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Bank CEO to Speak on Economy

Sun, 15 Mar 2009 15:46:00 GMT

Mar. 15--John Allison, chairman and CEO of Banking Branch & Trust, is to speak about the economic crisis Wednesday at Fayetteville State University.
After all, BB&T last year committed to give a $1.03 million gift to FSU -- the largest corporate donation in the university's history.
The donation by Winston-Salem-based BB&T enables FSU to create a lecture series and an institute bearing BB&T's name.

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Triad Bank Turns Down Money From Uncle Sam

Tue, 24 Feb 2009 09:47:00 GMT

Feb. 24--Q: Why do some banks take federal bailout money?
But High Point Bank executives said Monday they refused the government's $20 million offer because their solid capital position was more than enough to keep the bank healthy on its own.
"We had sufficient capital and liquidity to withstand problems that may be coming in the future, so we elected not to take the money," said Tom Eller, High Point Bank's chief financial officer.

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Oak Ridge Financial Services Announces Third Quarter 2009 Results

Sat, 14 Nov 2009 04:47:00 GMT

Oak Ridge Financial Services, Inc. (Nasdaq:BKOR), parent company of Bank of Oak Ridge, headquartered in Oak Ridge, North Carolina, announced unaudited net income of $159,000 before adjusting for the effective dividend on preferred stock for the three months ended September 30, 2009, compared to net income of $375,000 for the prior year period.
On the positive side, an increased net interest margin contributed to a significant increase in the Company's net interest income in the quarter ended September 30, 2009 compared to the same prior year period.
Earnings in the current period were negatively impacted by higher loan loss provisions, charge offs, and other real estate owned write downs in response to current economic conditions.

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Oak Ridge Financial Services Announces Second Quarter 2009 Earnings

Fri, 14 Aug 2009 17:49:00 GMT

Oak Ridge Financial Services, Inc. (Nasdaq:BKOR), parent company of Oak Ridge Financial Services, Inc., headquartered in Oak Ridge, North Carolina, announced unaudited net income for the three months ended June 30, 2009, before adjusting for the effective dividend on preferred stock, of $242,000 compared to net income of $384,000 for the prior year period.
After adjusting for $164,000 in dividends and accretion on preferred stock, net income available for common shareholders for the current period was $78,000 or $0.04 per diluted share compared with $0.21 per diluted share for the quarter ended June 30, 2008.
Oak Ridge Financial Services President, Ron Black, in commenting on the results, noted, "Given the difficult economic environment, we are pleased with our profitability in the second quarter of 2009.

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Oak Ridge Financial Services Announces Increased First Quarter 2009 Earnings

Fri, 15 May 2009 22:49:00 GMT

Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, today reported first quarter 2009 net income of $100,000, compared with net income of $61,000 for the same period in 2008.
Oak Ridge Financial Services President, Ron Black, in commenting on the results, noted, "Given the difficult economic environment, we are pleased with our profitability in the first quarter of 2009.
(3) Net interest margin is net interest income divided by average interest earning assets.

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Oak Ridge Financial Services Announces Increased 2008 Earnings

Fri, 27 Feb 2009 18:23:00 GMT

Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, today reported annual 2008 net income and diluted earnings per share of $1,038,000 and 58 cents, respectively, compared with annual net income and diluted earnings per share of $1,005,000 and 55 cents, respectively, for the same period in 2007. For the fourth quarter of 2008, the company reported net income and diluted earnings per share of $218,000 and 12 cents, compared with net income and diluted earnings per share of $398,000 and 22 cents, respectively, for the same period in 2007.[More...]

Bank Of Oak Ridge Uses TARP Money To Offer Lower Home And Lot Lending Rates

Wed, 11 Feb 2009 21:50:00 GMT

Bank of Oak Ridge (NASDAQ CM: BKOR) is utilizing Federal funds from the Troubled Assets Relief Program (TARP) to help both local homebuyers and homebuilders by offering special financing and incentives on specific homes and lots in the Triad area.
As a well-capitalized bank, Bank of Oak Ridge met stringent standards to qualify for the TARP funds and is using some of the money for their Community Investment Loan Program, which they have rolled out just two weeks after receiving the funds.
Unlike many of the larger banks receiving TARP funds, Bank of Oak Ridge has been a model of stability, remaining profitable for the past 20 consecutive quarters.

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Oak Ridge Financial Services Receives Preliminary Approval to Participate in the U.S. Treasury Capital Purchase Program, Company Expects to Use Proceeds to Benefit Local Businesses and Consumers

Tue, 06 Jan 2009 17:19:00 GMT

Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, today announced that the Bank has obtained preliminary approval of its application for the United States Treasury Department to invest $7,700,000 in the company’s preferred stock and warrants, as part of the government’s much publicized Capital Purchase Plan.[More...]

Oak Ridge Financial Services Announces a 25% Increase in Net Income and a 24% Increase in EPS; Solid Asset Quality and Strong Capital Position

Mon, 03 Nov 2008 23:23:00 GMT

Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, today reported quarterly net income increased 25% to $375,000 for the third quarter of 2008, compared with quarterly net income of $299,000 for the same period in 2007. Basic and diluted earnings per share also increased 24% to 21 cents per share for the third quarter of 2008, compared with basic and diluted earnings per share of 17 cents for the same period in 2007.[More...]

Oak Ridge Financial Services Announces "Near Record" Second Quarter Net Income and Solid Asset Quality

Fri, 08 Aug 2008 01:15:00 GMT

Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, today reported near record quarterly net income of $384,000 for the second quarter of 2008, compared with quarterly net income of $136,000 for the same period in 2007. The Company’s record quarterly earnings of $398,000 were achieved in the fourth quarter of 2007.[More...]

Oak Ridge Financial Services Announces First Quarter Earnings - Jun 1 2008 10:53AM

Thu, 08 May 2008 21:27:00 GMT

Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, today reported net income for the first quarter of 2008 of $61,000, compared with net income of $172,000 for the same period in 2007. Basic and diluted earnings per share were $0.03 for the first quarter of 2008, compared with basic and diluted earnings per share of $0.10 and $0.09 cents for the same period in 2007.[More...]