Oregon Pacific Bancorp Announces Fourth Quarter 2024 Earnings Results
Oregon Pacific Bancorp (ORPB) reported Q4 2024 net income of $2.2 million, or $0.31 per diluted share, up from $1.8 million ($0.26 per share) in Q3 2024. The bank's net interest margin expanded to 3.66%, a 0.07% increase from Q3, while cost of funds decreased by 0.05% to 1.36%.
Period-end loans totaled $571.6 million, showing quarterly growth of $6.1 million. Annual loan growth reached $34.9 million (6.50%). Deposits stood at $676.6 million, with a quarterly contraction of $19 million, including $8 million in redeemed brokered time deposits. The bank reported classified assets reduction of $2.2 million but saw a small increase of $520,000 in nonperforming loans.
The bank announced plans to discontinue residential mortgage lending by early Q2 2025, citing reduced mortgage origination revenue and staffing challenges. Noninterest income grew by $117,000 to $2.2 million, while noninterest expense decreased by $32,000 to $6.1 million in Q4.
Oregon Pacific Bancorp (ORPB) ha riportato un reddito netto per il quarto trimestre del 2024 di 2,2 milioni di dollari, pari a 0,31 dollari per azione diluita, in aumento rispetto a 1,8 milioni di dollari (0,26 dollari per azione) nel terzo trimestre del 2024. Il margine di interesse netto della banca è aumentato a 3,66%, un incremento dello 0,07% rispetto al terzo trimestre, mentre il costo dei fondi è diminuito dello 0,05% a 1,36%.
I prestiti a fine periodo sono ammontati a 571,6 milioni di dollari, mostrando una crescita trimestrale di 6,1 milioni di dollari. La crescita annuale dei prestiti ha raggiunto 34,9 milioni di dollari (6,50%). I depositi si sono attestati a 676,6 milioni di dollari, con una contrazione trimestrale di 19 milioni di dollari, inclusi 8 milioni di dollari in depositi vincolati rivendicati. La banca ha riportato una riduzione delle attività classificate di 2,2 milioni di dollari, ma ha visto un piccolo aumento di 520.000 dollari nei prestiti non performanti.
La banca ha annunciato piani per interrompere il credito ipotecario residenziale entro l'inizio del secondo trimestre del 2025, citando una riduzione delle entrate da origination mutui e sfide nel personale. Il reddito non da interessi è aumentato di 117.000 dollari a 2,2 milioni di dollari, mentre la spesa non da interessi è diminuita di 32.000 dollari a 6,1 milioni di dollari nel quarto trimestre.
Oregon Pacific Bancorp (ORPB) reportó un ingreso neto de $2.2 millones para el cuarto trimestre de 2024, o $0.31 por acción diluida, un aumento respecto a $1.8 millones ($0.26 por acción) en el tercer trimestre de 2024. El margen de interés neto del banco se expandió a 3.66%, un incremento de 0.07% respecto al tercer trimestre, mientras que el costo de los fondos disminuyó en 0.05% a 1.36%.
Los préstamos al final del período totalizaron $571.6 millones, mostrando un crecimiento trimestral de $6.1 millones. El crecimiento anual de préstamos alcanzó $34.9 millones (6.50%). Los depósitos se situaron en $676.6 millones, con una contracción trimestral de $19 millones, incluyendo $8 millones en depósitos a plazo convertidos. El banco reportó una reducción de activos clasificados de $2.2 millones, pero vio un pequeño aumento de $520,000 en préstamos no rentables.
El banco anunció planes para descontinuar el otorgamiento de préstamos hipotecarios residenciales a principios del segundo trimestre de 2025, citando una reducción en los ingresos por originación de hipotecas y desafíos de personal. Los ingresos no por intereses crecieron en $117,000 a $2.2 millones, mientras que los gastos no por intereses disminuyeron en $32,000 a $6.1 millones en el cuarto trimestre.
