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OXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER AND NINE-MONTH 2022 OPERATING RESULTS
OXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER AND NINE-MONTH 2022 OPERATING RESULTS.
About this update from Oxford Bank Corporation
[{"type":"text","content":"\n\n\n\nOXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER AND NINE-MONTH 2022 OPERATING RESULTS\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n\n\n\n\n\n\nOXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER AND NINE-MONTH 2022 OPERATING RESULTS\nPR Newswire\nOXFORD, Mich., Oct. 27, 2022\n\n\n\nOXFORD, Mich., Oct. 27, 2022 /PRNewswire/ -- Oxford Bank Corporation (\"the Company\") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank (\"the Bank\"), today announced operating results for the third quarter ended September 30, 2022.\n\n \n \n \n \n \n \n\n \nThe Company's quarterly consolidated earnings for the three months ended September 30, 2022, were $2.632 million, or $1.09 per weighted average share, compared to $2.496 million, or $1.10 per weighted average share for the same period one year ago.  Third quarter 2022 earnings also increased, as expected, compared to second quarter net income of $1.787 million, or $.74 per weighted average share.  Earnings for the first three quarters of 2022 were $5.478 million, or $2.30 per share, compared to $8.852 million, or $3.87 per share for the same period of 2021.  President and CEO, David Lamb, commented \"While our year-over-year results continue to reflect the impact of our successful PPP activity and income recognition in 2021, we remain very pleased with the progression of the 2022 \"more normalized\" results.  The earnings increase over the first three quarters reflect the continued focus on our core business and the positive impact of our investments in Oxford Commercial Finance (\"OCF\") which houses our factoring and asset-based lending businesses.  Increased interest rates continue to magnify this impact given the well-balance...