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 ...

OAKDALE, Calif., April 26, 2024 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ:OVLY) is pleased to announce that it was named by Best Companies Group as one of 2024 Best Places to Work: Central Valley. At the same time, OVCB was recognized by Opportunity Stanislaus for "Growing the Economy" by increasing their workforce by 10% or more throughout 2023. "We are honored to be acknowledged for our growth and named one of the Best Places to Work in the Cent ...

OAK VALLEY BANCORP REPORTS 1st QUARTER RESULTS OAKDALE, CAOak Valley Bancorp (NASDAQ: OVLY) (the "Company"), the bank holding company for Oak Valley Community Bank and their Eastern Sierra Community Bank division, recently reported unaudited consolidated financial results for the first quarter of 2024. For the three months ended March 31, 2024, consolidated net income was $5,727,000, or $0.69 per diluted share (EPS). This compared to consolidated net income of $5,865,000, or $0.71 EPS, for the prior quarter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-34142 OAK VALLEY BANCORP (Exact name of registrant as specified in its charter) California 26-2326676 (State or other jurisdiction of incorporation or organiza ...

Financial Performance - The Company reported net income of $7,354,000 and $24,983,000 for the three and nine-month periods ended September 30, 2023, representing increases of 8.1% and 86.1% compared to the same periods in 2022[113]. - Return on average assets (annualized) was 1.57% and 1.76% for the three and nine-month periods ended September 30, 2023, compared to 1.35% and 0.92% for the same periods in 2022[114]. - Annualized return on average common equity was 19.85% and 23.71% for the three and nine-month periods ended September 30, 2023, compared to 21.96% and 13.79% for the same periods in 2022[114]. Net Interest Income - Net interest income increased by $2,166,000 or 12.9% and $16,925,000 or 41.3% for the three and nine-month periods ended September 30, 2023, respectively, driven by loan growth and higher yields on earning assets[113]. - Net interest income for the three months ended September 30, 2023, was $18,938,000, an increase of 12.9% compared to the same period in 2022[116]. - For the nine months ended September 30, 2023, net interest income reached $57,888,000, reflecting a 41.3% increase from the comparable period in 2022[116]. - The net interest margin improved to 4.34% and 4.39% for the three and nine-month periods ended September 30, 2023, respectively, compared to 3.61% and 3.05% in 2022[117]. - The net interest spread for the nine months ended September 30, 2023, was 4.25%, up from 3.01% in the same period of 2022[121]. Non-Interest Income and Expenses - Non-interest income decreased by $45,000 or 2.8% for the three-month period but increased by $726,000 or 17.5% for the nine-month period ended September 30, 2023, compared to the same periods in 2022[113]. - Non-interest expense increased by $1,208,000 or 12.9% and $2,701,000 or 9.8% for the three and nine-month periods ended September 30, 2023, primarily due to staffing increases and overhead related to servicing the growing loan and deposit portfolios[113]. - Non-interest income for the nine months ended September 30, 2023, was $4,876,000, representing an increase of $726,000 (17.5%) compared to the same period in 2022, driven by service charges on deposits and other income[134]. - Total non-interest expense rose by $1,208,000 (12.9%) for Q3 2023 and $2,701,000 (9.8%) for the nine-month period, reflecting increased operational costs associated with business expansion[141]. Credit Quality - The Company recognized a credit loss provision of $300,000 during the third quarter and a reversal of credit loss provisions of $160,000 during the nine-month period ended September 30, 2023[113]. - Provisions for credit losses were $300,000 for Q3 2023, with a reversal of $160,000 for the nine-month period, compared to $200,000 in provisions for the same periods in 2022, indicating strong credit quality with non-accrual loans at a zero balance[133]. - As of September 30, 2023, non-performing assets totaled $0, maintaining a 0.00% ratio to total assets, indicating strong credit quality within the loan portfolio[153]. - The allowance for credit losses increased to $9,738,000 as of September 30, 2023, from $9,468,000 as of December 31, 2022, reflecting a reversal of $160,000 in provisions and net loan recoveries of $84,000[155]. Liquidity and Capital - Cash and cash equivalent balances decreased by $151,872,000 or 35.3% from December 31, 2022, to September 30, 2023[113]. - The Company had no outstanding Federal Home Loan Bank advances or borrowings as of September 30, 2023, relying primarily on deposit growth for funding[169]. - The Company maintains a line of credit with two correspondent banks for up to $70 million in federal funds, with no advances as of September 30, 2023[178]. - As of September 30, 2023, the Company's total capital to risk-weighted assets ratio was 14.5%, exceeding the minimum requirement of 10.5%[173]. - The Tier I capital to risk-weighted assets ratio was 13.7% as of September 30, 2023, above the minimum requirement of 8.5%[173]. Deposits - Total deposits decreased by $147,749,000 or 8.1% to $1,666,548,000 as of September 30, 2023, compared to $1,814,297,000 as of December 31, 2022[165]. - Average deposits for the nine-month period ended September 30, 2023, decreased by $83,117,000 to $1,725,040,000 compared to the same period in 2022[165]. - The Company experienced nominal negative impacts on liquidity due to recent events in the banking industry, with deposit decreases attributed to higher rates offered by competitors[167]. - The Company had no brokered deposits as of September 30, 2023, emphasizing a strategy focused on core deposit growth[168].