오리건 퍼시픽 뱅코프 (ORPB)는 2024년 4분기 순이익을 220만 달러(희석주당 0.31달러)로 보고했으며, 이는 2024년 3분기 180만 달러(주당 0.26달러)에서 증가한 수치입니다. 은행의 순이자마진은 3.66%로 확대되었으며, 이는 3분기 대비 0.07% 증가한 것입니다. 자금 조달 비용은 0.05% 감소하여 1.36%에 이르고 있습니다.
분기 말 대출 총액은 5억 7160만 달러에 달하며, 분기별 성장률은 610만 달러입니다. 연간 대출 성장률은 3490만 달러(6.50%)에 도달했습니다. 예금은 6억 7660만 달러로, 분기별로 1900만 달러 축소되었으며, 이에는 800만 달러의 중개인 정기예금 반환이 포함됩니다. 은행은 분류된 자산이 220만 달러 감소했다고 보고했지만, 부실대출이 52만 달러 소폭 증가했다고 밝혔습니다.
은행은 주택 담보 대출을 2025년 2분기 초까지 중단할 계획을 발표하며, 담보 대출 수익 감소와 인력 문제를 이유로 들었습니다. 비이자 수익은 11만 7000달러 증가하여 220만 달러에 이르렀고, 비이자 비용은 3만 2000달러 감소하여 610만 달러로 줄였습니다.
Oregon Pacific Bancorp (ORPB) a déclaré un revenu net de 2,2 millions de dollars pour le quatrième trimestre 2024, soit 0,31 dollar par action diluée, en hausse par rapport à 1,8 million de dollars (0,26 dollar par action) au troisième trimestre 2024. La marge d'intérêt nette de la banque s'est étendue à 3,66%, avec une augmentation de 0,07% par rapport au troisième trimestre, tandis que le coût des fonds a diminué de 0,05% pour atteindre 1,36%.
Les prêts à fin de période s'élevaient à 571,6 millions de dollars, affichant une croissance trimestrielle de 6,1 millions de dollars. La croissance des prêts annuels a atteint 34,9 millions de dollars (6,50%). Les dépôts se sont élevés à 676,6 millions de dollars, avec une contraction trimestrielle de 19 millions de dollars, dont 8 millions de dollars de dépôts à terme annulés. La banque a signalé une réduction des actifs classés de 2,2 millions de dollars mais a constaté une légère augmentation de 520 000 dollars des prêts non performants.
La banque a annoncé des plans pour arrêter l'octroi de prêts hypothécaires résidentiels d'ici le début du deuxième trimestre 2025, citant une réduction des revenus d'origine hypothécaire et des défis d'effectifs. Le revenu non d'intérêts a augmenté de 117 000 dollars pour atteindre 2,2 millions de dollars, tandis que les dépenses non d'intérêts ont diminué de 32 000 dollars pour s'élever à 6,1 millions de dollars au quatrième trimestre.
Oregon Pacific Bancorp (ORPB) berichtete über ein Nettoergebnis von 2,2 Millionen Dollar im vierten Quartal 2024, was 0,31 Dollar proverwässerter Aktie entspricht, im Vergleich zu 1,8 Millionen Dollar (0,26 Dollar pro Aktie) im dritten Quartal 2024. Die Nettozinsspanne der Bank erweiterte sich auf 3,66%, was einen Anstieg von 0,07% gegenüber dem dritten Quartal darstellt, während die Kosten der Mittel um 0,05% auf 1,36% sanken.
Die Kredite zum Periodenende beliefen sich auf 571,6 Millionen Dollar, was einem vierteljährlichen Wachstum von 6,1 Millionen Dollar entspricht. Das jährliche Kreditwachstum erreichte 34,9 Millionen Dollar (6,50%). Die Einlagen standen bei 676,6 Millionen Dollar mit einem vierteljährlichen Rückgang von 19 Millionen Dollar, einschließlich 8 Millionen Dollar an eingelösten Vermittlerfestgeld. Die Bank meldete eine Reduzierung der eingestuften Vermögenswerte um 2,2 Millionen Dollar, sah jedoch einen kleinen Anstieg von 520.000 Dollar bei den nicht einbringlichen Krediten.
