Oxford Bank Corporation (ID) (OXBC)

$OXBC OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2022 OPERATING RESULTSPress Release | 04/27/2022
OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2022 OPERATING RESULTS

PR Newswire

OXFORD, Mich., April 27, 2022

OXFORD, Mich., April 27, 2022 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced operating results for the first quarter ended March 31, 2022.

Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)

The Company's quarterly consolidated earnings for the three months ended March 31, 2022, were $1,059,000, or $0.46 per weighted average share compared to $3,093,000, or $1.34 per weighted average share for the same period one year ago. CEO David Lamb commented, "The reduction in first quarter earnings is not reflective of what we expect this year as will be better overall than extrapolating using these results. Comparative first quarter results were impacted by start-up expense in commercial finance business and new markets like Ann Arbor which both initiatives began contributing revenue in April. The bigger impact to earnings for the quarter ended March 2022 is PPP revenue was down a net $1.4 million year over year as well as continued margin compression."

Total Assets of the Company increased to $786.4 million as of March 31, 2022, from $750.9 million at December 31, 2021 and $757.0 million at March 31, 2021. "The increase in assets clearly reflects both great work by our team and the excess liquidity in the market. To have total assets increase while net loans decreased by 49% (from PPP forgiveness) exemplifies the environmental anomalies especially given our non-PPP lending is strong. The clear part is our team continues to do a wonderful job of converting "new to the Bank" PPP only clients into full loan and deposit relationships," reported CEO David Lamb.

Net loans decreased to $387.7 million on March 31, 2022, from $575.8 million at March 31, 2021. Non-PPP lending was up $20 million year-over-year, highlighting the impact of PPP forgiveness. "We are seeing business customers starting to return to their normal borrowing patterns and have a very strong pipeline." CEO Lamb noted, "Clearly our deposit position is "too good" with Total Deposits increased to $703.7 million at March 31, 2022 from $675.8 million at March 31, 2021. We have expected for more than a year, that deposits will reduce and still believe they will decrease this year although likely less than previously thought. Management is being conservative investing cash in investment securities because the excess liquidity is needed to fund our new loan opportunities in commercial finance and conventional C&I lending. We believe our enviable liquidity position bodes very well for our future even at a cost today."

The Company's total shareholders' equity increased to $64.8 million as of March 31, 2022, representing book value per share of $27.22, compared to total Shareholders' equity of $56.7 million, or $24.96 per share one year earlier. The subsidiary Bank's Tier 1 capital totaled $75.5 million as of March 31, 2022, or 18.2% of risk-weighted assets compared to $56.5 million, or 13.8% of risk-weighted assets as of March 31, 2021.

CEO David P. Lamb commented, "We don't expect this quarter's level of reduced earnings to continue the whole year because commercial finance initiative will start contributing the remainder of the year with the FSW acquisition closed on April 1st. However, as noted in our last release, FYE 2022 earnings will be lower than FYE 2021 due to the loss of approximately net $5.4 million in PPP fees, margin compression as well as investment in new initiatives. It appears that interest rates are moving in the Bank's favor with the discount rate increase in March and further increases forecast over the next 18-24 months. Another new initiative that will contribute this year is our move into the commercial leasing business via a joint venture with a firm we have done business with for many years. We expect that business to grow both from our partner's efforts but also our existing clients who now have another option with us."

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has a Customer Experience Center in Rochester Hills, MI, with transactional services provided by Interactive Teller Machines only. In addition, Oxford Bank has business banking centers in Wixom, downtown Oxford and Flint, MI. 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.

Contact:


David P. Lamb, President & CEO

Phone:


(248) 628-2533

Fax:


(248) 969-7230



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$OXBC OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER 2021 OPERATING RESULTS
Press Release | 02/03/2022
OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER 2021 OPERATING RESULTS
PR Newswire

OXFORD, Mich., Feb. 3, 2022

OXFORD, Mich., Feb. 3, 2022 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced increased operating results for the fourth quarter ended December 31, 2021.

Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)

The Company's quarterly consolidated earnings for the three months ended December 31, 2021, were $1,697,000, or $0.75 per weighted average share compared to $2,257,000, or $0.98 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $10,555,000 or $4.63 per weighted average share for the twelve months ended December 31, 2021 compared to $7,001,000 or $3.05 per weighted average share for the twelve months ended December 31, 2020. CEO David P. Lamb commented "Net income in the fourth quarter continued to benefit from the loan forgiveness process which accelerates the amortization of the SBA's Payroll Protection Program ("PPP") fees into interest income. This was offset by a provision for loan losses of $400,000 in the fourth quarter to fully reserve for a problem loan. Management will continue to review and analyze appropriate level of reserves but based upon the ongoing positive trends we have seen and see today; we anticipate our provision expense will continue at lower levels in the coming quarters."

Total Assets of the Company increased to $750.9 million as of December 31, 2021 from $699.1 million at December 31, 2020. As of December 31, 2021, the SBA has forgiven $284 million of the Bank's PPP loans, $36 million in the last quarter. "Management is pleased to report that even with that level of pay-offs via PPP forgiveness, total loans only decreased by $126 million to $416.6 million at December 31, 2021 from $542.1 million at December 31, 2020. Overall, non-PPP loans were up 6.6% in a YTD over YTD comparison. Our teams in Business and Personal Banking had an outstanding year converting "new to the Bank" PPP clients into full loan and deposit relationships" added CEO David Lamb. Total deposits, bolstered by the PPP program and the new relationships obtained from that program, increased to $668.9 million at December 31, 2021 from $587.9 million at December 31, 2020. Management expects deposits to decline in the future as customers continue to draw down government stimulus and PPP funds although will continue to mitigate with growth in new full relationships.

CEO David Lamb noted, "Our growth strategy going forward is to develop a robust commercial finance business (factoring/asset-based lending) because of the opportunity to hire strong talent; ability to help far more small businesses; and the countercyclical characteristics of that business. We will also continue to grow the traditional bank as believe there is significant value between two business lines. As part of that strategy, the Corporation sold shares via a private placement in January primarily to investors believed important to our success in the commercial finance business. With recent stock repurchases, we expect dilution to be approximately 3% from the offering. Management believes the commercial finance business line will be accretive to earnings this year. However, we do expect earnings to be lower in 2022 due to much lower PPP income; investment in new market(s); and general margin compression that started with the pandemic. Management is confident that our investments and growth strategy will return us in 2023 and beyond to a long-term earnings growth rate in excess of the historic growth the last five years."

The Company's total Shareholders' equity increased to $62.4 million as of December 31, 2021, representing book value per share of $27.94, compared to total Shareholders' equity of $55.0 million, or $23.77 per share one year earlier. The subsidiary Bank's Tier 1 capital totaled $74.1 million as of December 31, 2021, or 17.3% of risk weighted assets compared to $53.3 million, or 13.9% of risk weighted assets as of December 31, 2020. The Company also completed its Private Placement in January of 2022, adding an additional $5.7 million to its capital, which will be used for future growth of the company.

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has a Customer Experience Center in Rochester Hills, MI with transactional services provided by Interactive Teller Machines only. In addition, Oxford Bank has business banking centers in Wixom, downtown Oxford and Flint, MI. 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.

Contact:

David P. Lamb, President & CEO

Phone:

(248) 628-2533

Fax:

(248) 969-7230

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OXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER 2021 OPERATING RESULTS

Oxford, Michigan – Oxford Bank Corporation (“the Company”) (OTC Bulletin Board: OXBC), the holding company for Oxford Bank (“the Bank”), today announced increased operating results for the third quarter ended September 30, 2021.

The Company’s quarterly consolidated earnings for the three months ended September 30, 2021, were $2,496,000, or $1.10 per weighted average share compared to $1,621,000, or $0.70 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $8,858,000 or $3.87 per weighted average share for the nine months ended September 30, 2021 compared to $4,750,000 or $2.07 per weighted average share for the nine months ended September 30, 2020.

