Third quarter 2024 net earnings of $1.0 million, or $0.41 per common share

Quarterly return on average assets of 0.9% and return on average equity of 5.6%

Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income for the third quarter of $1,017,000 and $0.41 per common share. The Company’s quarterly return on average assets and return on average equity were 0.9% and 5.6%, respectively. This compares to $801,000 in net income and $0.32 per common share outstanding for the quarter ending June 30, 2024.

The Company’s balance sheet expanded by $16.0 million in assets during the quarter. This was largely the result of a $31.8 million increase in deposits that improved balance sheet liquidity and reduced FHLB borrowings. The Company’s net interest margin also increased from 3.4% to 3.5% during the third quarter. Residential loan origination volume decreased during the quarter from $75 million to $63 million. Bank asset quality and capital remain strong and the Board of Directors distributed a $0.20 per share quarterly dividend on October 15, 2024.

Ryan Dempster, President and CEO, commented, “The Federal Reserve recently reduced interest rates as a result of positive reports on inflation and slowing labor market. This led to reduced borrowing rates and improved residential loan application volume. Overall, we are pleased with our quarterly financial results which are the best since the second quarter of 2023.”

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. The Bank also operates five Home Loan Centers located in Oregon and 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.

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