Die Bank kündigte Pläne an, die Wohnungsbaufinanzierung bis Anfang des zweiten Quartals 2025 einzustellen, und nannte sinkende Einnahmen aus Hypothekenorigination und Personalprobleme als Gründe. Die Nichtzinsgewinne stiegen um 117.000 Dollar auf 2,2 Millionen Dollar, während die Nichtzinsaufwendungen im vierten Quartal um 32.000 Dollar auf 6,1 Millionen Dollar sanken.
- Net income increased to $2.2 million from $1.8 million quarter-over-quarter
- Net interest margin expanded by 0.07% to 3.66%
- Cost of funds decreased by 0.05% to 1.36%
- Annual loan growth of $34.9 million (6.50%)
- Classified assets reduced by $2.2 million
- Trust fee income grew with $44.4 million increase in Assets Under Management YoY
- Quarterly deposit contraction of $19 million
- Increase of $520,000 in nonperforming loans
- Discontinuation of residential mortgage lending business
Highlights:
-
Fourth quarter net income of
$2.2 million $0.31 -
Quarterly tax equivalent net interest margin of
3.66% , expansion of0.07% over previous quarter. -
Quarterly cost of funds of
1.36% , decrease of0.05% from the previous quarter. -
Annual loan growth of
$34.9 million 6.50% . -
Annual deposit growth of
$16.2 million 2.45% . -
Named one of the 100 Best Companies to Work For in
Oregon for 2025 by Oregon Business Magazine.
During the quarter the bank’s net interest margin expanded to
During the fourth quarter of 2024, the bank experienced a reduction in classified assets of
Period-end deposits totaled
Noninterest income totaled
During the quarter the bank announced the planned discontinuation of residential mortgage lending. In recent periods, this source of noninterest income has decreased significantly due to a reduction in mortgage refinance activity. The bank historically originated brokered mortgages through third-party lenders, in addition to non-conforming portfolio mortgages, primarily for business clients. This decision occurred due to two factors: a reduction in mortgage origination revenue, coupled with difficulty finding and retaining mortgage lenders and processors. The bank does not anticipate this change to have significant impacts on overall profitability. There will be a reduction in mortgage revenue, which will be roughly offset by systems and personnel savings. The bank stopped acceptance of new mortgage applications in December, with the intention of full elimination of mortgage lending once the existing pipeline was complete, which is estimated in early second quarter 2025.
During the fourth quarter 2024 noninterest expense totaled
Forward-Looking Statement Safe Harbor
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “estimates,” “intends,” “plans,” “goals,” “believes” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” The forward-looking statements made represent Oregon Pacific Bank’s current estimates, projections, expectations, plans or forecasts of its future results and revenues, including but not limited to statements about performance, loan or deposit growth, loan prepayments, investment purchases, investment yields, strategic focus, capital position, liquidity, credit quality, special asset liquidation, noninterest income, noninterest expense and credit quality trends. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Oregon Pacific Bank’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risks. Oregon Pacific Bancorp undertakes no obligation to publicly revise or update any forward-looking statement to reflect the impact of events or circumstances that arise after the date of this release. This statement is included for the express purpose of invoking the PSLRA’s safe harbor provisions.
