Third quarter 2025 net earnings of $1.1 million, or $0.46 per common share
Quarterly return on average assets of 1.0% and return on average equity of 6.1%
SALEM, Ore., October 17, 2025--(BUSINESS WIRE)--Oregon Bancorp, Inc. (OTCBB: ORBN), parent company of Willamette Valley Bank, reported third quarter 2025 net income of $1.1 million, or $0.46 per share, up from $719,000, or $0.29 per share, in the prior quarter. The Company’s return on average assets and return on average equity for the third quarter were 1.0% and 6.1%, respectively. Net interest margin improved to 3.8%, compared to 3.7% in the previous quarter.
The balance sheet remained relatively consistent during the quarter, however we did see an increase of $9.4 million in deposits and a $7.2 million decline in loans. Residential mortgage loan volume decreased 8% from $63 million in the second quarter to $58 million in the third quarter, reflecting seasonal trends and continued market headwinds. The Company’s Board of Directors declared a quarterly dividend of $0.20 per share, which was paid on October 15, 2025.
"While the broader economic outlook remains uncertain, our team continues to demonstrate resilience and adaptability," said Ryan Dempster, President and CEO. "We remain focused on disciplined growth, maintaining strong credit quality, and delivering consistent value to our shareholders and the communities we serve."
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 five Home Loan Centers located in Oregon 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.
CONSOLIDATED BALANCE SHEETS (Unaudited) | |||||||||||
(Amounts in thousands except per share data) | |||||||||||
September 30, | June 30, | ||||||||||
ASSETS | 2025 | 2024 | 2025 | ||||||||
Cash and short term investments | $ | 25,547 | $ | 41,576 | $ | 22,058 | |||||
Securities available-for-sale, at fair value | 104,558 | 102,570 | 102,996 | ||||||||
Loans available for sale, at fair value | 11,717 | 11,843 | 16,024 | ||||||||
Loans: | |||||||||||
Real estate | 284,734 | 314,889 | 292,654 | ||||||||
Commercial | 7,836 | 7,144 | 8,119 | ||||||||
Other | 1,152 | 941 | 273 | ||||||||
Deferred fees and costs | (581 | ) | (737 | ) | (604 | ) | |||||
Loan loss reserve | (3,055 | ) | (3,553 | ) | (3,191 | ) | |||||
Total net loans | 290,086 | 318,684 | 297,251 | ||||||||
Property and other assets | 26,914 | 21,841 | 21,107 | ||||||||
Total assets | $ | 458,822 | $ | 496,514 | $ | 459,436 | |||||
LIABILITIES | |||||||||||
Deposits: | |||||||||||
Noninterest-bearing demand | $ | 32,976 | $ | 33,439 | $ | 31,272 | |||||
Interest-bearing demand | 88,577 | 89,433 | 87,692 | ||||||||
Savings and money market | 132,563 | 125,560 | 116,807 | ||||||||
Certificates of deposit | 83,181 | 94,534 | 92,100 | ||||||||
Total deposits | 337,297 | 342,966 | 327,871 | ||||||||
Borrowings | 37,000 | 69,000 | 48,000 | ||||||||
Other liabilities | 9,017 | 10,753 | 9,203 | ||||||||
Total liabilities | 383,314 | 422,719 | 385,074 | ||||||||
SHAREHOLDERS' EQUITY | 75,508 | 73,795 | 74,362 | ||||||||
Total liabilities and shareholders' equity | $ | 458,822 | $ | 496,514 | $ | 459,436 | |||||
Book value per common share | $ | 30.29 | $ | 29.76 | $ | 29.80 | |||||
CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited) | |||||||||||||
(Amounts in thousands except per share data) | |||||||||||||
Nine Months Ending | Three Months Ending | ||||||||||||
September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | ||||||||||
Interest income | $ | 18,561 | $ | 18,626 | $ | 6,370 | $ | 6,852 | |||||
Interest expense | 6,507 | 6,909 | 2,172 | 2,772 | |||||||||
Net interest income | 12,054 | 11,717 | 4,198 | 4,080 | |||||||||
Provision for loan losses | (189 | ) | 397 | (137 | ) | 109 | |||||||
Net interest income after provision | 12,243 | 11,320 | 4,335 | 3,971 | |||||||||
Noninterest income | 7,248 | 9,261 | 2,583 | 3,022 | |||||||||
Noninterest expense | 16,434 | 17,397 | 5,483 | 5,714 | |||||||||
Net income before income taxes | 3,057 | 3,184 | 1,435 | 1,279 | |||||||||
Provision for income taxes | 675 | 732 | 292 | 262 | |||||||||
Net income after income taxes | $ | 2,382 | $ | 2,452 | $ | 1,143 | $ | 1,017 | |||||
Net income per common share, basic | $ | 0.96 | $ | 0.99 | $ | 0.46 | $ | 0.41 | |||||
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Contacts
Ryan Dempster
Oregon Bancorp, Inc.
503-485-2222
bank@wvbk.com