2020 Net Income – $7.93 million, up 41.3 percent from 5.62 million in 2019.
$1.38 per fully diluted share, up 29.1 percent from 1.07 in 2019.
2020 Net Loan Growth – $76.5 million or 17.5 percent (excluding PPP loans).
PPP loans made during Q2 2020 – $119 million of which $61 million remain outstanding at FYE.
2020 Deposit Growth – $206 million or 45.6 percent over FYE 2019.
We were pleased to originate $119 million in emergency Paycheck Protection Program (PPP) loans to assist clients in mitigating the effects of the COVID-19 pandemic in our Eugene/Springfield, Central Oregon and Portland Metropolitan market areas. These loans helped businesses and nonprofit entities hire back or retain thousands of Oregon employees. The Bank also saw a strong year over year improvement in the results and operations of all our teams including the Portland Metropolitan office, which opened in 2019.