Oak Ridge, NC, May 09, 2019 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; the “Company”) (BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced that it has been named to American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts, coming in at number 110. The ranking is based on a company’s three-year average return on average equity (“ROAE”) through December 31, 2018. ROAE is widely used by investors to analyze business performance. This is the third consecutive year the Company has been named to the prestigious list, and was one of six other North Carolina bank holding companies in the magazine’s ranking. No other Triad based bank made the list.
“It is an honor to be named to American Banker’s Top 200 Community Banks and Thrifts list for the third consecutive year,” said Tom Wayne, Chief Executive and Chief Financial Officer. “We are proud of the talented team of professionals who have contributed to the great success we have had in the communities we serve, and we are optimistic about our growth and momentum thus far in 2019.”
American Banker published the ranking as part of its May 2019 issue.
About Oak Ridge Financial Services, Inc.
Oak Ridge Financial Services, Inc. (BKOR) is the holding company for Bank of Oak Ridge. Bank of Oak Ridge is an employee owned community bank that provides Spectacularly Local banking. Bank of Oak Ridge has been named Best Bank in the Triad six years in a row, one of the Triad’s Healthiest Employers and Top Workplaces, and winner of the Better Business Bureau’s Torch award for ethics in 2016. We offer a complete range of banking services for individuals and businesses. Bank of Oak Ridge is a Member of the FDIC and an Equal Housing Lender.
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Visit Us | To learn more, visit us during our extended weekday and Saturday hours at one of our convenient locations in Greensboro, Summerfield and Oak Ridge, North Carolina, or call 336.644.9944, or online at www.BankofOakRidge.com.
This form contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like “expect,” “anticipate,” “estimate” and “believe,” variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, (1) competition in the Company’s markets, (2) changes in the interest rate environment, (3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and the possible impairment of collectability of loans, (4) legislative or regulatory changes, including changes in accounting standards, (5) significant changes in the federal and state legal and regulatory environment and tax laws, (6) the impact of changes in monetary and fiscal policies, laws, rules and regulations and (7) other risks and factors identified in the Company’s other filings with the Federal Deposit Insurance Corporation. The Company undertakes no obligation to update any forward-looking statements.
Contact: Thomas W. Wayne, CEO and CFO