Business
OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2026 OPERATING RESULTS
OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2026 OPERATING RESULTS.
About this update from Oxford Bank Corporation
[{"type":"text","content":"\r\n\r\n \r\n \r\n OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2026 OPERATING RESULTS\r\n \r\n \r\n\r\n\r\nOXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2026 OPERATING RESULTS\r\n\r\n\r\n\r\n\r\n\r\n\r\nOXFORD, Mich., May 11, 2026 /PRNewswire/ -- Oxford Bank Corporation (\"the Company\") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank (\"the Bank\"), today announced operating results for the first quarter ended March 31, 2026.\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\nThe Company reported consolidated net income of $1.53 million, or $0.62 per weighted average share, for the first quarter of 2026, compared to $2.82 million, or $1.15 per share, for the same period one year ago and $2.30 million, or $0.93 per share, in the fourth quarter of 2025.\r\n Chairman, President and CEO David Lamb commented, \"First quarter earnings fell short of our team's expectations; however, two quarter‑specific factors meaningfully affected reported results and masked continued underlying strength in the Bank's core performance. Credit‑related reserve actions reduced quarterly earnings by approximately $1.5 million, and the expected normalization of balances from a large deposit relationship drove a decline in total deposits and average earning assets. Importantly, neither factor reflects a deterioration in our underlying franchise.\"\r\n Core Earnings, Credit Quality, and Lending Activity\r\n \"From an operating standpoint, our lending businesses produced a very strong quarter,\" Lamb continued. \"Oxford Commercial Finance posted its strongest production quarter since inception four years ago, benefiting from attractive risk‑adjusted yields that continue to support our net interest margin. Conventional commercial lending activity also exceeded expectations, as teams converted strong pipelines into new client relationships while maintaining discipline around underwriting, pricing, and deposit cross‑sale requirements.\"\r\n Net interest income for the quarter increased $1.12 million, or 11%, compared to the first quarter of 2025, reflecting loan growth and favorable asset yields. Net interest margin was 4.79% for the quarter, down from 5.23% for full‑year 2025, driven primarily by funding mix changes associated with balance sheet normalization and loan growth.\r\n Provision for credit losses totaled ...