Oregon Bancorp Announces Quarterly Earnings

Third quarter 2026 net earnings of $0.7 million, or $0.30 per common share

Quarterly return on average assets of 0.6% and return on average equity of 4.0%

Year-to-date earnings of $1.8 million, or $0.71 per common share

SALEM, Ore.--(BUSINESS WIRE)--Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income of $746 thousand, or $0.30 per share, for the third quarter of 2026, compared to net income of $604 thousand, or $0.24 per share, for the second quarter of 2026. The Company generated a return on average assets of 0.6% and a return on average equity of 4.0% for the quarter. Third-quarter results included $212 thousand of trailing expenses associated with the closure of the Mortgage Department and $733 thousand of merger-related expenses.

For the nine months ended September 30, 2026, the Company earned $1.8 million, or $0.71 per common share, compared to $2.4 million, or $0.96 per common share, for the same period in 2025. This performance represents an annualized return on average assets of approximately 0.5% and an annualized return on average equity of approximately 3.1%.

The Company’s balance sheet remained relatively stable during the quarter, with total assets of $465.8 million at September 30, 2026. Total deposits increased $4.6 million to $363.0 million, while net loans increased $0.8 million to $301.0 million. Asset quality and capital levels remained strong, with shareholders’ equity totaling $74.5 million and book value per common share of $29.81.

The Board of Directors declared a quarterly cash dividend of $0.20 per share, continuing the Company’s long-standing commitment to providing value to shareholders.

Ryan Dempster, President and CEO, commented, “Third-quarter earnings improved despite trailing expenses associated with the closure of our Mortgage Department and expenses related to the previously announced acquisition. We continue to see positive momentum in commercial deposits and loans despite a challenging interest rate environment. Net interest revenue also improved meaningfully compared with both the second quarter of 2026 and the third quarter of last year. We remain focused on serving our customers and communities while successfully navigating this important period of transition for the Company.”

About Oregon Bancorp, Inc.

Oregon Bancorp, Inc. is the parent company of Willamette Valley Bank (Bank), a community bank headquartered in Salem, Oregon. The Bank conducts commercial and retail banking activities at four full-service branch locations in Salem, Keizer, Silverton, and Albany, Oregon. For more information about Oregon Bancorp, Inc., or its subsidiary, Willamette Valley Bank, please call [phone] or visit our website at www.willamettevalleybank.com.

Forward Looking Statements

Certain statements in this release may be deemed “forward-looking statements”. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

CONSOLIDATED BALANCE SHEETS (Unaudited)
(Amounts in thousands except per share data)
	September 30,						June 30,
ASSETS		2026			2025			2026
Cash and short term investments	$	42,478		$	25,547		$	41,268
Securities available-for-sale, at fair value		101,527			104,558			105,221
Loans available for sale, at fair value		-			11,717			-
Loans:
Real estate		294,562			284,734			292,388
Commercial		9,850			7,836			11,283
Other		209			1,152			231
Deferred fees and costs		(527	)		(581	)		(562	)
Allowance for credit losses		(3,046	)		(3,055	)		(3,069	)
Total net loans		301,048			290,086			300,271
Property and other assets		20,732			26,914			18,662
Total assets	$	465,785		$	458,822		$	465,422
LIABILITIES
Deposits:
Noninterest-bearing demand	$	35,972		$	32,976		$	38,285
Interest-bearing demand		96,677			88,577			100,159
Savings and money market		149,986			132,563			140,428
Certificates of deposit		80,387			83,181			79,552
Total deposits		363,022			337,297			358,424
Borrowings		22,000			37,000			24,000
Other liabilities		6,197			9,017			6,864
Total liabilities		391,219			383,314			389,288
SHAREHOLDERS' EQUITY		74,566			75,508			76,134
Total liabilities and shareholders' equity	$	465,785		$	458,822		$	465,422
Book value per common share	$	29.81		$	30.29		$	30.44

CONSOLIDATED STATEMENTS OF NET INCOME (Unaudited)
(Amounts in thousands except per share data)
	Nine Months Ending					Three Months Ending
	September 30, 2026		September 30, 2025			September 30, 2026			September 30, 2025
Interest income	$	18,615	$	18,561		$	6,459		$	6,370
Interest expense		5,568		6,507			1,893			2,172
Net interest income		13,047		12,054			4,566			4,198
Provision (benefit) for credit losses		89		(189	)		(24	)		(137	)
Net interest income after provision		12,958		12,243			4,590			4,335
Noninterest income		1,691		7,248			310			2,583
Noninterest expense		12,365		16,434			3,966			5,483
Net income before income taxes		2,284		3,057			934			1,435
Provision for income taxes		503		675			188			292
Net income after income taxes	$	1,781	$	2,382		$	746		$	1,143
Net income per common share, basic	$	0.71	$	0.96		$	0.30		$	0.46