CEO David P. Lamb commented “Net income in the third quarter continued to benefit from the loan forgiveness process which accelerates the amortization of the SBA’s Payroll Protection Program (“PPP”) fees which are recognized as interest income. The stabilizing and opening of the economy allowed the Bank to discontinue the provision to the loan loss reserves (ALLL) in the second quarter.

Management will continue to review and analyze appropriate level of reserves but based upon the ongoing positive trends we have seen and see today, we anticipate our provision expense will continue at lower levels in the coming quarters.”
Total Assets of the Company increased to $729.4 million as of September 30, 2021 from $691.1 million at December 31, 2020 and from $723.8 million at September 30, 2020. “The increase in assets this past
quarter was due to seasonal increases in deposits, and from our new business relationships. We do expect a decrease in our asset size as our customers continue to use the PPP loan proceeds for the purposes they
were intended for and ongoing forgiveness of those loans.” reported CEO Lamb. “We continue to see strong loan demand from the many new PPP only customers moving their primary relationship to Oxford Bank. Our sterling reputation from the PPP has resulted in more referrals from a broader group of centers of influence like CPAs and attorneys as well as new clients referring us to their associates. The “conversion” from PPP to new relationship didn’t happen by accident as the team decided the first day of the PPP that we would help everyone we could in exchange for their commitment to move their full relationship to us. The work to make that happen although not quite as much as originating the PPP loans
is equally hard and a tribute to engagement and quality of our team. “
As of September 30, 2021, the SBA has forgiven $248 million of the Bank’s PPP loans, $68 million in the last quarter. “Management is pleased to report that even with that level of pay-offs, total loans only decreased by $102 million to $459.4 million at September 30, 2021 from $561.2 million at September 30, 2020. Overall, non-PPP loans were up 13.6% in a YTD over YTD comparison.” Added CEO David
Lamb.

The Company paid off it’s PPP liquidity facility with the Federal Reserve in mid-July, 2021. Total deposits, bolstered by the PPP program and the new relationships obtained from that program, increased to $646.6 million at September 30, 2021 from $592.5 million at September 30, 2020, although we expect this to decline in the future to an extent, as customers continue to use the government stimulus funds of the PPP.

“As we announced on September 30th, I am pleased that Oxford Bank Corporation completed a ten-year subordinated debt offering with the first five years being fixed rate at 3.25%, which was tied for the
lowest offering rate in the state of Michigan on Bloomberg as of the time of the offering” noted CEO David Lamb. The proceeds will be used for general corporate purposes including investing in the growth
of the Bank.”

The Company’s total Shareholders’ equity increased to $62.8 million as of September 30, 2021, representing book value per share of $27.60, compared to total Shareholders’ equity of $52.6 million, or
$22.74 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $72.4 million as of September 30, 2021, or 16.8% of risk weighted assets compared to $51.0 million, or 13.6% of risk weighted assets as of September 30, 2020.


Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has a Customer Service Center in Rochester Hills with transactional services provided by Interactive Teller Machines only. In addition, Oxford Bank has business banking centers in Wixom, downtown Oxford and Flint, MI. 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.

https://www.oxfordbank.com/about-us/oxford-bank-news.html

$OXBC Oxford Bank Corporation Announces Completion of $16 Million Private Placement of Subordinated Notes
Press Release | 09/30/2021
Oxford Bank Corporation Announces Completion of $16 Million Private Placement of Subordinated Notes
PR Newswire

OXFORD, Mich., Sept. 30, 2021

OXFORD, Mich., Sept. 30, 2021 /PRNewswire/ -- Oxford Bank Corporation (the "Company") (OTC - OXBC) is pleased to announce that the Company has completed a private placement of $16 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2031 (the "Notes") to certain qualified institutional buyers and institutional accredited investors.

Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)

The Notes will initially bear interest at 3.25% per year, payable semi-annually in arrears. Beginning October 1, 2026 through the maturity date or earlier redemption, the interest rate will reset quarterly based on the then current Three-Month Term SOFR plus 245 basis points, payable quarterly in arrears. Also beginning on October 1, 2026 through maturity, the Notes may be redeemed in whole or in part, at the Company's option. The Notes will mature on October 1, 2031.

The Notes are structured to qualify as Tier 2 capital instruments for regulatory capital purposes. The Company intends to utilize the proceeds from the sale of the Notes for general corporate purposes, including investment in Oxford Bank, the Company's wholly-owned bank subsidiary.

Oxford Bank Corporation President & CEO David P. Lamb stated, "We are extremely pleased to have successfully completed this subordinated debt issuance in a relatively short time-frame and on such favorable terms." PNC FIG Advisory, part of PNC Capital Markets LLC, served as sole placement agent on the transaction. Pillar+Aught served as legal counsel to the Company and Tucker Ellis LLP served as legal counsel to the placement agent.

About Oxford Bank
Oxford Bank (the "Bank") is a subsidiary of Oxford Bank Corporation, a registered bank holding company. It is the oldest commercial bank in Oakland County, MI, and operates seven full-service offices, located in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has a Customer Service Center in Rochester Hills with transactional services provided by Interactive Teller Machines only. In addition, the Bank has business banking centers in Wixom, MI, and Flint, MI. 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.

Forward-Looking Statements
Statements made in this press release that are not historical facts are forward-looking statements. These forward-looking statements are not guarantees and involve risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Expectations and assumptions related to forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Therefore, there can be no assurance that the expected results contemplated in the forward-looking information will be achieved and should not be relied upon or regarded as the Company's express or implied representation that any strategy, objectives or other plans will be achieved. Forward-looking statements are not a guarantee of future performance or results, are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the information in the forward-looking statements and can change as a result of many possible events or factors, not all of which are known to us or in our control.

CONTACT: David P. Lamb
President & Chief Executive Officer
Phone: (248) 628-2533

Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)

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SOURCE Oxford Bank Corporation

$OXBC Oxford Bank Corporation Announces Appointment of Wendye Mingo to its Board of Directors
Press Release | 08/09/2021
Oxford Bank Corporation Announces Appointment of Wendye Mingo to its Board of Directors
PR Newswire

OXFORD, Mich., Aug. 9, 2021

OXFORD, Mich., Aug. 9, 2021 /PRNewswire/ -- Oxford Bank Corporation announced today that Wendye Mingo has joined its Board of Directors, effective August 1, 2021. Oxford Bank, a wholly-owned subsidiary of Oxford Bank, also elected Ms. Mingo to its Board of Directors. She is an experienced IT business leader who brings deep expertise in technology transformations, data center modernization, and negotiating infrastructure costs.

Wendye Mingo

Ms. Mingo, as the Managing Director of Information Technology for The Kresge Foundation, has demonstrated her passion to use information technology as a critical part of organizational change and development while first and foremost being a leader of people. Her initiatives in the technology front include meeting the rapidly evolving "now normal" for her organization; improving cybersecurity and leading numerous strategic initiatives to create effective information infrastructure.

David P. Lamb, president and CEO of Oxford Bank said, "We are thrilled to welcome Wendye to our Board of Directors not only for her technical expertise, but that she is personally committed to our culture principles of Accountability, Candor, Engagement, Performance and Transparency. Although the Bank has been a leader among community banks in customer facing technology, we believe her background and experiences will help us drive our business including technology to the next level."

Karen Mersino, Chairperson of the Corporation and Bank Board of Directors said, "We have long desired to add a Board member with technical expertise, as well as add new voices to our deliberations, which Wendye fits perfectly."

