Financial Performance - Consolidated net income for Q3 2024 was $7,324,000, or $0.89 per diluted share, compared to $5,889,000, or $0.71 EPS in the prior quarter[1] - Net income for September 2024 was $18,940,000, a decrease of 24.5% from $24,983,000 in September 2023[11] - Earnings per share (EPS) - basic and diluted both stood at $2.30, down from $3.05 and $3.04 respectively in the previous year[11] - Return on average equity decreased to 14.90% from 23.71% year-over-year[11] Asset and Loan Growth - Total assets reached $1.90 billion as of September 30, 2024, an increase of $59.9 million from June 30, 2024[6] - Gross loans amounted to $1.08 billion, reflecting a $103.9 million increase year-over-year[6] - Total assets increased to $1,900,455,000 from $1,835,402,000, reflecting a growth of 3.5%[11] - Gross loans rose to $1,075,138,000, up from $971,243,000, marking an increase of 10.7%[11] Deposits and Liquidity - Total deposits were $1.69 billion, up $45.6 million from June 30, 2024[6] - Deposits grew to $1,690,301,000 compared to $1,666,548,000, indicating a rise of 1.4%[11] - The company maintains a strong liquidity position with $213.9 million in cash and cash equivalents as of September 30, 2024[6] Income and Expenses - Non-interest income for Q3 2024 was $1,846,000, an increase from $1,760,000 in the prior quarter, mainly due to unrealized gains on equity securities[5] - Non-interest income was $5,125,000, up from $4,876,000, showing an increase of 5.1%[11] - Non-interest expense decreased to $11,324,000 from $11,616,000 in the prior quarter, primarily due to lower charitable contributions and data processing expenses[5] Credit Quality - The allowance for credit losses as a percentage of gross loans increased to 1.07% at September 30, 2024, from 1.04% at June 30, 2024[7] Efficiency and Stock Performance - The efficiency ratio worsened to 58.55% from 47.48%, indicating increased operational costs[11] - Stock price at the end of the period was $26.57, up from $25.08, reflecting a growth of 5.9%[11] Interest Income and Margin - Net interest income increased to $17,655,000 in Q3 2024 from $17,292,000 in the prior quarter, attributed to earning asset growth and a 3 basis point increase in average earning asset yield[3] - The net interest margin for Q3 2024 was 4.04%, down from 4.11% in the prior quarter[3] Book Value - Book value per share increased to $22.18 from $16.29, representing a growth of 36.5%[11]

OAKDALE, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Oak Valley Community Bank (OVCB), a whollyowned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded Modesto Gospel Mission (MGM) with a 2024 AHP grant for two-million dollars. This significant funding will propel MGM's efforts to provide emergency shelter and other vital services to the neediest residents of Modesto. MGM worked collaboratively with OVCB to apply for ...

OAKDALE, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Oak Valley Community Bank (OVCB), a whollyowned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded Modesto Gospel Mission (MGM) with a 2024 AHP grant for two-million dollars. This significant funding will propel MGM's efforts to provide emergency shelter and other vital services to the neediest residents of Modesto. MGM worked collaboratively with OVCB to apply for ...

Exhibit 99.1 OAK VALLEY BANCORP REPORTS 2nd QUARTER RESULTS AND ANNOUNCES CASH DIVIDEND "Our earnings performance reflects our consistent and prudent approach to managing our business. We continue to focus on relationship-based core deposit growth which enables us to maintain our lending activity and enhance profitability," stated Rick McCarty, President and Chief Operating Officer. Total assets were $1.84 billion at June 30, 2024, an increase of $34.1 million over March 31, 2024 and a decrease of $21.2 mil ...

SIX MONTHS ENDED JUNE 30, (1) Ratio computed on a fully tax equivalent basis using a marginal federal tax rate of 21%. (2) Ratio computed on a fully tax equivalent basis using a marginal federal tax rate of 21%. A marginal federal/state combined tax rate of 29.56%, was used for applicable revenue. Total assets were $1.84 billion at June 30, 2024, an increase of $34.1 million over March 31, 2024 and a decrease of $21.2 million from June 30, 2023. Gross loans were $1.07 billion at June 30, 2024, an increase o ...

Core Points - Ronald C. Martin will retire from the Boards of Directors of Oak Valley Bancorp and Oak Valley Community Bank effective June 30, 2024 [1] - Martin has been with Oak Valley Community Bank since its inception in 1992, serving as President and CEO until 2013, and continued as a Director for ten years thereafter [2] - Martin's leadership was crucial in establishing the bank and building shareholder confidence during its early years [3] Company Overview - Oak Valley Bancorp operates Oak Valley Community Bank and Eastern Sierra Community Bank, providing various loan and deposit products to individuals and small businesses [4] - The company has 18 branches located in various cities including Oakdale, Turlock, Stockton, and several others in the Eastern Sierra division [4]

OAKDALE, Calif., June 24, 2024 (GLOBE NEWSWIRE) -- Oak Valley Bancorp (NASDAQ: OVLY) (the "Company"), the bank holding company for Oak Valley Community Bank (the "Bank") and their Eastern Sierra Community Bank division, announced the retirement of Ronald C. Martin from the Bank and Company's Boards of Directors, effective June 30, 2024. Martin joined Oak Valley Community Bank as President and Chief Executive Officer in 1992, shortly after its formation. In 2004, Martin passed the role of President to curren ...

OAKDALE, Calif, June 11, 2024 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that Melissa Loeb has joined the bank as Vice President, Branch Manager of the Roseville Office, located at 1478 Stone Point Drive. Loeb joins Oak Valley with over 20 years of banking experience, the past twelve as a Branch Manager in Northern California. In her role, she will oversee branch operations and focus on business development opportunities. "We are ...

OAKDALE, Calif., May 30, 2024 (GLOBE NEWSWIRE) -- Oak Valley Bancorp (NASDAQ: OVLY), the parent company of Oak Valley Community Bank, has been awarded the 2023 Raymond James Community Bankers Cup as one of the top 10% of community banks in the United States. Winners are recognized for demonstrating superior performance in several financial measurements. The pool of banks considered for recognition includes all exchange-traded domestic banks, excluding mutual holding companies and potential acquisition targe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34142 OAK VALLEY BANCORP (Exact name of registrant as specified in its charter) State or other jurisdiction of I.R.S. Employer ...