| CONSOLIDATED BALANCE SHEETS | ||||||||||||
| Unaudited (dollars in thousands) | ||||||||||||
| December 31, | September 30, | December 31, | ||||||||||
2024 |
2024 |
2023 |
||||||||||
| ASSETS | ||||||||||||
| Cash and due from banks | $ |
9,521 |
|
$ |
12,437 |
|
$ |
8,106 |
|
|||
| Interest bearing deposits |
|
10,921 |
|
|
25,874 |
|
|
6,246 |
|
|||
| Securities |
|
155,258 |
|
|
163,275 |
|
|
177,599 |
|
|||
| Loans, net of deferred fees and costs |
|
571,565 |
|
|
565,492 |
|
|
536,662 |
|
|||
| Allowance for credit losses |
|
(7,400 |
) |
|
(7,400 |
) |
|
(6,975 |
) |
|||
| Premises and equipment, net |
|
13,279 |
|
|
13,444 |
|
|
13,470 |
|
|||
| Bank owned life insurance |
|
9,142 |
|
|
9,071 |
|
|
8,866 |
|
|||
| Deferred tax asset |
|
5,398 |
|
|
4,754 |
|
|
5,758 |
|
|||
| Other assets |
|
8,764 |
|
|
8,279 |
|
|
11,254 |
|
|||
| Total assets | $ |
776,448 |
|
$ |
795,226 |
|
$ |
760,986 |
|
|||
| LIABILITIES | ||||||||||||
| Deposits | ||||||||||||
| Demand - non-interest bearing | $ |
141,719 |
|
$ |
156,296 |
|
$ |
155,693 |
|
|||
| Demand - interest bearing |
|
277,932 |
|
|
278,563 |
|
|
272,968 |
|
|||
| Money market |
|
135,255 |
|
|
136,984 |
|
|
129,543 |
|
|||
| Savings |
|
66,194 |
|
|
65,456 |
|
|
66,254 |
|
|||
| Certificates of deposit |
|
55,517 |
|
|
58,289 |
|
|
35,991 |
|
|||
| Total deposits |
|
676,617 |
|
|
695,588 |
|
|
660,449 |
|
|||
| FHLB borrowings |
|
7,500 |
|
|
7,500 |
|
|
17,000 |
|
|||
| Junior subordinated debenture |
|
4,124 |
|
|
4,124 |
|
|
4,124 |
|
|||
| Subordinated debenture |
|
14,827 |
|
|
14,802 |
|
|
14,727 |
|
|||
| Other liabilities |
|
8,090 |
|
|
8,612 |
|
|
8,304 |
|
|||
| Total liabilities |
|
711,158 |
|
|
730,626 |
|
|
704,604 |
|
|||
| STOCKHOLDERS' EQUITY | ||||||||||||
| Common stock |
|
21,612 |
|
|
21,491 |
|
|
21,291 |
|
|||
| Retained earnings |
|
51,603 |
|
|
49,385 |
|
|
44,083 |
|
|||
| Accumulated other comprehensive income, net of tax |
|
(7,925 |
) |
|
(6,276 |
) |
|
(8,992 |
) |
|||
| Total stockholders' equity |
|
65,290 |
|
|
64,600 |
|
|
56,382 |
|
|||
| Total liabilities & stockholders' equity | $ |
776,448 |
|
$ |
795,226 |
|
$ |
760,986 |
|
|||
| CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||||||
| Unaudited (dollars in thousands, except per share data) | ||||||||||||||||||||
THREE MONTHS ENDED |
|
|
TWELVE MONTHS ENDED |
|||||||||||||||||
December 31, |
|
September 30, |
|
December 31, |
|
|
December 31, |
|
December 31, |
|||||||||||
2024 |
|
2024 |
|
2023 |
|
|
2024 |
|
2023 |
|||||||||||
| INTEREST INCOME | ||||||||||||||||||||
| Loans | $ |
7,941 |
|
$ |
7,746 |
$ |
6,871 |
|
$ |
30,378 |
|
$ |
25,531 |
|
||||||
| Securities |
|
1,376 |
|
|
1,477 |
|
1,608 |
|
|
5,906 |
|
|
6,504 |
|
||||||