Ms. Mingo earned a Doctorate in Instructional Technology and an M.A. in Computer Science from Wayne State University. She also holds a B.A. in Computer Science from the University of Detroit. She is an alumna of the Leadership Detroit program – class of XLI. She is also a life member of Alpha Kappa Alpha Sorority, Inc., serves on the Board of Visitors for the College of Education at Wayne State University and on the board of the Detroit School for Digital Technology.

About Oxford Bank

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has a Customer Service Center in Rochester Hills with transactional services provided by Interactive Teller Machines only. In addition, Oxford Bank has business banking centers in Wixom and downtown Oxford and very soon we will be relocating our Owosso loan office to Flint, MI. 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.



Contact:

David P. Lamb, President & CEO

Phone:

(248) 628-2533

Fax:

(248) 969-7230



Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)

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OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2021 OPERATING RESULTS

OXFORD, Mich., April 28, 2021 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced record operating results for the first quarter ended March 31, 2021.

The Company's quarterly consolidated earnings for the three months ended March 31, 2021, were $3,088,000, or $1.35 per weighted average share compared to $1,387,000, or $0.61 per weighted average share for the same period one year ago.


Total Assets of the Company increased to $757.0 million as of March 31, 2021 from $691.1 million at December 31, 2020 and $513.6 million at March 31, 2020. "The increase in assets was due to the Bank's continued participation in the PPP program in 2021 resulting in the origination of an additional $96.9 million in SBA Paycheck Protection Program ("PPP") loans assisting 591 community members through the financial difficulties of the ongoing pandemic." reported CEO David P. Lamb. As of March 31, 2021, the SBA has forgiven $115 million of the PPP loans and those loans have been paid off so the Bank recognized the remaining income and expense associated with subject loans.

Net loans increased to $575.8 million at March 31, 2021 from $325.6 million at March 31, 2020. New PPP loans represented 69% of new loans with 31% new non-PPP commercial loans. Non-PPP loans were up 88% in a YTD over YTD comparison. The Company paid down its PPP liquidity facility with the Federal Reserve to $19.2 million as of March 31, 2021 and anticipates that the facility will be paid off during the second quarter 2021. Total deposits, bolstered by the PPP program and the new customers obtained during the PPP programs, increased to $675.8 million at March 31, 2021 from $462.6 million at March 31, 2020.

The Company's total Shareholders' equity increased to $56.7 million as of March 31, 2021, representing book value per share of $24.96, compared to total Shareholders' equity of $48.3 million, or $21.13 per share one year earlier. The subsidiary Bank's Tier 1 capital totaled $56.5 million as of March 31, 2021, or 14.3% of risk weighted assets compared to $47.5 million, or 13.0% of risk weighted assets as of March 31, 2020.

"Although the second round of PPP during the first quarter was another unqualified success for our team, management is just as proud of the team's superior performance originating new non-PPP business and personal relationships," reported David P. Lamb, President & CEO. "And I don't want to undersell our PPP performance as in a little over a year's time, our team closed almost 2,000 PPP loans totaling just under $350 million. Different than most of our competitors, our team decided we should directly originate the majority of the 2021 round of PPP requests instead of simply referring to a third party. We did refer some prospective clients to a third party (for a fee) due to balance sheet capacity constraints but that decision further solidified our brand of relationship with our existing and new customers again. Our reason for being is to help people and our team continues to demonstrate they fully live that philosophy."

Lamb continued "Net income in the first quarter continued to benefit from the loan forgiveness process which accelerates the amortization of the PPP fees. The PPP fees are included in interest income. The Bank also continues to provision to the ALLL because of the still high level of uncertainty, albeit at a lower level than in 2020. Management will continue to review and analyze appropriate level of reserves as asset quality metrics don't justify levels today. Based upon the continuation of the positive trends, we anticipate our provision expense will be lower in the coming quarters. We are definitely excited about the future subject to our typical banker reticence that the future holds significant challenges from margin compression to technology investments."

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Wixom, Owosso, and 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.

Contact:

David P. Lamb, President & CEO

Phone:

(248) 628-2533

Fax:

(248) 969-7230

SOURCE Oxford Bank Corporation


Related Links
www.oxfordbank.com

OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER 2020 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 fourth quarter and year ended December 31, 2020.

The Company’s quarterly consolidated earnings for the three months ended December 31, 2020, were $2,257,000, or $0.98 per weighted average share compared to $1,603,000, or $0.70 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $7,001,000 or $3.04 per weighted average share for the twelve months ended December 30, 2020 compared to $5,277,000 or $2.31 per weighted average share for the twelve months ended December 31, 2019.

Total Assets of the Company decreased from the prior quarter to $698.2 million as of December 31, 2020, as customers began receiving forgiveness payments from the SBA on their Paycheck Protection Program
(“PPP”) loans and the company paid down its Paycheck Protection Liquidity Facility with the Federal Reserve. This compared to $505.4 million as of December 31, 2019, representing a 38% increase yearover-year, owing to the Company’s participation in the SBA PPP program. The Company increased loans outstanding to $541 million at the end of December 2020 compared to $341 million a year earlier.

Deposit balances from customers are up 29% year-over-year and totaled $588 million as of December 31, 2020, compared to $456 million as of December 31, 2019. The increase in deposits was primarily the
result of the new customers the Bank gained as part of the PPP program in 2020.

The Company’s total stockholders’ equity increased to $54.9 million as of December 31, 2020, representing book value per share of $23.74, compared to total stockholders’ equity of $46.6 million, or
$20.37 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $53.3 million as of December 31, 2020, or 14.2% of risk weighted assets compared to $46.1 million, or 12.7% of risk
weighted assets as of December 31, 2019.

“In the fourth quarter, the forgiveness piece of the Paycheck Protection Program (“PPP”) loan portfolio accelerated compared to previous quarters” noted David Lamb, President and CEO. “During the fourth
quarter, the SBA forgave $35.7 million of the first round of PPP loans with the expectation that this will continue accelerating and largely conclude by YE 2021. We have also began participating in the 2021
round of PPP although we see significantly lower demand than the 2020 rounds. This appears to be the result of our customers having returned to a normalized level of activity, so they have limited or no need
for additional government assistance. Our long-term focus on diversification by industry has mitigated the impact because we are not significantly exposed to industries that have been materially damaged by the pandemic like sit down restaurants or hospitality”

Lamb continued “Net income in the fourth quarter benefitted from the loan forgiveness process which accelerates the amortization of the PPP fees. The PPP fees are included in interest income. The Bank also continues to provision to the ALLL because of the still high level of uncertainty, albeit at a lower level than earlier in the year.

Management will continue to review and analyze appropriate level of
reserves as asset quality metrics don’t justify levels today. Operating expenses continue to decline due to restructuring work over the past several years. as well as our team continues to work remotely to protect
our team and community. Our team is excited about the opportunities in 2021as there is more activity in non-PPP business lending. That being said, we fully realize the future challenges from margin compression and technology investments as well as continued economic uncertainty which could impact asset quality.”

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Wixom, Owosso, and 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.

https://www.oxfordbank.com/about-us/oxford-bank-news.html

OXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER 2020 OPERATING RESULTS

OXFORD, Mich., Oct. 28, 2020 /PRNewswire/ -- Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced profitable operating results for the third quarter and year-to-date period ended September 30, 2020.


Oxford Bank - Oxford, MI (PRNewsfoto/Oxford Bank Corporation)
The Company's quarterly consolidated earnings for the three months ended September 30, 2020, were $1,594,000, or $0.69 per weighted average share compared to $1,554,000, or $0.68 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $4,750,000 or $2.07 per weighted average share for the nine months ended September 30, 2020 compared to $3,660,000 or $1.60 per weighted average share for the nine months ended September 30, 2019.

