Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income of $3,463,856.00 for the 3rd-quarter of 2k19 compared to $2,410,129.00 during the 3rd-quarter of 2k18. This represents a 44.00 percent incline year over year. The improvement in quarterly net income was the result of a 13.00 percent incline in commercial loan balances and 40.00 percent incline in mortgage production from the 3rd-quarter of 2k18.
Quarterly return on assets rose to 5.310 percent contrast to 4.160 percent in the year-ago duration and return on equity reached 41.140 percent contrast to 36.10 percent in the 3rd-quarter of 2k18. Total assets rose to $266.00M from $257.00M and earnings for each share for the quarter were $1.490 contrast to $1.060 for the similar quarter a year ago. The company declared a quarterly dividend of $0.110 for each share that was paid on October 15, 2k19.
3rd-quarter 2k19 net earnings of $3.40M, or $1.490 for each common share
Quarterly net earnings raised $1,053,727.00, or 44.00 percent
Quarterly Return on Assets grew to 5.310 percent and Return on Equity reached 41.14 percent
Year-over-Year loan growth of 13.00 percent or $19.00M and deposit growth of 10.00 percent or $20.00M