Willamette Cmty Bnk (WMCB) 6.6500 $WMCB
Willamette Community Bank Announces Third Quarter Results, Continued Growth and Profitability
PR Newswire - Fri Nov 14, 1:47PM CST
Willamette Community Bank (OTCQB: WMCB) has reported third quarter earnings with a profit of $113,000, the most profitable quarter to date under bank CEO Dan McDowell. The performance was primarily due to continued growth in earning assets as well as reductions in both interest and non-interest related expenses. The bank's assets grew by $2.4 Million from the second quarter 2014, to total assets of $103.9 Million. Core deposits grew by roughly $2.32 Million for the quarter, while loans were up $2.8 Million. Cost of funds were slightly down, going from 0.35% to 0.34% during the quarter. Net interest margin was at 4.08%, relatively flat on the quarter over quarter basis, while asset quality continued to be strong, with only 0.03% of assets classified as non-performing. Willamette Community Bank's CEO, Dan McDowell, stated, "We have continued executing on the bank's strategy of growing relationships while managing our expenditures. Now that we have mobilized our brand, we will continue to temper our growth with prudent risk management. Our outstanding results in the third quarter reflect the efforts of our staff and the value of both our customer and community relationships."
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 Announces Third Quarter Results, Continued Growth and Profitability
PR Newswire - Fri Nov 14, 1:47PM CST
Willamette Community Bank (OTCQB: WMCB) has reported third quarter earnings with a profit of $113,000, the most profitable quarter to date under bank CEO Dan McDowell. The performance was primarily due to continued growth in earning assets as well as reductions in both interest and non-interest related expenses. The bank's assets grew by $2.4 Million from the second quarter 2014, to total assets of $103.9 Million. Core deposits grew by roughly $2.32 Million for the quarter, while loans were up $2.8 Million. Cost of funds were slightly down, going from 0.35% to 0.34% during the quarter. Net interest margin was at 4.08%, relatively flat on the quarter over quarter basis, while asset quality continued to be strong, with only 0.03% of assets classified as non-performing. Willamette Community Bank's CEO, Dan McDowell, stated, "We have continued executing on the bank's strategy of growing relationships while managing our expenditures. Now that we have mobilized our brand, we will continue to temper our growth with prudent risk management. Our outstanding results in the third quarter reflect the efforts of our staff and the value of both our customer and community relationships."
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."
