Bank of Oak Ridge appoints Paul Fedorkowicz to Board of Directors. MWN-AI** Summary. On July 24, 2026, Oak Ridge Financial Services, Inc., the parent company of Bank of Oak Ridge, announced the appointment of Paul Fedorkowicz to its Board of Directors. Mr. Fedorkowicz, who boasts over 30 years of executive experience, has a strong background in public accounting, finance, audit, corporate governance, and business operations. He previously served as a Partner at Cherry Bekaert LLP, where he held various senior leadership positions, including Audit Partner and Partner in Charge, before retiring in 2020. Earlier in his career, he was a Senior Manager at KPMG. The Board's decision to bring Mr. Fedorkowicz on board is aimed at bolstering its expertise and governance. Tom Wayne, CEO and Chair of the Bank's Board of Directors, expressed confidence that Mr. Fedorkowicz's financial acumen and leadership experience will enhance the Board's collective abilities, contributing significantly as the Bank advances its vision to serve local communities effectively. Mr. Fedorkowicz's extensive knowledge in operational strategy and effective organizational practices will be invaluable as the Bank of Oak Ridge continues to pursue sustainable growth and make thoughtful decisions. His appointment is a clear indication of the Bank's commitment to responsible leadership and its foundational role in the community. As an employee-owned community bank, Bank of Oak Ridge prides itself on providing personalized service tailored to customer needs. The organization is dedicated to offering modern banking solutions while maintaining a local touch, ensuring that decision-making remains rooted in the community. Clients can easily connect with the bank through various channels, including phone, online, or by visiting local branches in Greensboro, High Point, Oak Ridge, and Summerfield. MWN-AI** Analysis. The recent appointment of Paul Fedorkowicz to the Board of Directors of Bank of Oak Ridge stands as a strategic move that merits attention from investors and market observers alike. Fedorkowicz brings over 30 years of robust experience in finance, audit, and corporate governance, particularly from his tenure at Cherry Bekaert LLP and KPMG. His background suggests a commitment to enhancing the bank's financial discipline, operational strategy, and corporate oversight. As the financial landscape becomes increasingly complex, the addition of a leader with such extensive expertise could enhance the bank's capability to navigate potential challenges while pursuing sustainable growth. Investors may view this move favorably, anticipating that Fedorkowicz's insights will lead to improved risk management and operational efficiency. This aligns with Bank of Oak Ridge's commitment to being a reliable community banking partner, which may foster deeper relationships with clients and bolster deposit growth. Moreover, the emphasis on "responsible leadership" highlights the bank's intention to prioritize ethical governance and community-focused approaches. This could resonate well with socially-conscious investors looking for firms that prioritize sustainability and community involvement, positioning the bank as an attractive investment opportunity amid a trend toward socially responsible investments. From a market perspective, Oak Ridge Financial Services appears well-positioned for growth, especially given its employee-owned structure and emphasis on local decision-making, which enhances customer experience. The innovation in technology, combined with personalized service, places the bank advantageously against larger competitors. In summary, Paul Fedorkowicz's appointment could be a catalyst for Bank of Oak Ridge's strategic growth. Investors might consider monitoring the bank's performance closely, as leadership changes often herald shifts in corporate strategy that can affect long-term value. Current valuations, alongside quarterly performance post-appointment, will provide further insight into the effectiveness of this strategic direction. **MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release. July 24, 2026 09:30:00 am OAK RIDGE, N.C., July 24, 2026 (GLOBE NEWSWIRE) - Oak Ridge Financial Services, Inc. ("Oak Ridge"; the "Company") (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the "Bank"), has appointed Paul Fedorkowicz to its Board of Directors. Mr. Fedorkowicz brings more than 30 years of executive leadership experience in public accounting, finance, audit, corporate governance, and business operations. Mr. Fedorkowicz is a retired Partner of Cherry Bekaert LLP, where he held several senior leadership roles throughout his distinguished career, including Audit Partner, Partner in Charge, and Partner and Chief Administrative Officer before retiring in 2020. Prior to joining Cherry Bekaert, he served as a Senior Manager with KPMG. Throughout his career, Mr. Fedorkowicz advised organizations on complex financial matters, operational strategy, and effective organizational practices. "Paul brings a wealth of financial expertise and executive leadership that will strengthen our Board and complement