Ottawa Bancorp, Inc. Announces 2025 First Quarter Results and Approval of Stock Repurchase Program

OTTAWA, Ill., April 24, 2025 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (the “Company”) (OTCQX: OTTW), the holding company for OSB Community Bank (the “Bank”), announced net income of $0.4 million, or $0.19 per basic and diluted common share, for the three months ended March 31, 2025, compared to net income of $0.3 million, or $0.10 per basic and diluted common share, for the three months ended March 31, 2024. The loan portfolio, net of allowance, decreased to $295.1 million as of March 31, 2025 from $301.7 million as of December 31, 2024 as originations were lower than payments and payoffs. Non-performing loans decreased to $4.1 million at March 31, 2025 from $4.8 million at both December 31, 2024. This was due to the substantial resolution of the multi-loan commercial relationship originally identified as impaired in the third quarter of 2022. Thus, the ratio of non-performing loans to gross loans decreased from 1.58% at December 31, 2024 to 1.36% at March 31, 2025.