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Forum List » Business News and Headlines SEC Filings, Earing Reports, Press Releases  
Oak Ridge Financial Services Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 14, 2012 04:25PM
Oak Ridge Financial Services Inc. (BKOR) filed Quarterly Report for the period ended 2012-06-30. Highlight of Business Operations:Interest income decreased $425 thousand or 9.7% for the three months ended June 30, 2012 compared to the same three months of 2011. The decrease for the three months ended June 30, 2012 is primarily due to decreases on rates earned on these assets. The yield on average earning assets decreased 58 basis points for the three months ending June 30, 2012 to 4.70% from the same period in 2011. Management attributes the decrease in the yield on our earning assets to the decline in offering rates on new and renewed loans, as well as a decrease in the yield on investment securities.Interest income decreased $709 thousand or 8.0% for the six months ended June 30, 2012 compared to the same six months of 2011. The decrease for the six months ended June 30, 2012 is primarily due to decreases on rates earned on these assets. The yield on average earning assets decreased 52 basis points for the six months ending June 30, 2012 to 4.82% from the same period in 2011. Management attributes the decrease in the yield on our earning assets to the decline in offering rates on new and renewed loans, as well as a decrease in the yield on investment securities.
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