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) |
Net Income |
$1.0 million (2008) |
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 |
Corporate Website |
|
Executive Compensation |
No federal contracts located.
Fourth Quarter 2008
No lobbying reports located.
Center for Responsive Politics
No related articles located.
Last updated June 4, 2009
Get Social