Oak View National Bank quarterly profit up 310%
File Photo/Lawrence Emerson
The independent bank reported a first quarter profit of $764,898, up 310 percent from the same period of 2020. Due to the COVID-19 pandemic, the business environment over the past year was challenging, however, we have now seen marked improvement . . . . Vice Chairman and CEO Michael Ewing Warrenton-based Oak View National Bank on Monday reported a first-quarter profit of $764,898, compared to $186,545 for the same period in 2020. That represents a 310-percent increase.
Earnings per share rose to 26 cents versus 6 cents.
âAs previously reported, the bank is participating in the SBA Payroll Protection Program and now has $24.6 million in outstanding loans under the government program,â Vice Chairman and CEO Michael Ewing said. âThe bank had no past due loans as of March 31, 2021, and only one non-performing loan totaling $20,685.
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