Salem, Ore. – February 18, 2021 – Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, announced today that its Board of Directors declared a special cash dividend of $3.50 per share payable on March 15, 2021 to shareholders of record as of March 1, 2021.
“We are proud of our financial success during 2020 despite the economic and operating challenges posed by the COVID-19 pandemic,” stated Ryan Dempster, President and Chief Executive Officer. “The Company’s record earnings and strong capital position allow for a significant capital distribution to our shareholders. This is our fifth annual special dividend and represents a 133% increase over last year’s dividend.”
Oregon Bancorp, Inc.
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 operates full-service branches in Salem, Keizer, Silverton, and Albany, Oregon. The Bank also operates Home Loan Centers in Bend, Eugene, Grants Pass, Medford, Portland, Tualatin, and West Linn, Oregon, Vancouver, Spokane, Newport and Yakima, Washington, and Coeur d’Alene and Meridian, Idaho. For more information about Oregon Bancorp, Inc. or its subsidiary, Willamette Valley Bank, please call (503)485-2222 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.