Oregon Bancorp Q3 net income rises from prior quarter
ORBN•Oregon Bancorp reported Q3 net income of $746,000, up from the prior quarter, and net interest income of $4.57 million, higher both sequentially and year over year.
1. Quarterly results
Oregon Bancorp reported Q3 earnings per share of $0.30 and net income of $746,000, up from the prior quarter. Net interest income was $4.57 million, improving from both the prior quarter and year-ago period.
2. Costs and lending
Q3 results included expenses from closing the Mortgage Department and merger-related costs. The company cited growth in commercial deposits and loans despite a challenging interest rate environment. It did not provide specific guidance for upcoming quarters or the full year.