Total Assets of the Company decreased from the prior quarter to $723.8 million as of September 30, 2020, as the company paid down its Paycheck Protection Liquidity Facility with the Federal Reserve. This compared to $476.9 million as of September 30, 2019, representing a 52% increase year-over-year, owing to the Company's participation in the SBA PPP program. The Company increased loans outstanding to $566 million at the end of September 2020 compared to $328 million a year earlier. Deposit balances from customers increased 38% year-over-year and totaled $593 million as of September 30, 2020, compared to $429 million as of September 30, 2019.

The Company's total stockholders' equity increased to $52.6 million as of September 30, 2020, representing book value per share of $22.7, compared to total stockholders' equity of $45.0 million, or $19.67 per share one year earlier. The subsidiary Bank's Tier 1 capital totaled $51.0 million as of September 30, 2020, or 14.5% of risk weighted assets compared to $44.7 million, or 11.9% of risk weighted assets as of September 30, 2019.

"In the third quarter, we began the transition towards the SBA forgiveness piece of the Paycheck Protection Program ("PPP") loan portfolio" noted David Lamb, President and CEO. "Due to our overwhelming success in helping over 1,300 businesses with the PPP, we partnered with an outside vendor to assist with processing the forgiveness applications. Leadership made that decision to ensure the significant value and goodwill created with our existing customers plus the approximately 800 new clients, was not lost due to a poor forgiveness experience at least the part we can control. In addition, we need to capitalize on the growth opportunity in a disciplined way so need our team engaged in their primary roles of growing relationships. There have been multiple changes to the rules and process of forgiveness so expect that burden, and recognizing unamortized fee income, will stretch into 2021."

Lamb continued "Net income in the third quarter benefitted by the amortization of the SBA origination fees on the PPP portfolio although offset somewhat by the reduced activity in our SBA and conventional business lending. The Bank also continues to provision to the ALLL because of the still high level of uncertainty. Management will continue to review and analyze appropriate level of reserves as asset quality metrics don't justify levels today. Operating expenses continue to decline due to work over the past several years as well as our team continues to work remotely where possible to continue to protect our team and customers from the pandemic affects as much as possible. Our team absolutely looks forward to the remainder of 2020 and 2021 with full knowledge that there are big challenges and uncertainty (not quantifiable today), looming around margin compression and asset quality."

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, Owosso, and 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.

https://www.oxfordbank.com/about-us/oxford-bank-news.html

Time stamp 10:33:59

Nice block

5,488 shares @ $19.25

OXFORD BANK CORPORATION ANNOUNCES
SECOND QUARTER 2020 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 second quarter and year-to-date period ending June 30, 2020.

The Company’s quarterly consolidated earnings for the three months ended June 30, 2020, were $1,769,000, or $0.77 per weighted average share compared to $1,191,000, or $0.52 per weighted average share for the same period one year ago. Year-to-date consolidated earnings were $3,156,000 or $1.38 per weighted average share for the six months ended June 30, 2020 compared to $2,106,000 or $0.92 per weighted average share for the six months ended June 30, 2019.

Total Assets of the Company grew to $751.2 million as of June 30, 2020, compared to $461.3 million as of June 30, 2019, representing a 62% increase year-over-year, owing to the company’s participation in the
SBA PPP program during the second quarter. The Company increased loans outstanding to $559 million at the end of June 2020 compared to $333 million a year earlier. Deposit balances from customers increased 44% year-over-year and totaled $600 million as of June 30, 2020, compared to $415 million as of June 30, 2019.

The Company’s total stockholders’ equity increased to $50.8 million as of June 30, 2020, representing book value per share of $22.21, compared to total stockholders’ equity of $43.3 million, or $18.91 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $49.3 million as of June 30, 2020, or 13.6% of risk weighted assets compared to $43.3 million or 12.2% of risk weighted assets as of June 30, 2019.

“The Board is extremely proud of the work that our team did in the second quarter of 2020 as we dealt with the full effects of the COVID-19 pandemic and the shutdown of the U.S. economy for most of the quarter. The Bank transitioned to remote working very smoothly because we have encouraged remote working for several years so that part was largely a non-event. At the same time, our investment in Interactive Teller Machines (“ITMS”) several years ago proved their worth as our customers could still bank one-on-one with a live teller in a safe manner for them and our team. This is also promising for our future as consumer behavior significantly changed to more convenient transaction methods like mobile
vs. in-lobby.”

“In the second quarter the team was “all-in” on the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”). As noted in past communications, we have strong SBA expertise in-house so combined with our previous investment in remote working, we were able to help over 1,300 small business in our community by providing $245 million in PPP loans. Our team recognized immediately that not only should we help our existing clients but there would be many non-clients who equally would need our help. We helped approximately 800 new business customers with the requirement that they open a business checking account and their commitment to moving their full relationship to us. Results to date have been promising with new clients largely meeting the relationship commitment. We believe this is happening because of their gratitude for our team working 12 to 16-hour days, seven days a week to help them and provided a great experience doing it. The $245 million in PPP loans were made over an eightweek time frame and represent almost 2 years of normal loan production. Again, the Board and myself could not be more proud of what the team did for our community”.
“As we look forward to the remainder of 2020 and 2021 there are no doubt big challenges looming, but uncertainty is too high to quantify adequately today. Like many small business-oriented banks, we are
not seeing issues yet because of the government programs to help borrowers. However, we do expect to see issues late 2020 and 2021 so the Bank will continue to provision at a heightened level.”

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, Owosso, and 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.

https://www.oxfordbank.com/about-us/oxford-bank-news.html

OXFORD BANK CORPORATION ANNOUNCES FIRST QUARTER 2020 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 and year-to-date period ending March 31, 2020.

The Company’s quarterly consolidated earnings for the three months and year-to-date period ended March 31, 2020, were $1,395,000, or $0.61 per weighted average share compared to $919,000, or $0.40 per weighted average share for the same period one year ago.

Total Assets of the Company grew to $513.5 million as of March 31, 2020, compared to $455.6 million as of March 31, 2019, representing a 12.7% increase year-over-year. The Company increased loans outstanding to $339.2 million at the end of March 2020 compared to $327.7 million a year earlier. Deposit balances from customers increased 12.3% year-over-year and totaled $462.6 million as of March 31, 2019, compared to $412.0 million as of March 31, 2019.

The Company’s total stockholders’ equity increased to $48.3 million as of March 31, 2020, representing book value per share of $21.13, compared to total stockholders’ equity of $41.6 million, or $18.16 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $47.6 million as of March 31, 2020, or 12.85% of risk weighted assets compared to $42.3 million or 12.0% of risk weighted assets as of March 31, 2019.

“In the first quarter of 2020, we began to see and feel the effects of the COVID-19 pandemic both economically and within our Company.” reported CEO David P. Lamb. “Interest rates fell faster than any time in recent history, which will affect our net interest margin in the coming quarters. The result of the unprecedented closing of the economy for over 45 days is not known, but it is easy to see it is going to cause significant issues for many small businesses, which of course, will impact us. Our biggest challenge this quarter was calculating the appropriate loan loss reserve (“ALLL”) allocation given this all happened the last two weeks of the quarter and opinions on impact vary widely. After careful analysis of predictions and our portfolio, management determined that the current 20% excess (approximately $750,000) in ALLL will be allocated entirely. We will continue to monitor and expect to build reserves by provisioning monthly beginning in April.”

“On the positive side, our Board is particularly pleased with how well the overall team came together to maximize assistance to our communities with the Payroll Protection Program (“PPP”) loans. After the first round of congressional funding, we originated 851 loans totaling $163 million with estimated fees of $5.5 million, which will be recognized over the life of the loans. To accomplish those strong results, our business and personal customer facing teams plus their critical support teams, worked 12 to 16 hour days, seven days a week during much of April.” noted Lamb and further stated “We opened over 700 business deposit accounts in roughly two weeks. We delivered top-notch service to our current customers and also developed more than 300 “new to us” small/midsize business clients whose banks or credit unions failed to execute at all. It isn’t much of a jump to see these new customers are serious about moving their relationship as many opened multiple accounts. The Company’s ultimate win after meeting our number one priority of helping our communities, is the long-term value creation from these new customers.”

