Willamette Cmty Bnk (WMCB) 6.0500 $WMCB
Willamette Community Bank reaches $100 Million in Assets, Announces Second Quarter Results
PR Newswire - Fri Aug 01, 6:47PM CDT
Willamette Community Bank (OTCQB: WMCB) reported second quarter loss $46,000, primarily due to a $203,000 loan loss provision made in the quarter. Core operations remain strong, however, as the bank passed $100 Million in assets for the first time in its history, being $101.5 Million in total assets as of 6/30/2014. Core deposits grew by roughly $11.2 Million for the quarter, while loans were up $3.5 Million. Both loans and deposits grew at record pace for the bank. Cost of funds improved to 0.34% from 0.40% during the quarter. Net interest margin was at 4.01%, down slightly as deposit growth outpaced loans for the quarter, with significant growth in interest bearing transaction accounts. Willamette Community Bank's CEO, Dan McDowell, stated "Despite our provision, our asset quality remains strong and is among the best of community banks. As we have continued to execute our strategic plan, our growth has been exceptional in 2014. We expect our earnings will be equally strong as we effectively manage our classified assets."
Willamette Community Bank Hires Veteran for New Salem, Oregon Office
PR Newswire - Tue Apr 01, 4:41PM CDT
Willamette Community Bank (OTCQB: WMCB) is pleased to announce the opening of a new Loan Production Office in Salem. The bank, headquartered in Albany, Oregon, has chosen Salem to be the newest addition to its highly successful banking franchise. The bank recently completed its 8th consecutive year of profitability with record performance. Net income for 2013 increased by 61% over 2012, marking the most profitable year in the bank's 10 year history.
Willamette Community Bank Announces Record Profitability in 2013
PR Newswire - Mon Feb 10, 4:07PM CST
Willamette Community Bank (OTCBB: WMCB) completes its 8th consecutive year of profitability with record performance. Net income for the year increased by 61% over 2012, coming in at $401,000, marking the most profitable year in the bank's 10 year history. Net Interest Margin increased from the third quarter by 36Bps (0.36%) to 4.37% in fourth quarter 2013, resulting from continued core deposit strength and new loans originated in the final quarter of the year. Asset quality showed continued strength, with non-performing assets remaining at only 0.02% of total assets. Net Loans increased $1.7MM over prior year end, with strong growth noted in the final two quarters of the year.
Willamette Community Bank reaches $100 Million in Assets, Announces Second Quarter Results
PR Newswire - Fri Aug 01, 6:47PM CDT
Willamette Community Bank (OTCQB: WMCB) reported second quarter loss $46,000, primarily due to a $203,000 loan loss provision made in the quarter. Core operations remain strong, however, as the bank passed $100 Million in assets for the first time in its history, being $101.5 Million in total assets as of 6/30/2014. Core deposits grew by roughly $11.2 Million for the quarter, while loans were up $3.5 Million. Both loans and deposits grew at record pace for the bank. Cost of funds improved to 0.34% from 0.40% during the quarter. Net interest margin was at 4.01%, down slightly as deposit growth outpaced loans for the quarter, with significant growth in interest bearing transaction accounts. Willamette Community Bank's CEO, Dan McDowell, stated "Despite our provision, our asset quality remains strong and is among the best of community banks. As we have continued to execute our strategic plan, our growth has been exceptional in 2014. We expect our earnings will be equally strong as we effectively manage our classified assets."
Willamette Community Bank Hires Veteran for New Salem, Oregon Office
PR Newswire - Tue Apr 01, 4:41PM CDT
Willamette Community Bank (OTCQB: WMCB) is pleased to announce the opening of a new Loan Production Office in Salem. The bank, headquartered in Albany, Oregon, has chosen Salem to be the newest addition to its highly successful banking franchise. The bank recently completed its 8th consecutive year of profitability with record performance. Net income for 2013 increased by 61% over 2012, marking the most profitable year in the bank's 10 year history.
Willamette Community Bank Announces Record Profitability in 2013
PR Newswire - Mon Feb 10, 4:07PM CST
Willamette Community Bank (OTCBB: WMCB) completes its 8th consecutive year of profitability with record performance. Net income for the year increased by 61% over 2012, coming in at $401,000, marking the most profitable year in the bank's 10 year history. Net Interest Margin increased from the third quarter by 36Bps (0.36%) to 4.37% in fourth quarter 2013, resulting from continued core deposit strength and new loans originated in the final quarter of the year. Asset quality showed continued strength, with non-performing assets remaining at only 0.02% of total assets. Net Loans increased $1.7MM over prior year end, with strong growth noted in the final two quarters of the year.
