Oregon banks report profit increases

Oregon banks report profit increases

Florence-based Siuslaw Financial Group and Eugene-based Summit Bank announced double-digit profit increases.

The increase in profits is primarily due to reducing the money allocated for future loan losses and to additional non-interest income, [Siuslaw] CEO Johan Mehlum said.

Summit Bank said it increased profits by “substantially growing its loan portfolio, and increasing its net interest margin.”

Read more at The Register-Guard.

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