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, Owosso, and 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.


https://www.oxfordbank.com/about-us/oxford-bank-news.html

OXFORD BANK CORPORATION ANNOUNCES FOURTH QUARTER 2019 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 fourth quarter and year-to-date period ended December 31, 2019.

The Company’s quarterly consolidated earnings for the three months ended December 30, 2019 were $1,545,000, or $0.67 per weighted average share compared to $931,000, or $0.41 per weighted average share for the same period one year ago. Year-to-date earnings as of December 31 were $5,276,000 or $2.31 per share for 2019 vs $3,997,000 or $1.75 for 2018.

Total Assets of the Company grew to $505.4 million as of December 31, 2019 compared to $457.4 million as of December 31, 2018, representing a 10.5% increase year-over-year.
The Company increased loans outstanding to $338.1 million at the end of December 2019 compared to $319.4 million a year earlier. Deposit balances from customers increased 9.9% year-over-year and totaled $456.0 million as of December 31, 2019 compared to $415.1 million as of December 31, 2018.

The Company’s total stockholders’ equity increased to $46.6 million as of December 31, 2019, representing book value per share of $20.37 compared to total stockholders’ equity of $40.3 million, or $17.61 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $46.1 million as of December 31, 2019, or 12.78% of risk weighted assets compared to $40.6 million or 11.83% of risk weighted assets as of December 31, 2018.

“Our significantly improved performance across the board is a direct result of our team’s outstanding engagement and focus. Our year over year revenue growth is highlighted by a 12.7% increase in noninterest income and 9.4% increase in net interest income. Noninterest income year over year fourth quarter was up 54.9% due to SBA gains and interest rate swap fees although reflects work done in the previous three quarters, too.” President and CEO David Lamb noted. He further added “Growth in our balance sheet led by deposits up 9.9% year over year continues to exemplify the incredible teamwork between Personal Banking and Business Banking teams.
Our loans grew less than desired however we focus on sustainability which starts with asset quality. Our team further shined in their hard work to create a more effective team which resulted in our salaries and employee benefits decreasing 2.5% year over year.
Noninterest expense outside of employee costs increased 9.6% year over year with ORE expenses and technology expenses showing the largest increases. The ORE expense was a one-time write-off since recovered January 2020, while technology increased to meet our customers’ experience expectations and data security needs. Declining interest rates in 2019 proved to be a challenge but we believe our long- term balance sheet management positions us as to continue to do well in the sustained low rate environment.”

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, Owosso, and 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.

https://www.oxfordbank.com/about-us/oxford-bank-news.html

OXFORD BANK QUARTER 4 RESULTS OUT


The Company’s quarterly consolidated earnings for the three months ended December 30, 2019 were
$1,545,000, or $0.67 per weighted average share compared to $931,000, or $0.41 per weighted average
share for the same period one year ago. Year-to-date earnings as of December 31 were $5,276,000 or
$2.31 per share for 2019 vs $3,997,000 or $1.75 for 2018.

OXFORD BANK CORPORATION ANNOUNCES THIRD QUARTER 2019 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 third quarter and year-to-date period ended September 30, 2019.

The Company’s quarterly consolidated earnings for the three months ended September 30, 2019 were $1,554,000, or $0.68 per weighted average share compared to $1,275,000, or $0.56 per weighted average share for the same period one year ago. Year-to-date earnings as of September 30 were $3,660,000 or $1.60 per share for 2019 vs $3,066,000 or $1.34 for 2018.

Total Assets of the Company grew to $476.9 million as of September 30, 2019 compared to $437.5 million as of September 30, 2018, representing a 9.0% increase year-over-year. The Company increased loans outstanding to $327.8 million at the end of September 2019 compared to $302.5 million a year earlier. Deposit balances from customers increased 8.1% year-over-year and totaled $428.9 million as of September 30, 2019 compared to $396.7 million as of September 30, 2018.

The Company’s total stockholders’ equity increased to $45.0 million as of September 30, 2019, representing book value per share of $19.67 compared to total stockholders’ equity of $39.1 million, or $17.08 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $44.7 million as of September 30, 2019, or 12.47% of risk weighted assets compared to $38.9 million or 12.31% of risk weighted assets as of September 30, 2018.

“Our third quarter results were positively impacted by an 11.6% increase in net interest income, combined with increased SBA gains versus last quarter and last year’s third quarter,” President and CEO David Lamb noted. He further added “We have continued to see growing income from our interest rate protection products and serves an important part of our focus on increasing the value of our relationships with our business clients. Our strong deposit growth across all customer segments is a testament to our Personal Banking and Business Banking teams working together so well. Noninterest expense was higher due to increased IT and other infrastructure costs, but during the year, we have restructured several business units to lower salaries and operating costs. This has started to be reflected in our year-to-date salaries and employee benefits. The interest rate environment continues to be challenging but believe our balance sheet management the past several years positions us as well as possible.”

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking
centers in Brighton, Farmington Hills, Owosso, and 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.

9/30/2019 call report

net income 3,731,000

vs.

9/30/2018 call report

net income 3,120,000

6/30/2019 call report

net income 2,151,000

vs.

6/30/2018 call report

net income 1,812,000

Looks like there might be a dividend declared too if I'm reading the report correctly.

9/30/2018 call report

net income 3,120,000

vs.

9/30/2017 call report

net income 2,075,000

2017 Annual report is up now-
https://www.oxfordbank.com/documents/2017%20Annual%20Report.pdf

12/31/2017 call report

net income $1,339,000

vs.

12/31/2016 call report

net income $1,884,000


This includes one time income tax adjustment for net deferred tax assets re-evaluation due to the new corporate tax rate of 21% vs. the old 35%.

Net INCOME BEFORE TAXES (compare apples to apples) $4,031,000 in 2017 vs. $2,791,000 in 2016.

Oxford Bank Corporation Announces Third Quarter 2017 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 third quarter and year-to-date period ending September 30, 2017.

The third quarter of 2017 has been an exciting time for Oxford Bank reported CEO David Lamb. “We completed an upgrade to our core system in August which will allow us to be more convenient for our customers and more productive internally. It will also allow us to offer more sophisticated treasury management products as we leverage our upgraded system in 2018.”

In September, we brought our 14th interactive teller machine on line at our Farmington Hills loan office, which after building modifications, will allow our customers to interact with our tellers remotely from 7:00 am to 8:00 pm on weekdays and 7:00 am to 5:00 pm on Saturdays.

Oxford Bank is also proud to be in the top ten SBA loan originators in the State of Michigan for the 12 months ending September 30, 2017. Our SBA expertise brings better solutions to our customers while creating significant fee income and gains on the sale from these loans.

The Company’s quarterly consolidated earnings for the three months ended September 30, 2017 totaled $1,052,000, or $0.45 per weighted average share compared to $701,000, or $0.31 per weighted average share during the third quarter of 2016. Earnings for the nine months ended September 30, 2017 totaled $2,023,000, or $0.88 per weighted average share, compared to $1,368,000, or $0.61 per weighted average share for the first nine months of 2016.

Total Assets of the Company were $374.3 million as of September 30, 2017 compared to $359.2 million as of September 30, 2016, representing a 4.2% increase year-over-year. The Company had loans outstanding totaling $284 million at the end of September 2017 compared to $248 million a year earlier. Deposit balances from customers increased nearly 4% year-over-year and totaled nearly $336 million as of September 30, 2017 compared to $323 million as of September 30, 2016.

