Oak Ridge Financial Services, Inc. Ranked in the Top 200 Community Banks and… | New

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OAK RIDGE, NC, June 07, 2022 (GLOBE NEWSWIRE) — Oak Ridge Financial Services, Inc. (“Oak Ridge”; the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced that he was nominated for American banker from Top 200 Publicly Traded Community Banks and Thrifts for 2021 magazine. The ranking is based on a company’s three-year average return on equity (“ROAE”) to December 31, 2021. ROAE is used by many investors to analyze company performance. This is the sixth consecutive year that the Society has been on the prestigious list. Oak Ridge’s three-year average ROAE for 2019-21 was 11.76%, and its ROAE for the year ended December 31, 2021 was 16.24%.

“It is an incredible honor to be named to American Banker’s Top 200 Community and Savings Banks list for the sixth consecutive year,” said Tom Wayne, Chief Executive Officer and Chief Financial Officer. “We are proud of the talented team of professionals who have contributed to the remarkable success we have had in the communities we serve.

American banker published the ranking as part of its May 2022 issue.

About Oak Ridge Financial Services, Inc. and Bank of Oak Ridge

At Bank of Oak Ridge, we take pride in knowing your name when you walk through our door. Whether in person or through our digital offerings, managing your financial well-being is simple, safe and convenient. We are the oldest employee-owned community bank in the Triad and have served community members, local businesses and non-profit organizations since 2000. Learn more about what makes Bank of Oak Ridge the Triad Community Bank by visiting any of our locations in Greensboro, High Point, Summerfield and Oak Ridge.

Oak Ridge Financial Services, Inc. (OTC Pink: BKOR) is the holding company of Bank of Oak Ridge. The Bank of Oak Ridge is a member of the FDIC and an Equal Housing Lender.

Awards and honors | Best Triad Bank | Triad’s Best Workplace Finalist | 2016 Better Business Bureau Torch Award for Business Ethics | Triad’s Healthiest Employer Winner | American Banker’s Top 200 Community Banks and Thrift Stores List

Business and Personal Banking | Mobile and online banking services | Global ATM | Debit, Credit + Rewards | Chequing, Savings and Money Market | Loans + SBA | Mortgage | Insurance | Wealth management

Let’s talk | 336.644.9944 | www.BankofOakRidge.com | Extended hours at all Triad locations

Forward-looking information ThisPress releasecontains certain forward-looking statements regarding the financial condition, results of operations and business of the Company. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of the Company’s management and on information available to management at the time such information was prepared. These statements can be identifiedby the use ofwords such as “expect”, “anticipate”, “estimate” and “believe”, variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements becausea number ofimportant factors could cause actual results to differ materially from those indicated in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, (1) competition in the Company’s markets, (2) changes in the interest rate environment, ( 3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, deterioration in credit quality and possible reduced ability to collect loans, (4) legislative changes or regulations, including changes in accounting standards, (5) material changes in the federal and state legal framework and regulatory environment and tax laws, and (6) the impact of changes in policies, laws, rules and regulations monetary and fiscal. The Company assumes no obligation to update any forward-looking statements.

Contact: Tom Wayne, CEO and CFO Phone: 336.644.9944

Copyright 2022 GlobeNewswire, Inc.

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