Oak View National Bank reported its 2017 financial results, highlighting continued growth in assets, loans, and deposits despite a one-time accounting impact related to federal tax reform. The bank earned $837,388 for the year, while total assets increased 9.2% to $218.3 million, loans grew 14.3% to $183.3 million, and deposits rose 9% to $176.1 million.

Management noted that the Tax Cuts and Jobs Act required a one-time adjustment to deferred tax assets that reduced reported earnings, but without this adjustment, annual net income would have exceeded $1.16 million. Credit quality remained strong, with only two nonperforming loans at year-end, and the bank continued to benefit from growth in lending activity and fee-based income. Leadership expressed confidence that lower corporate tax rates would provide long-term benefits while supporting continued community banking growth throughout Northern Virginia.

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Press Release