 1, 2021.

How much was the increase in the special dividend from last year for ORBN?

The special dividend represents a 133% increase over last year's dividend.

What factors enabled Oregon Bancorp (ORBN) to declare a dividend?

Oregon Bancorp reported record earnings and a strong capital position during 2020.