Bailout Bank Bio: Oak Ridge Financial

Jun 4, 2009 | 2 min read | Print Article

Oak Ridge Financial Services, Inc. operates as the holding company for Bank of Oak Ridge that provides commercial banking services primarily in the communities of Oak Ridge, Summerfield, and Greensboro in Guilford County, North Carolina. It primarily engages in generating deposits and originating loans. The company’s deposit products include checking accounts, demand accounts, savings accounts, money market accounts, time deposits, and certificates of deposit. Its loan portfolio comprises commercial mortgage loans; construction loans; commercial loans, including secured loans for working capital, expansionand , other business purposes; consumer loans comprising automobile loans, boat and recreational vehicle financing, home improvement loans, and other secured and unsecured personal loans; home equity lines of credit; and residential real estate loans. Oak Ridge Financial Services also offers financial planning services and sells investment products, including mutual funds, equities, and fixed and variable annuities, as well as offers courier services. As of March 31, 2008, it operated five branches. The company was founded in 2000 and is headquartered in Oak Ridge, North Carolina.

In December the company began participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $7.7 million from Treasury in exchange for preferred stock.

Federal Equity Investment	$7.7 million
Total Revenue	$21.4 million (2008) $19.1 million (2007)
Net Income	$1.0 million (2008) $1.0 million (2007)
Number of Employees	73
Corporate Headquarters	Oak Ridge, North Carolina
Business Sector	Banking
Officers and Directors	Black, Ronald, President, Chief Executive Officer, Director Boike, Douglas, Chairman of the Board Other Officers and Directors
Corporate Website	www.bankofoakridge.com
Executive Compensation	Oak Ridge Financial