Oregon Pacific Bancorp announced on April 21 its financial results for the first quarter of 2026, reporting net income of $2.4 million, or $0.33 per diluted share, for the period ending March 31. This compares to $2.7 million, or $0.37 per diluted share, in the previous quarter.
The bank reported a quarterly tax equivalent net interest margin of 4.13%, which represents an expansion of 0.17% over the prior quarter. Despite retiring $10 million in brokered deposits during the period, Oregon Pacific Bancorp saw deposit growth of $7.3 million for the quarter.
Ron Green, Chief Executive Officer, said: “Our first quarter results demonstrate the benefit of our disciplined approach to credit and pricing, driving our sixth consecutive quarter of margin expansion.” Green added that this performance “positions us well as we continue to serve our local business and nonprofit clients.”
The company’s quarterly loan production totaled $27.8 million with a weighted average effective rate of 6.91%. However, outstanding loan balances declined slightly due to approximately $16.7 million in early loan payoffs—mainly from one property sale and some borrowers refinancing into long-term financing through Federal National Mortgage Association programs that offer fixed-rate structures without personal guarantees.
Noninterest income fell by $221 thousand compared to the prior quarter, mainly due to a reduction in trust fee income following normalization after spikes from real estate transactions at year-end 2025. As of March 31, trust assets under management rose to $307.6 million—a gain both quarterly and annually.
Noninterest expenses increased by $471 thousand over last quarter primarily because salaries and employee benefits grew by $306 thousand; bonus compensation expense was adjusted upward based on projected year-end performance.
The company also announced Ron Green’s pending retirement later in 2026 with Amber White named as his successor CEO.
Looking ahead, Oregon Pacific Bancorp stated that it anticipates continued growth in trust services throughout this year but cautioned investors not to place undue reliance on forward-looking statements given inherent risks and uncertainties.