The Company had total stockholders’ equity of $36.6 million as of September 30, 2017, representing book value per share of $16.00, compared to total stockholders’ equity of $34.2 million, or $15.14 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $36.9 million as of September 30, 2017, or 10.04% of average total assets compared to $30.2 million or 8.78% of average total assets as of September 30, 2016.



Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, and 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.

https://www.oxfordbank.com/about-us/oxford-bank-news.html

9/30/2017 call report

net income 2,075,000

vs.

9/30/2016 call report

net income 1,419,000

Oxford Bank Corporation Announces Second Quarter 2017 Operating Results

(August 1, 2017) 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 second quarter and year-todate period ending June 30, 2017.

The Company’s quarterly consolidated earnings for the three months ended June 30, 2017 totaled $417,000, or $0.18 per weighted average share compared to $181,000, or $0.08 per weighted average share during the second quarter of 2016. Earnings for the six months ended June 30, 2017 totaled $1,000,000, or $0.44 per weighted average share, compared to $667,000, or $0.30 per weighted average share for the first six months of 2016.

Total Assets of the Company were $359.3 million as of June 30, 2017 compared to $327.6 million as of June 30, 2016, representing a 9.7% increase year-over-year. The Company had loans outstanding totaling $271 million at the end of June 2017 compared to $240 million a year earlier. Deposit balances from customers increased nearly 10% year-over-year and totaled $322 million as of June 30, 2017 compared to $293 million as of June 30, 2016.

The Company had total stockholders’ equity of $35.6 million as of June 30, 2017, representing book value per share of $15.57, compared to total stockholders’ equity of $33.5 million, or $14.81 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $32.8 million as of June 30, 2017, or 9.47% of average total assets compared to $29.2 million or 9.07% of average total assets as of June 30, 2016.

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. It also manages business banking centers in Brighton, Farmington Hills, and 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.
2 | Page


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.
About Oxford Bank Oxford Bank 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 Mortgage Center and Business Solutions Center both located in 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. Member FDIC.
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.


https://www.oxfordbank.com/about-us/oxford-bank-news.html

6/30/2017 call report

$1,022 profit

vs.

6/30/2016 call report

$ 719,000 profit

Oxford Bank Corporation Announces First Quarter 2017 Operating Results

(April 26, 2017) 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 2017.

The Company’s quarterly consolidated earnings for the three months ended March 31, 2017 totaled $583,000, or $0.25 per weighted average share compared to $484,000, or $0.22 per weighted average share during the first quarter of 2016.
The change, representing a 20% increase, is primarily the result of higher loan balances and improved yields on both loans and invested assets. Total interest income increased $685,000, or 24% to $3.5 million for the first three months of 2017 compared to the first three months of 2016.

Total Assets of the Company were $350.9 million as of March 31, 2017 compared to $328.0 million as of March 31, 2016, representing a 7% increase year-over-year. The Company had loans outstanding totaling $277 million at the end of March 2017 compared to $223 million a year earlier. Deposit balances from customers increased 7% year-over-year and totaled $314.8 million as of March 31, 2017 compared to $294.2 million as of March 31, 2016.

The Company had total equity of $35.1 million as of March 31, 2017, representing book value per share of $15.33, compared to total equity of $32.8 million, or $15.18 per share one year earlier. The subsidiary Bank’s Tier 1 capital totaled $31.6 million as of March 31, 2017, or 9.21% of average total assets compared to $29.1 million or 9.04% of average total assets as of March 31, 2016.

About Oxford Bank Oxford Bank 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 Mortgage Center and Business Solutions Center both located in 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. Member FDIC.

2 | P a g e

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.

FOR IMMEDIATE RELEASE Contact: David P. Lamb President and CEO Phone: 248.628.2533

https://www.oxfordbank.com/about-us/oxford-bank-news.html

Annual report 2016

"I won’t spend too much space in this letter about our financial results, other than to note that Net Income increased by 23.9 percent, with biggest revenue gains being interest income up 17 percent and noninterest income up by 73 percent. From a balance sheet perspective, Other Real Estate Owned decreased by 68 percent and Net Loans increased by 25 percent. Total assets increased nine percent because we basically invested part of our excess liquidity into loans. We expect similar growth in 2017, although we will have to substantially increase our deposit base to hit our asset growth targets."

David P. Lamb President, Chief Executive Officer Oxford Bank Corporation


Net Income
2016 $1,885,000
2015 $1,520,000

Book Value
2016 $15.04
2015 $14.77

https://www.oxfordbank.com/about-us/oxford-bank-news.html

12/31/2016 call report

net income 1,884,000

vs.

12/31/2015 call report

net income 1,521,000

Oxford Bank Corporation Announces Third Quarter 2016 Operating Results

(Oct. 27, 2016) 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 third quarter and the nine months ended September 30, 2016.

The Company’s quarterly consolidated earnings for the three months ended September 30, 2016 totaled $609,000, or $0.31 per weighted average share compared to $307,000, or $0.18 per weighted average share during the third quarter of 2015.

Earnings for the nine months ended September 30, 2016 totaled $1,359,000, or $0.61 per weighted average share, compared to $1,312,000, or $0.86 per weighted average share for the first nine months of 2015.

The Bank’s Tier 1 capital totaled $30,021,000 as of September 30, 2016, or 8.73% of average total assets compared to $23,696,000, or 7.62% as of September 30, 2015. The Company has continued to gradually build capital through earnings, capital contributions, and strategic balance sheet management, with consolidated assets totaling just over $359 million at September 30, 2016 compared to $304 million one year earlier.

file:///C:/Users/phili/AppData/Local/Microsoft/Windows/INetCache/IE/IPRMB07M/Oxford%20Bank%20Announces%20third%20quarter%202016%20operating%20results.pdf

9/30/2016 call report

net income 1,419,000

vs.

9/30/2015 call report

net income 1,306,000

Is there some news today to explain the spike? Not seeing anything out there.

OXBC $9.85

2015 annual report

https://www.oxfordbank.com/assets/files/n1lHR0MT/2016/03/15/Oxford%20Bank%20Corporation%202015%20Annual%20Report-Final.pdf

O/S
2013 1,156,690
2014 1,363,940
2015 2,162,865

book value
2013 $13.22
2014 $17.72
2015 $14.77

Net Income BEFORE taxes
2013 $563,000
2014 $911,000
2015 $2,191,000

Net Income
2013 $1,418,000
2014 $7,251,000
2015 $1,520,000

2014 Net Income includes $6+ Million reversal of TDA. Management successfully raised capital & adressed NPA. Next step should be growth in loan & deposits...

Total Deposits
2014 $237,115,000
2015 $285,566,000

Loans (net of ALL)
2014 $201,188,000
2015 $208,928,000

OREO down to $3,025,000 (2015) from $3,846,000 (2014) is another solid improvement! Time for stronger loan growth :)

OXBC 2015 letter to shareholders

Dear Shareholder:

Clearly, 2015 was the year that Oxford Bank Corporation turned the corner from operating in “work-out” mode to having the ability to focus on growing our business.
The most important element allowing us to focus on growth was the Corporation’s substantial completion of the 2014 capital raise during the fourth quarter of the year.
The increase in the Corporation’s capital ratio, as well as other factors, allowed our regulatory stakeholders to terminate the Consent Agreement last summer. As you can imagine, that was a real milestone achievement that would not have happened without
the seven years of hard work and difficult decisions made by your Board of Directors,my predecessor, Jim Bess, and the bank’s team of employees. Please join me in congratulating and extending our appreciation to them for affording all of us this new opportunity for growth.