| Other interest income |
|
282 |
|
|
314 |
|
172 |
|
|
1,018 |
|
|
1,263 |
|
||||||
| Total interest income |
|
9,599 |
|
|
9,537 |
|
8,651 |
|
|
37,302 |
|
|
33,298 |
|
||||||
| INTEREST EXPENSE | ||||||||||||||||||||
| Deposits |
|
2,357 |
|
|
2,452 |
|
1,677 |
|
|
9,023 |
|
|
5,331 |
|
||||||
| Borrowed funds |
|
318 |
|
|
319 |
|
379 |
|
|
1,344 |
|
|
1,066 |
|
||||||
| Total interest expense |
|
2,675 |
|
|
2,771 |
|
2,056 |
|
|
10,367 |
|
|
6,397 |
|
||||||
| NET INTEREST INCOME |
|
6,924 |
|
|
6,766 |
|
6,595 |
|
|
26,935 |
|
|
26,901 |
|
||||||
| Provision for credit losses on loans |
|
- |
|
|
150 |
|
80 |
|
|
331 |
|
|
150 |
|
||||||
| Provision (credit) for unfunded commitments |
|
(30 |
) |
|
35 |
|
(150 |
) |
|
(25 |
) |
|
(380 |
) |
||||||
| Net interest income after provision (credit) for credit losses |
|
6,954 |
|
|
6,581 |
|
6,665 |
|
|
26,629 |
|
|
27,131 |
|
||||||
| NONINTEREST INCOME | ||||||||||||||||||||
| Trust fee income |
|
1,135 |
|
|
1,030 |
|
944 |
|
|
4,001 |
|
|
3,619 |
|
||||||
| Service charges |
|
378 |
|
|
371 |
|
348 |
|
|
1,457 |
|
|
1,374 |
|
||||||
| Mortgage loan sales |
|
72 |
|
|
39 |
|
56 |
|
|
204 |
|
|
147 |
|
||||||
| Merchant card services |
|
125 |
|
|
157 |
|
129 |
|
|
519 |
|
|
515 |
|
||||||
| Oregon Pacific Wealth Management income |
|
349 |
|
|
336 |
|
274 |
|
|
1,301 |
|
|
1,095 |
|
||||||
| Other income |
|
96 |
|
|
105 |
|
106 |
|
|
457 |
|
|
405 |
|
||||||
| Total noninterest income |
|
2,155 |
|
|
2,038 |
|
1,857 |
|
|
7,939 |
|
|
7,155 |
|
||||||
| NONINTEREST EXPENSE | ||||||||||||||||||||
| Salaries and employee benefits |
|
3,418 |
|
|
3,651 |
|
3,218 |
|
|
14,337 |
|
|
12,594 |
|
||||||
| Outside services |
|
787 |
|
|
669 |
|
631 |
|
|
2,814 |
|
|
2,449 |
|
||||||
| Occupancy & equipment |
|
485 |
|
|
511 |
|
540 |
|
|
1,985 |
|
|
1,895 |
|
||||||
| Trust expense |
|
724 |
|
|
615 |
|
542 |
|
|
2,589 |
|
|
2,102 |
|
||||||
| Loan and collection, OREO expense |
|
16 |
|
|
21 |
|
16 |
|
|
70 |
|
|
76 |
|
||||||
| Advertising |
|
89 |
|
|
88 |
|
77 |
|
|
328 |
|
|
417 |
|
||||||
| Supplies and postage |
|
76 |
|
|
75 |
|
98 |
|
|
299 |
|
|
363 |
|
||||||
| Other operating expenses |
|
552 |
|
|
549 |
|
561 |
|
|
2,201 |
|
|
2,119 |
|
||||||
| Total noninterest expense |
|
6,147 |
|
|
6,179 |
|
5,683 |
|
|
24,623 |
|
|
22,015 |
|
||||||
| Income before taxes |
|
2,962 |
|
|
2,440 |
|
2,839 |
|
|
9,945 |
|
|
12,271 |
|
||||||
| Provision for income taxes |
|
744 |
|
|
593 |
|
614 |
|
|
2,424 |
|
|
3,039 |
|
||||||
| NET INCOME | $ |
2,218 |
|
$ |
1,847 |
$ |
2,225 |
|
$ |
7,521 |
|
$ |
9,232 |
|
||||||
| Quarterly Highlights | |||||||||||||||||||
| 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | 4th Quarter | |||||||||||||||
