02/17/2017: Oregon Pacific Bank Announces 2016 Earnings
Oregon Pacific Bank Announces 2016 Earnings
Oregon Pacific Bancorp and its wholly owned subsidiary Oregon Pacific Bank are reporting a consolidated Net Income of $1,135,082 for the period ending December 31, 2016. The results reflect a 59.3% increase over the period ending December 31, 2015.
Earnings per share increased from $0.17 to $0.26; a 52.9% improvement. Total assets increased $27.3 million, or 13.4%. Net loans and deposits also experienced strong growth due to the Banks’ expansion into the Eugene market with its Professional Banking Office, and expected growth from its more established branches in Roseburg, Coos Bay and Florence.
“We are very pleased with our growth and improvement in operational efficiency and profitability”, says Ron Green, President and Chief Executive Officer, “and we are working towards providing increased value for our shareholders. Our staff is very committed to delivering the highest level of client service and industry leading expertise. The opening of our Professional Banking Office in downtown Eugene has allowed us to diversify our product offering and clientele.”
“Our Eugene team is led by long-time Eugene banker Jeff Gusinow. Their focus has been on establishing relationships with the medical services, legal, accounting, and real estate investment industries. Jeff is joined by Vice President Linda Arnold, who leads our Trust Services department in Eugene. It is very unique and special for a smaller, local bank to provide full service fiduciary, wealth management and insurance services to compliment the traditional banking model. The Bank has also established the commitment to meeting the banking needs of non-profit agencies in all markets we serve”.
Oregon Pacific Bank has been headquartered in Lane County for over 37 years. Its corporate office is located in Florence and it has full service banking branches in Eugene, Roseburg, Coos Bay and Florence. Additionally, the Bank provides professional fiduciary and wealth management services and maintains trust operations in all offices plus a trust and wealth management office located in Medford.
In 2016, Oregon Pacific Bank formed a new subsidiary company called Oregon Pacific Wealth Management, LLC. This company is a State of Oregon Registered Investment Adviser and provides fiduciary level wealth management solutions, as well as brokerage investment and insurance services through a licensed LPL Financial principal.
Oregon Pacific Bancorp stock is publically traded under the ticker symbol ORPB on the OTC-Pink Open Market. Shares can be traded through any licensed broker.
You can learn more about Oregon Pacific Bank by visiting www.opbc.com or contacting Ron Green, President & Chief Executive Officer directly at 541-902-9800.