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OAK RIDGE, N.C., June 11, 2024 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), was included in The American Banker’s Top 100 Publicly Traded Community Banks under $2 billion in assets. The ranking is based on data from year-end 2023 and uses the institutions' three-year average return on average equity, or ROAE, to determine the ranking. Investors frequently use ROAE to analyze business performance and shareholder return. Oak Ridge’s three-year average ROAE for 2021-2023 was 13.25%.
This year, American Banker and Capital Performance Group trimmed the list from the 200 top performers to 100 banks due to consolidation and the shrinking number of institutions in this asset class, better representing the top quartile of banks with under $2 billion of assets. Oak Ridge had been recognized as part of the top 200 publicly traded banks in $2 billion in assets prior to 2023 for seven consecutive years, ranking #109 in 2022. Oak Ridge was ranked #97 in 2023.
“It is an incredible honor to be ranked amongst American Banker’s Top 100 Publicly Traded Banks,” said Tom Wayne, Chief Executive Officer and Chief Financial Officer. “We are proud of the talented team of professionals that have contributed to the remarkable success in the communities we serve.”
About Oak Ridge Financial Services, Inc., and Bank of Oak Ridge
At Bank of Oak Ridge, we pride ourselves on knowing your name when you walk through our door. Whether in-person or through our digital offerings, managing your financial well-being is easy, safe, and convenient. We are the longest-running employee-owned community bank in the Triad and have served community members, local businesses, and non-profit organizations since 2000. Learn more about what makes Bank of Oak Ridge the Triad’s community bank by visiting one of our convenient locations in Greensboro, High Point, Summerfield, and Oak Ridge.
Oak Ridge Financial Services, Inc. (OTC Pink: BKOR) is the holding company for Bank of Oak Ridge. Bank of Oak Ridge is a member of the FDIC and an Equal Housing Lender.
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