Financial Performance - Consolidated net income for Q1 2025 was $5,297,000, or $0.64 per diluted share, down from $6,008,000, or $0.73 EPS in the prior quarter [3]. - Net interest income for Q1 2025 was $17,807,000, slightly down from $17,846,000 in the previous quarter, while the net interest margin increased to 4.09% from 4.00% [4]. - Non-interest income rose to $1,613,000 in Q1 2025, compared to $1,430,000 in the prior quarter, driven by positive changes in the fair value of equity securities [5]. - Non-interest expenses increased to $12,624,000 in Q1 2025, up from $11,548,000 in the previous quarter, primarily due to staffing and operating costs [6]. Asset and Loan Management - Total assets reached $1.92 billion as of March 31, 2025, an increase of $23.8 million from December 31, 2024 [7]. - Gross loans were $1.09 billion at March 31, 2025, a decrease of $15.6 million from the previous quarter, but an increase of $51.4 million year-over-year [7]. - The allowance for credit losses as a percentage of gross loans was 1.05% as of March 31, 2025, stable compared to 1.04% in the previous quarter [8]. Deposits and Branch Expansion - Total deposits increased to $1.71 billion, up $17.9 million from December 31, 2024, and $101.2 million year-over-year [7]. - The company plans to open its 19th branch location in Lodi later this year, expanding its presence in the market [9]. Stock Performance - The stock price was $24.96 at the end of Q1 2025, with a price-to-earnings ratio of 9.56 [13].
Oak Valley Bancorp(OVLY) - 2025 Q1 - Quarterly Results