Anyone ever see a Q4 2014 announcement and/or full year 2014 results? I'm not seeing it on the website.
OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2015 OPERATING RESULTS Oxford, Michigan – Oxford Bank Corporation (“the Company”) (OTC Bulletin Board: OXBC), the holding company for Oxford Bank (“the Bank”), today announced profitable operating results for the first quarter of 2015.
The Company’s quarterly consolidated earnings for the three months ended March 31, 2015 totaled $647,000, or $0.47 per weighted average share compared to $531,000, or $0.46 per weighted average share during the first quarter of 2014. The Company has maintained continuous profitability for the last 18 quarters.
The Bank’s Tier I capital totals $21,692,000 as of March 31, 2015, or 8.02% of average total assets compared to a low of $7,100,000, or 2.44% as of October of 2010. The Bank has continued to gradually build capital through earnings, operating efficiencies, and strategic balance sheet management. In addition, the Company has successfully raised capital through a Private Placement Memorandum which has provided capital totaling $3,059,200 through March 31, 2015.
Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates eight full-service offices in Clarkston, Davison, Dryden, Goodrich, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages a consumer and commercial lending center in downtown Oxford. The Bank has operated continuously under local ownership and management since it first opened for business in 1884. For more information about Oxford Bank and its complete line of financial services, please visit www.oxfordbank.com.
Except for the historical information contained herein, the matters discussed in the Release may be deemed forward-looking statements that involve risk and uncertainties. Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project", or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Factors which could cause actual results to differ, include, but are not limited to, fluctuations in interest rates, changes in economic conditions of the Bank's market area, changes in policies by regulatory agencies, the acceptance of new products, the impact of competitive products and pricing and the other risks detailed from time to time in the Bank's and Corporation’s reports. These forward-looking statements represent the Bank's judgment as of the date of this report. The Bank disclaims, however, any intent or obligation to update these forward-looking statements.
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