Oregon Pacific Bancorp (ORPB) Q1 2025 earnings summary

Executive summary

• Q1 2025 net income was $1.684M, or $0.23 per diluted share, versus $2.218M and $0.31 in Q4 2024; loans and deposits both grew QoQ.

• Tax-equivalent net interest margin edged up to 3.67% from 3.66% QoQ, while total cost of funds held at 1.36%.

Financial highlights

• Net interest income was $6.789M, down from $6.924M QoQ and up from $6.509M YoY; net income was $1.684M versus $1.590M YoY.

• Noninterest income totaled $2.143M, down $12K QoQ; noninterest expense rose $573K to $6.720M, driven by salaries and benefits.

• Period-end loans, net of deferred fees and costs, reached $582.9M, up $11.4M QoQ; deposits were $695.3M, up $18.7M, mainly in noninterest-bearing demand deposits.

• Loan production for new and renewed loans was $32.7M, at a weighted-average effective rate of 6.79% and repricing life of 3.04 years.

Outlook and guidance

• Mortgage applications in process continued ahead of planned mortgage business discontinuation in mid-2025.