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OXFORD, Mich., May 6, 2021 /PRNewswire/ Oxford Bank announced today that it has processed 1,951 loans totaling $342,203,867 under the Small Business Administration s Paycheck Protection Program (PPP) to help local small businesses support payroll and related costs, saving approximately 20,000 jobs within Southeastern Michigan. The average loan size was approximately $175,400. The PPP, which was originally launched on April 3 to address economic challenges caused by the COVID-19 pandemic, provides forgivable, government-guaranteed loans for the nation s small businesses, which account for roughly 48 percent of the U.S. workforce.
Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation) As relationship bankers and dedicated members of this community, we are doing everything we can to protect the vibrancy of our small businesses, which serve as the economic engines for our local economy, said David Lamb, President and CEO of Oxford Ban
Oxford Bank Corporation Announces First Quarter 2021 Operating Results
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OXFORD, Mich., April 28, 2021 /PRNewswire/ Oxford Bank Corporation ( the Company ) (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ( the Bank ), today announced record operating results for the first quarter ended March 31, 2021.
The Company s quarterly consolidated earnings for the three months ended March 31, 2021, were $3,088,000, or $1.35 per weighted average share compared to $1,387,000, or $0.61 per weighted average share for the same period one year ago.
Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)
Total Assets of the Company increased to $757.0 million as of March 31, 2021 from $691.1 million at December 31, 2020 and $513.6 million at March 31, 2020. The increase in assets was due to the Bank s continued participation in the PPP program in 2021 resulting in the origination of an additional $96.9 million in
Oxford Bank Corporation Announces Fourth Quarter 2020 Operating Results
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OXFORD, Mich., Jan. 28, 2021 /PRNewswire/ Oxford Bank Corporation ( the Company ) (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ( the Bank ), today announced profitable operating results for the fourth quarter and year ended December 31, 2020.
Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)
The Company s quarterly consolidated earnings for the three months ended December 31, 2020, were $2,257,000, or $0.98 per weighted average share compared to $1,603,000, or $0.70 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $7,001,000 or $3.04 per weighted average share for the twelve months ended December 30, 2020 compared to $5,277,000 or $2.31 per weighted average share for the twelve months ended December 31, 2019.