the experience of our current directors," said Tom Wayne, CEO and Chair of the Board of Directors at Bank of Oak Ridge. "His background in finance, governance, and organizational strategy will provide valuable insight as we continue advancing our vision and serving the individuals, businesses, and nonprofit organizations that make our communities strong." Mr. Fedorkowicz's appointment reflects Bank of Oak Ridge's ongoing commitment to responsible leadership and a strong foundation for the future. His experience will further enhance the Board's collective perspective as the Company continues to pursue sustainable growth, make thoughtful decisions, and deliver exceptional service to the clients and communities it serves. About Oak Ridge Financial Services, Inc. As the Triad's employee-owned community bank, Bank of Oak Ridge delivers Spectacularly Local banking with a personal touch. Rooted in its community, Market Wire News live by its promise: You Matter Here. Its decision-makers are local, Market Wire News know you by name, and Market Wire News provide personalized, 5-star service tailored to your unique needs. Alongside this commitment, Market Wire News offer modern tools and technology that make banking easy, safe, and convenient. Whether you're seeking a new banking partner or expanding your financial relationships, switching to Bank of Oak Ridge is simple and seamless. Connect with Market Wire News at (336) 644-9944, online at BankofOakRidge.com, or by visiting one of its convenient locations in Greensboro, High Point, Oak Ridge and Summerfield. FAQ**. How does the appointment of Paul Fedorkowicz to the Board of Directors impact the strategic direction of Oak Ridge Financial Services Inc BKOR, particularly in terms of financial governance and organizational practices? The appointment of Paul Fedorkowicz to the Board of Directors is likely to enhance Oak Ridge Financial Services Inc BKOR's strategic direction by strengthening financial governance and promoting sound organizational practices through his expertise and leadership. What specific initiatives or changes can customers expect from Oak Ridge Financial Services Inc BKOR following Mr. Fedorkowicz's addition to the board, especially regarding community engagement and service delivery? Customers can expect enhanced community engagement initiatives and improved service delivery from Oak Ridge Financial Services Inc BKOR following Mr. Fedorkowicz's addition to the board, focusing on tailored financial solutions that address local needs and foster stronger community ties. Considering Mr. Fedorkowicz's extensive background in finance and audit, how will his expertise contribute to risk management and compliance at Oak Ridge Financial Services Inc BKOR? Mr. Fedorkowicz's extensive background in finance and audit will enhance risk management and compliance at Oak Ridge Financial Services Inc BKOR by ensuring rigorous oversight, identifying potential financial risks, and implementing robust controls to safeguard the organization's integrity. In what ways does Oak Ridge Financial Services Inc BKOR plan to leverage Mr. Fedorkowicz's experience to enhance its growth strategies in the competitive banking landscape? Oak Ridge Financial Services Inc BKOR plans to leverage Mr. Fedorkowicz's extensive banking expertise and strategic insights to drive innovation, improve operational efficiencies, and enhance customer relations, thereby positioning the company for sustainable growth in a competitive landscape. **MWN-AI FAQ is based on asking OpenAI questions about Oak Ridge Financial Services Inc (OTC: BKOR).

Oak Ridge Financial Services, the parent company of Bank of Oak Ridge, reported earnings per share of $0.53 for the first quarter of 2026, down from $0.57 in the same period last year, whilst announcing a 14% increase in its quarterly cash dividend to $0.16 per share. The results were affected by three non-recurring items: a $291,000 one-time interest income correction, a $700,000 provision for credit losses and a $224,000 gain on securities sales. The company significantly strengthened its balance sheet by reducing total borrowings by nearly 50% and cutting wholesale deposits by $7.5 million. Nonperforming assets rose to 1.42% of total assets from 0.67% year-over-year, though CEO Tom Wayne noted the non-SBA loan portfolio continues demonstrating strong credit quality.

Oak Ridge Financial Services, parent company of Bank of Oak Ridge, reported earnings per share of $2.92 for 2025, up 42% from $2.06 in 2024, and declared a quarterly cash dividend of $0.14 per share. The company achieved $8.0 million in net income for 2025, with return on equity of 12.21% compared to 9.27% in 2024. Net interest margin improved to 4.11% from 3.83% year-on-year. Tangible book value per share increased 13% to $26.01. Loans receivable reached $517.4 million as of year-end 2025, up 0.6% from 2024. However, nonperforming assets rose to 1.07% of total assets from 0.53%, primarily consisting of SBA-guaranteed loans carried at net realisable value. The dividend will be paid on 3 March 2026 to shareholders of record as of 18 February 2026.