Our 2015 financial results reflect the Corporation’s continued positive trend. The Corporation’s pre-tax earnings per share (EPS) grew 75% from 2014’s pre-tax EPS of $0.77 to a pre-tax EPS of $1.35 this year. As you may recall, over $6 million of deferred tax assets were recovered in 2014 bringing after-tax EPS to $6.11 as compared to $0.93 in 2015. From a balance sheet perspective, non-performing assets continue to decline to roughly that of our industry’s peer group’s average while total assets were up 21%. Though we are pleased with such positive results, the team here believes we can do much better in raising actual returns while improving our risk profile. To overcome almost a decade of deferred spending, investments were made in 2015, which will continue into 2016. With the right people in place to significantly grow the Corporation, we believe the Corporation will continue positive growth trends in its 2016 earnings and balance sheet.

Your Board and executive leadership team intend to aggressively grow the Corporation while the opportunity created by continued mergers in the banking industry exists. We have the ability to
add high value employees and clients which will position us to grow under a model that stresses sustainability for the long term. Sustainability is a much overused buzz word but works here because it describes both better risk management and higher returns. Higher returns are critical to our longterm plan as better risk outcomes are unachievable without them. We believe that our business model, which is focused on relationship creation, can yield the Corporation higher returns at lower risk than in the past. To borrow a quote from one of my friends, we have a “simple but not easy” plan.

In a very broad overview, our strategy is to develop valuable employees capable of creating strong relationships with customers which will lead to above-average results for our stakeholders. To achieve this, we have focused our recruiting efforts on high performing relationship managers and leaders to assist with developing new team members. For our business banking group, the team is focused on commercial/industrial companies where the relationship building opportunity is much stronger than with investment real estate-focused borrowers. We have supported our relationship focus with new leaders including those with an expertise in Small Business Administration lending and a best-in-class life of loan process. Our retail team is engaged in our brand of making life more convenient for our customers through a combination of deploying technology for making routine transactions and providing personal advice-based service to fulfill any other of our customers’ financial needs. In short, we believe the leadership team and infrastructure will be completely in place to be “Delivering Value. For Life.” in 2016 and beyond. Thank you for your continuing commitment as an owner of the Corporation, and please visit me in Oxford when you have an opportunity.


David Lamb
President and Chief Executive Officer
Oxford Bank Corporation

https://www.oxfordbank.com/assets/files/n1lHR0MT/2016/03/15/Oxford%20Bank%20Corporation%202015%20Annual%20Report-Final.pdf

No problem. Got an email from my brokerage with notice of the annual meeting, linking me here- https://www.oxfordbank.com/2016-annual-meeting .

Thanks!

I checked and don't see the report on their website? Only today's PR about Jason Howell joining the bank.

How were you able to retrieve the report ? Through the old 2014 path and switching dates?

Thanks anyway ;)

Annual report is up-
https://www.oxfordbank.com/assets/files/n1lHR0MT/2016/03/15/Oxford%20Bank%20Corporation%202015%20Annual%20Report-Final.pdf

OXBC $9.30

call report 2015 vs. 2014 showed improved Net Income of $1,521,000 vs $1,471,000. 2014 had an additional gain of $6,340,000 due to the realization of DTA.

call report 9/30/2015 showed under bank equity stock sale item line of 2,714,000 which showed 6,571,000 for 12/31/2015 which reflects the successful capital raising efforts management discussed late 2014/early 2015. Management had mentioned a "lead investor" to invest an additional $5 Million, which was supposed to close early 2015 ( I believe this shows it closed end of 2015)

Important to realize the capital raising efforts were successful and the new capital ratios for Oxford Bank are well above "well capilized" tresholds. The all important ratios as of 12/31/2015:
Common equity tier 1 ratio 12.54%
Tier 1 capital ratio 12.54%
Total capital ratio 13.81%
Tier 1 leverage ratio 9.12%

The capital increase will be reflected in additional O/S count which was 1,685,290 as of 9/30/2015 and will increase for year end (estimate around 475,000 depending on capital raise terms). The increased share count won't make EPS YoY comparision look too pretty so it's more important to focus on the total net income/earnings amounts, which are improving YoY.

Book value of $16.63 as of 9/30/2015 remains to be WELL above current market prices and OXBC remains profitable qtr. after qtr.

Waiting for the official 2015 year end results.

good luck

New report is up-

https://cdr.ffiec.gov/public/Reports/UbprReport.aspx?rptCycleIds=86%2c81%2c76%2c72%2c67&rptid=283&idrssd=448040&peerGroupType=&supplemental=

OXFORD BANK CORPORATION ANNOUNCES
THIRD 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 third quarter of 2015.

The Company’s quarterly consolidated earnings for the three months ended September 30, 2015 totaled $307,000, or $0.18 per weighted average share compared to $319,000, or $0.27 per weighted average share during the third quarter of 2014. The Company has maintained continuous profitability for the last 20 quarters. Earnings for the nine months ended September 30, 2015 totaled $1,312,000, or $0.86 per weighted average share, compared to $1,250,000, or $1.03 per weighted average share for the first nine months of 2014.

The Bank’s Tier 1 capital totals $23,696,000 as of September 30, 2015, or 7.62% of average total assets compared to $17,074,000, or 6.19% as of September 30, 2014. 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 $4,208,800 through September 30, 2015.

https://www.oxfordbank.com/about-us/press-releases

6/30/2015

profit $997,000

includes $380,000 income tax line item

OXBC $8.59

2014 annual report

http://www.oxfordbank.com/2014annualreport/2014_AnnualReport.pdf

O/S
2013 1,156,690
2014 1,363,940

book value
2013 $13.22
2014 $17.72

Net Income BEFORE taxes
2013 $563,000
2014 $911,000

Net Income
2013 $1,418,000
2014 $7,251,000

Net Income 1st Qtr of 2015 $647,000

Obviously 2014 results include the $6,340,000 tax refund but even Net Income Before taxes shows a nice improvement from 2013. Another $5,000,000 in additional new capital expected from a lead investor brings confidence.

EPS 3/31/2015 of $0.47 annualized would be EPS $1.88 or about forward PE of 4.5.

OXBC has been agressive in write downs of NPA's and reducing OREO at a brisk clip. The next couple quarters should show management's ability of growth excecution vs. NPA reduction. Still a rough diamond here that should start to shine soon, IMO

good luck!

2014 annual letter to shareholders

Dear Shareholder:

Oxford Bank Corporation’s financial condition has continued to improve during 2014 bolstered by a variety of sources
including elimination of many problem assets, improved earnings, a one-time increase in net tax assets, and investor
capital contributions. The Corporation’s bank subsidiary (“the Bank”) once again took aggressive steps to clear out
bank-owned properties during 2014, writing down carrying values by approximately $420,000 at year-end, compared
to $1.0 million during 2013, in an attempt to expedite property sales. These efforts proved to be successful as the Bank
managed to sell approximately 35 properties during 2014 with net book values totaling over $3.4 million.

The Company’s pretax earnings totaled $911,000 during 2014 compared to $563,000 during 2013, or $0.77 and $0.49
per weighted average share outstanding, respectively. During 2014, the Company was able to recover the majority of
its deferred tax asset totaling approximately $6 million, as an adjustment to net earnings. The resulting net earnings
after deferred tax asset and other tax recoveries totaled $7.3 million, or $6.11 per weighted average share during 2014
compared to $1.1 million, or $1.23 per weighted average share during 2013.

The Company has begun to achieve results from its ongoing capital raising efforts. Through the end of 2014, the
Company had raised $1,658,000 in new capital from the investment community and has raised a total of $1,828,000
through March 2015. As of this writing, the Bank requires less than $1 million to reach its Tier 1 Capital-to-Asset Ratio
goal of 8%. In addition to the capital already raised, the Company has entered into a contractual relationship with a lead
investor who is expected to contribute an additional $5 million in new capital. This new capital is expected to increase
the Bank’s total Tier 1 Capital to over $25 million, and the Tier 1 Capital-to-Asset Ratio to over 9.5% during the early part
of 2015. These numbers are substantially improved from the Bank’s low of $7.1 million, or 2.4% as of the end of the third
quarter of 2010.

