Stay in the know! Sign up to get Fauquier County news updates delivered to your inbox.
Advertise on Fauquier Now!
FauquierNow.com
Poll closed Vote!
HOME OBITUARIES NEWS HOME & GARDEN OPINIONS BUSINESS STYLE CALENDAR CLASSIFIEDS
Free classifieds! Members can also post calendar events, news, opinions and more ... all for free! Register now!
Login · Forgot Your Password?
April 24, 2019

Oak View National 1Q profit rises 19 percent in year

Oak View has three offices, including this one on Broadview Avenue in Warrenton.
Warrenton-based Oak View National Bank reported net income of $437,808 for the quarter ended March 31 — up 19.8 percent from the same period last year.

Basic and diluted earnings per share rose to 15 cents, compared with 13 cents in the first quarter of 2018.

“As previously reported, we continue to see pressure on our net interest margin due to the increases in short-term interest rates,” Vice Chairman and CEO Michael Ewing said. “We have been able to increase our revenues from asset growth and higher non-interest income, while keeping tight control of our noninterest expenses, which has allowed us to report improved profitability and higher returns on both assets and equity.”

Net loans increased 6.66 percent in 12 months to $202.8 million at the end of the first quarter.

Credit quality remained strong as the bank had just two non-performing assets, totaling $62,490, at the quarter’s close.

Total deposits ended the quarter at $197.2 million, up of 7.65 percent from a year earlier.

Total bank assets ended the quarter at $244.8 million, representing an annual growth rate of 8.4 percent.

Established in 2007, Oak View has offices in Warrenton, Marshall and Culpeper. It grew from the roots of the old Marshall National Bank & Trust Co., which went through a series of mergers, starting in 1998.

Among financial institutions in Fauquier, Oak View ranks third in deposits, according to the latest Federal Deposit Insurance Corp. survey.

The bank’s stock last traded at $7.80 a share on April 24. Traded over the counter (OTC Pink: OAKV), the stock’s price has ranged from a low of $7.10 per share to a high of $10.20 over the last 12 months.


Member comments
To comment, please log in or register.
Facebook comments
Enter your email address above to begin receiving
news updates from FauquierNow.com via email.
Wednesday, September 18
Weekend options include the Grace Church Concert Series 20th season opening and community garden event in Remington
Tuesday, September 17
Raul Heras played a leading role in starting the Warrenton Youth Soccer Club 20 years ago
Tuesday, September 17
Warrenton-based institution adds $30 million in year, according to Federal Deposit Insurance Corp.
More Fauquier news
© Copyright 2011-2018

50 Culpeper Street, Suite 3
Warrenton, Virginia 20187
540.359.6574
Crime Log
Obituaries
Business
Add Your News
The Big Picture
Ellen’s Kitchen
and Garden

Features
Real Estate
For Sale
Employment
Automotive
Announcements
Legal Notices
Post an Ad
Advertise
Terms of Service