2024 |
2024 |
2024 |
2024 |
2023 |
|||||||||||||||
| Earnings | |||||||||||||||||||
| Interest income | $ |
9,599 |
|
$ |
9,537 |
|
$ |
9,287 |
|
$ |
8,880 |
|
$ |
8,651 |
|
||||
| Interest expense |
|
2,675 |
|
|
2,771 |
|
|
2,549 |
|
|
2,371 |
|
|
2,056 |
|
||||
| Net interest income | $ |
6,924 |
|
$ |
6,766 |
|
$ |
6,738 |
|
$ |
6,509 |
|
$ |
6,595 |
|
||||
| Provision for credit losses on loans |
|
- |
|
|
150 |
|
|
141 |
|
|
40 |
|
|
80 |
|
||||
| Provision (credit) for unfunded commitments |
|
(30 |
) |
|
35 |
|
|
10 |
|
|
(40 |
) |
|
(150 |
) |
||||
| Noninterest income |
|
2,155 |
|
|
2,038 |
|
|
1,960 |
|
|
1,789 |
|
|
1,857 |
|
||||
| Noninterest expense |
|
6,147 |
|
|
6,179 |
|
|
6,086 |
|
|
6,216 |
|
|
5,683 |
|
||||
| Provision for income taxes |
|
744 |
|
|
593 |
|
|
595 |
|
|
492 |
|
|
614 |
|
||||
| Net income | $ |
2,218 |
|
$ |
1,847 |
|
$ |
1,866 |
|
$ |
1,590 |
|
$ |
2,225 |
|
||||
| Average shares outstanding |
|
7,136,389 |
|
|
7,134,259 |
|
|
7,135,227 |
|
|
7,115,125 |
|
|
7,094,180 |
|
||||
| Average diluted shares outstanding |
|
7,154,126 |
|
|
7,153,663 |
|
|
7,154,631 |
|
|
7,128,148 |
|
|
7,100,680 |
|
||||
| Period end shares outstanding |
|
7,138,259 |
|
|
7,134,259 |
|
|
7,135,227 |
|
|
7,135,615 |
|
|
7,094,180 |
|
||||
| Period end diluted shares outstanding |
|
7,155,996 |
|
|
7,153,663 |
|
|
7,154,631 |
|
|
7,155,019 |
|
|
7,100,680 |
|
||||
| Earnings per share | $ |
0.31 |
|
$ |
0.26 |
|
$ |
0.26 |
|
$ |
0.22 |
|
$ |
0.31 |
|
||||
| Diluted earnings per share | $ |
0.31 |
|
$ |
0.26 |
|
$ |
0.26 |
|
$ |
0.22 |
|
$ |
0.31 |
|
||||
| Performance Ratios | |||||||||||||||||||
| Return on average assets |
|
1.12 |
% |
|
0.93 |
% |
|
0.96 |
% |
|
0.83 |
% |
|
1.17 |
% |
||||
| Return on average equity |
|
14.01 |
% |
|
12.12 |
% |
|
13.01 |
% |
|
11.43 |
% |
|
17.45 |
% |
||||
| Net interest margin - tax equivalent |
|
3.66 |
% |
|
3.59 |
% |
|
3.65 |
% |
|
3.59 |
% |
|
3.64 |
% |
||||
| Yield on loans |
|
5.55 |
% |
|
5.47 |
% |
|
5.43 |
% |
|
5.30 |
% |
|
5.15 |
% |
||||
| Yield on securities |
|
3.31 |
% |
|
3.48 |
% |
|
3.62 |
% |
|
3.54 |
% |
|
3.53 |
% |
||||
| Cost of deposits |
|
1.36 |
% |
|
1.41 |
% |
|
1.30 |
% |
|
1.20 |
% |
|
1.00 |
% |
||||
| Cost of interest-bearing liabilities |
|
1.89 |
% |
|
1.97 |
% |
|
1.83 |
% |
|
1.74 |
% |
|
1.52 |
% |
||||
| Efficiency ratio |
|
67.71 |
% |
|
70.20 |
% |
|
70.00 |
% |
|
74.91 |
% |
|
67.25 |
% |
||||
| Full-time equivalent employees |
|
145 |
|
|
144 |
|
|
143 |
|
|
142 |
|
|
134 |
|
||||
| Capital | |||||||||||||||||||
| Tier 1 capital | $ |
89,133 |
|
$ |
87,101 |
|
$ |
85,416 |
|
$ |
83,699 |
|
$ |
82,278 |
|
||||
| Leverage ratio |
|
11.19 |
% |
|
10.96 |
% |
|
10.82 |
% |
|
10.78 |
% |
|
10.70 |
