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Oregon Pacific Bank Announces Fourth Quarter and Full Year Earnings Results
Oregon Pacific Bancorp (ORPB) today reported financial results for the fourth quarter and year ended December 31, 2020.
Highlights
Quarterly non-PPP loan growth of $5.8 million
Tax equivalent fourth quarter net interest margin of 4.29%
Annual loan growth of $92.1 million or 30.32%
Annual deposit growth of $168.3 million or 52.92%
Annual net income of $4.4 million, representing growth of 23.74% over 2019
Oregon Pacific Bancorp, and its wholly-owned subsidiary Oregon Pacific Bank, reported quarterly net income of $2.1 million, or $0.30 per diluted share compared to $1.1 million, or $0.15 per diluted share for the quarter ended December 31, 2019. On an annual basis, the Bank recorded net income totaling $4.4 million, or $0.62 per diluted share compared to $3.5 million, or $0.51 per diluted share for the same period in 2019. Fourth quarter net income was elev