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February 16, 2021

Oak View National reports $2-million profit for 2020

File Photo/Lawrence Emerson
At year’s end, Oak View National Bank had only one non-performing loan, totaling $24,825.
In spite of the extraordinary circumstances the bank faced in 2020, we are pleased that the financial results for 2020 were strong.
— Vice Chairman and CEO Michael Ewing
Warrenton-based Oak View National Bank reported a $2-million profit for 2020 — almost exactly the same as the prior year.

The bank’s board on Jan. 21 declared an annual dividend of 4 cents per share.

“In spite of the extraordinary circumstances the bank faced in 2020, we are pleased that the financial results for 2020 were strong,” Vice Chairman and CEO Michael Ewing said. “This allowed the bank to initiate payment of a dividend.”

For the fourth quarter of 2020, the bank reported net income of $585,715 or 20 cents per basic share compared with $532,195 or 19 cents per share basic for the same period a year earlier.

Oak View ended 2020 with total assets of $284.7 million — up 7.9 percent year over year.

Total loans increased 22 percent to $246 million and included $26.3 million in Payroll Protection Program loans

Total deposits stood at $239.9 million, up 15.1 percent.

At year’s end, the bank only had one non-performing loan, totaling $24,825.

Founded in 2009, Oak View has bank offices in Warrenton, Marshall and Culpeper and a loan production office in Washington.
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