% |
||||
| Common equity tier 1 ratio |
|
14.86 |
% |
|
14.65 |
% |
|
14.36 |
% |
|
14.33 |
% |
|
14.28 |
% |
||||
| Tier 1 risk based ratio |
|
14.86 |
% |
|
14.65 |
% |
|
14.36 |
% |
|
14.33 |
% |
|
14.28 |
% |
||||
| Total risk based ratio |
|
16.11 |
% |
|
15.90 |
% |
|
15.61 |
% |
|
15.58 |
% |
|
15.53 |
% |
||||
| Book value per share | $ |
9.12 |
|
$ |
9.05 |
|
$ |
8.39 |
|
$ |
8.13 |
|
$ |
7.95 |
|
||||
| Quarterly Highlights | |||||||||||||||||||
4th Quarter |
|
3rd Quarter |
|
2nd Quarter |
|
1st Quarter |
|
4th Quarter |
|||||||||||
2024 |
|
2024 |
|
2024 |
|
2024 |
|
2023 |
|||||||||||
| Asset quality | |||||||||||||||||||
| Allowance for credit losses (ACL) | $ |
7,400 |
|
$ |
7,400 |
|
$ |
7,250 |
|
$ |
7,018 |
|
$ |
6,975 |
|
||||
| Nonperforming loans (NPLs) | $ |
798 |
|
$ |
278 |
|
$ |
275 |
|
$ |
113 |
|
$ |
443 |
|
||||
| Nonperforming assets (NPAs) | $ |
798 |
|
$ |
278 |
|
$ |
275 |
|
$ |
113 |
|
$ |
443 |
|
||||
| Classified Assets (1) | $ |
8,132 |
|
$ |
10,363 |
|
$ |
11,778 |
|
$ |
9,668 |
|
$ |
9,186 |
|
||||
| Net loan charge offs (recoveries) | $ |
- |
|
$ |
- |
|
$ |
(91 |
) |
$ |
(3 |
) |
$ |
(3 |
) |
||||
| ACL as a percentage of net loans |
|
1.29 |
% |
|
1.31 |
% |
|
1.29 |
% |
|
1.27 |
% |
|
1.30 |
% |
||||
| ACL as a percentage of NPLs |
|
927.32 |
% |
|
2661.87 |
% |
|
2636.36 |
% |
|
6210.62 |
% |
|
1574.49 |
% |
||||
| Net charge offs (recoveries) to average loans |
|
0.00 |
% |
|
0.00 |
% |
|
-0.02 |
% |
|
0.00 |
% |
|
0.00 |
% |
||||
| Net NPLs as a percentage of total loans |
|
0.14 |
% |
|
0.05 |
% |
|
0.05 |
% |
|
0.02 |
% |
|
0.08 |
% |
||||
| Nonperforming assets as a percentage of total assets |
|
0.10 |
% |
|
0.03 |
% |
|
0.04 |
% |
|
0.01 |
% |
|
0.06 |
% |
||||
| Classified Asset Ratio (2) |
|
8.42 |
% |
|
10.97 |
% |
|
12.63 |
% |
|
10.66 |
% |
|
10.29 |
% |
||||
| Past due as a percentage of total loans |
|
0.06 |
% |
|
0.24 |
% |
|
0.19 |
% |
|
0.29 |
% |
|
0.15 |
% |
||||
| Off-balance sheet figures | |||||||||||||||||||
| Unused credit commitments | $ |
98,616 |
|
$ |
99,229 |
|
$ |
97,763 |
|
$ |
99,498 |
|
$ |
105,900 |
|
||||
| Trust assets under management (AUM) | $ |
271,046 |
|
$ |
267,061 |
|
$ |
254,380 |
|
$ |
242,222 |
|
$ |
226,695 |
|
||||
| Oregon Pacific Wealth Management AUM | $ |
165,045 |
|
$ |
167,025 |
|
$ |
159,201 |
|
$ |
153,228 |
|
$ |
147,159 |
|
||||
| End of period balances | |||||||||||||||||||
| Total securities | $ |
155,258 |
|
$ |
163,275 |
|
$ |
162,483 |
|
$ |
170,740 |
|
$ |
177,599 |
|
||||
| Total short term deposits | $ |
10,921 |
|
$ |
25,874 |
|
$ |
10,559 |
|
$ |
25,851 |
|
$ |
6,246 |
|
||||
| Total loans net of allowance | $ |
564,165 |
|
$ |
558,092 |
|
$ |
555,752 |
|
$ |
543,927 |
|
$ |
