 OTTAWA, Ill., Nov. 06, 2020 GLOBE NEWSWIRE -- Ottawa Bancorp, Inc. the Company OTCQX: OTTW, the holding company for Ottawa Savings Bank, FSB the Bank, announced net income of 0.8 million, or 0.27 per basic and diluted common share for the three months ended September 30, 2020, compared to net income of 0.5 million, or 0.18 per basic and diluted common share for the three months ended September 30, 2019. For the nine months ended September 30, 2020, the Company announced net income of 1.6 million, or 0.55 per basic and diluted common share, compared to net income of 1.4 million, or 0.44 per basic and diluted common share for the nine months ended September 30, 2019. During the third quarter of 2020, the Company experienced an increase in loan originations which drove growth in the loan portfolio. The loan portfolio, net of allowance, increased to 256.7 million as of September 30, 2020 from 247.8 million as of December 31, 2019. Non-performing loans decreased from 2.3 million at December 31, 2019 to 1.8 million at September 30, 2020, which caused the ratio of non-performing loans to gross loans to decrease from 0.90 at December 31, 2019 to 0.68 at September 30, 2020. Additionally, through September 30, 2020, the Company has repurchased a total of 524,341 shares of its common stock at an average price of 12.93 per share as part of the stock repurchase program approved on November 20, 2019 and its previous stock repurchase programs that expired in November 2018 and November 2019. 