Non-Performing Assets (NPAs) have been reduced from a high of $27.6 million in 2009 to $9.0 million in 2013, and now
stands at $5.8 million at the end of 2014. Other Real Estate Owned (OREO), a part of the NPL total, has been reduced
from a high of $13.9 million at year-end 2010 to $7.6 million at year-end 2013 to $3.8 million at year-end 2014. Also
during 2014, the Bank was successful in extinguishing the IRS audit as well as settling amounts in connection with
residential mortgages sold during 1998 through 2006. Total settlements amounted to less than what had previously
been recorded to cover potential losses from these disputes.

As the Company begins to look beyond the challenges of the past, the Bank continues to upgrade its products and
its operations. Plans are underway for the Bank to improve its electronic delivery capabilities in order to provide a
higher level of service for its customers. In addition, the Bank is making plans to refurbish and upgrade various banking
centers within its branch network and hopes to have the majority of its physical improvements accomplished by the
end of 2015. All of these activities are, of course, expected to be achieved while continuing to maintain steady or
improving profitability in 2015.

http://www.oxfordbank.com/2014annualreport/2014_AnnualReport.pdf

Q1 Earnings PR-

http://www.oxfordbank.com/prArticle.cfm?id=2094

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.

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.

http://www.oxfordbank.com/ABOUTUS-pressreleases.cfm

call report 3/31/2015

profit $632,000

OXFORD BANK CORPORATION ANNOUNCES APPOINTMENT OF NEW PRESIDENT AND CEO


http://www.oxfordbank.com/ABOUTUS-pressreleases.cfm

Oxford Bank Corporation (the “Company”) and its wholly-owned subsidiary Oxford Bank (“Oxford Bank”) announced today that they have retained David P. Lamb, age 52, as President and CEO of the Company and the Bank. Mr. Lamb has extensive experience, over a 30 year career, in the banking industry. Most recently, since 2008 Mr. Lamb has been President and CEO of Hantz Holdings, Inc. and Hantz Bank, Southfield, Michigan. Prior to joining Hantz Bank in 2008 Mr. Lamb was a Senior Vice President of Fifth Third Bank.
Oxford Bank’s Board Chair Karen Mersino said, “After a rigorous search the board selected Dave as the best candidate to lead the Bank in its next chapter of continuing improvement and return to normal profitability and growth.” Ms. Mersino also stated, “Our President and CEO Jim Bess has led the Bank extremely capably since becoming President and CEO during 2009 at the height of the financial and banking crisis. We have been fortunate to have a leader of Jim’s experience and caliber during some of our most challenging years at the Bank. The Board extends its heartfelt thanks to Jim on behalf of all of the shareholders, employees and Oxford community for his steadfast leadership and guidance in bringing the Bank to its current substantially improved financial health and profitability.”

“I am truly invigorated by the opportunity at Oxford Bank to serve the community by helping our clients reach their goals. With our continued improved financial strength, I believe that Oxford Bank will be the best choice for families and businesses.” said Lamb. He added, “As the oldest bank in Oakland County, Oxford Bank has an enviable history as the place people turned to for financial services help and we look forward to earning that relationship again. Our daily goal will be to deliver a high value relationship for our customers and communities that is better than any alternative.” Mr. Lamb is expected to start with Oxford Bank on May 1, 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.

regarding the following statement from the 2013 annual report

"also, 2013 annual report "letter to shareholders" notes, "the Bank also expects to be able to recapture the remaining portion of its Deferred Tax Asset (DTA) totaling approximately $6.3 million by Dec. 31, 2014, which will increase the book value per share of stock to over $20.00 per share. "


there is a $6,340,000 tax credit showing up in the 12/31/2014 call report posted 1/29/2015. (listed in the Income Statement)
https://cdr.ffiec.gov/Public/ViewFacsimileDirect.aspx?ds=call&idType=fdiccert&id=9719&date=12312014

expect OXBC 2014 annual report to state these important achievements of compliance with regulatory capital levels again and the improved book value.

Thank you for posting!

OXBC $8.85

historical data overview
source: http://www.oxfordbank.com/ABOUTUS-annualreport2010.cfm

EPS
2005 $ 3.45
2006 $ 2.51
2007 $ (4.87)
2008 $ (17.47)
2009 $ (6.54)
2010 $ (2.22)
2011 $ 3.49
2012 $ 2.43
2013 $ 1.23
Sept 2014 $ 1.03

NPA
2005 $ 4,405,000
2006 $ 17,156,000
2007 $ 29,656,000
2008 $ 22,281,000
2009 $ 27,605,000
2010 $ 24,048,000
2011 $ 17,656,000
2012 $ 14,067,000
2013 $ 8,971,000
Sept 2014 $ 6,888,000

BV
2005 $ 37.20
2006 $ 38.98
2007 $ 32.62
2008 $ 15.42
2009 $ 11.52
2010 $ 6.06
2011 $ 9.56
2012 $ 11.98
2013 $ 13.22
Sept 2014 $ 14.01

also, 2013 annual report "letter to shareholders" notes, "the Bank also expects to be able to recapture the remaining portion of its Deferred Tax Asset (DTA) totaling approximately $6.3 million by Dec. 31, 2014, which will increase the book value per share of stock to over $20.00 per share.

as of Sept 2014 the outstanding shares increased by plus 56,250 to 1,212,940 total shares. The recent private offering raised total of $ 3,059,200 (depending on offering price it will increase the outstanding share count accordingly).

The Bank’s Tier 1 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. As of Sept 2014 Tier 1 capital was $17.1 million.

Tier 1 capital increased by about $4.5 million from Sept2014 to March2015, which deducting $3,059,200 from the private placement proceeds leaves about $1.440,000 gap. Best case scenario that represents the net income for 2 qtrs (4th 2014 and 1st 2015) but I would suspect a tax credit to be expected, IMO.

Still OXBC has "earned" its way out of the financial crisis and the consent order should be lifted within the next 2-3 qtrs. The deposits are stable and total assets has stabilized as well.

Current market value represents about $5 or 35% discount to stated book value. The 2014 annual report should be posted shortly...

good luck

OXBC $8.85

http://www.oxfordbank.com/ABOUTUS-pressreleases.cfm

April 08, 2015

OXFORD BANK CORPORATION ANNOUNCES TIER 1 CAPITAL MILESTONE


Oxford, Michigan – Oxford Bank Corporation (“the Company”) (OTC Bulletin Board: OXBC), the holding company for Oxford Bank (“the Bank”), today announced that the Bank has achieved a Tier 1 Capital to average asset ratio exceeding 8%. This achievement marks the first time since December 2007 that the Bank has met this “well capitalized” level.
Oxford Bank’s President and CEO Jim Bess said, “I am very pleased to report to you that after six years of concentrated, dedicated effort, the Bank has been able to reach and exceed the minimum 8% Tier 1 Capital/Asset Ratio mandated under the Order to Cease and Desist (C&D) that was entered into May 28, 2008.”

The Bank’s Tier 1 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. “This is a milestone event that will usher-in the beginning of a bright new future for Oxford Bank, its shareholders and stakeholders,” said Mr. Bess.

Bank management and directors view this development with optimism and hope that the Bank’s well capitalized position will allow it to expand customer relationships and product offerings. “Oxford Bank customers have been the unsung heroes in the Bank’s turnaround,” said Mr. Bess. “They have been at our side during the good times and the bad and we hope that the Bank’s new capital position will allow us to expand our superior customer service in our hometown communities.”

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.

3rd qtr 2014

Made $0.26 per share

http://www.oxfordbank.com/ABOUTUS-pressreleases.cfm