529,687 |
|
||||
| Total earning assets | $ |
739,677 |
|
$ |
756,571 |
|
$ |
737,936 |
|
$ |
749,463 |
|
$ |
722,855 |
|
||||
| Total assets | $ |
776,448 |
|
$ |
795,226 |
|
$ |
771,842 |
|
$ |
787,435 |
|
$ |
760,986 |
|
||||
| Total noninterest bearing deposits | $ |
141,719 |
|
$ |
156,296 |
|
$ |
154,226 |
|
$ |
155,038 |
|
$ |
155,693 |
|
||||
| Total brokered deposits | $ |
10,001 |
|
$ |
18,001 |
|
$ |
17,991 |
|
$ |
17,961 |
|
$ |
8,000 |
|
||||
| Total core deposits | $ |
666,616 |
|
$ |
677,587 |
|
$ |
659,484 |
|
$ |
677,484 |
|
$ |
652,449 |
|
||||
| Total deposits | $ |
676,617 |
|
$ |
695,588 |
|
$ |
677,475 |
|
$ |
695,445 |
|
$ |
660,449 |
|
||||
| Average balances | |||||||||||||||||||
| Total securities | $ |
159,587 |
|
$ |
162,918 |
|
$ |
166,077 |
|
$ |
172,769 |
|
$ |
176,066 |
|
||||
| Total short term deposits | $ |
23,654 |
|
$ |
22,887 |
|
$ |
16,430 |
|
$ |
14,663 |
|
$ |
12,637 |
|
||||
| Total loans net of allowance | $ |
561,601 |
|
$ |
556,336 |
|
$ |
552,490 |
|
$ |
535,251 |
|
$ |
522,432 |
|
||||
| Total earning assets | $ |
754,173 |
|
$ |
751,371 |
|
$ |
744,050 |
|
$ |
731,735 |
|
$ |
720,383 |
|
||||
| Total assets | $ |
789,333 |
|
$ |
787,072 |
|
$ |
780,003 |
|
$ |
767,409 |
|
$ |
756,740 |
|
||||
| Total noninterest bearing deposits | $ |
152,844 |
|
$ |
158,888 |
|
$ |
156,858 |
|
$ |
156,513 |
|
$ |
156,729 |
|
||||
| Total brokered deposits | $ |
12,610 |
|
$ |
17,999 |
|
$ |
17,975 |
|
$ |
14,854 |
|
$ |
7,989 |
|
||||
| Total core deposits | $ |
676,900 |
|
$ |
671,949 |
|
$ |
668,008 |
|
$ |
657,555 |
|
$ |
660,307 |
|
||||
| Total deposits | $ |
689,510 |
|
$ |
689,948 |
|
$ |
685,983 |
|
$ |
672,409 |
|
$ |
668,296 |
|
||||
| (1) Classified assets is defined as the sum of all loan-related contingent liabilities and loans internally graded substandard or worse, impaired loans (net of government guarantees), adversely classified securities, and other real estate owned. | |||||||||
| (2) Classified asset ratio is defined as the sum of all loan-related contingent liabilities and loans internally graded substandard or worse, impaired loans (net of government guarantees), adversely classified securities, and other real estate owned, divided by bank Tier 1 capital, plus the allowance for credit losses. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250123270183/en/
Editorial Contact:
Ron Green, President & Chief Executive Officer
ron.green@opbc.com
(541) 902-9800
Source: Oregon Pacific Bancorp
FAQ
What was ORPB's Q4 2024 earnings per share?
How much did ORPB's net interest margin increase in Q4 2024?
What was ORPB's loan growth in 2024?
Why is ORPB discontinuing its residential mortgage lending?
How much did ORPB's deposits change in Q4 2024?
