Oak Valley Earnings Reports

Oak Valley Bancorp posted net income of $5.6M with EPS of $0.67, driven by higher net interest income from loan growth. Credit quality remained strong with zero non-performing assets and a credit loss reserve ratio of 1.03%.

Oak Valley Bancorp reported a net income of $6.008 million, or $0.73 per diluted share, for the fourth quarter of 2024. This represents an increase compared to the same period last year. The increase over the same period a year ago is related to a credit loss provision of $1,130,000 recorded during the fourth quarter of 2023, corresponding to macro-economic conditions and loan growth of $100.8 million during the fourth quarter of 2023.

Oak Valley Bancorp reported a net income of $5,889,000, or $0.71 per diluted share, for the quarter ended June 30, 2024. The increase in second quarter net income compared to the prior quarter was due to growth in the deposit and loan portfolios, and an increase in non-interest income.

Oak Valley Bancorp reported a net income of $5,727,000, or $0.69 per diluted share, for the first quarter of 2024. This represents a decrease compared to the prior quarter and the same period last year, primarily due to increased deposit interest expense. Loan growth partially offset the impact of higher funding costs.

Oak Valley Bancorp reported a net income of $5,865,000 for Q4 2023, a decrease compared to the previous quarter and the same period last year. However, the company achieved historic annual earnings, driven by rising net interest income from higher yields on earning assets. Total assets reached $1.84 billion, and gross loans amounted to $1.02 billion.

Oak Valley Bancorp reported a net income of $7.35 million, or $0.89 per diluted share, for the third quarter of 2023. This compares to $8.40 million, or $1.02 EPS, for the prior quarter and $6.80 million, or $0.83 EPS, for the same period a year ago. The decrease in net income compared to the prior quarter was primarily due to an increase in deposit interest expense, a credit loss provision, and an increase in non-interest expense.

Oak Valley Bancorp reported a net income of $8,404,000, or $1.02 per diluted share, for the second quarter of 2023. The decrease in second quarter net income compared to the prior quarter was primarily due to a $460,000 reversal of loan loss provision in the first quarter of 2023 and an increase in non-interest expense during the second quarter. The company strategically capitalized on opportunities to increase yield through investments and loans, fueling margin expansion and profitability.

Oak Valley Bancorp reported a net income of $9.23 million for Q1 2023, a slight decrease compared to the previous quarter but a significant increase compared to the same period last year. The increase in net income compared to the same period a year ago was attributable to rising net interest income resulting from increased yields on earning assets, triggered by FOMC rate hikes, and growth of our investment and loan portfolios.

Oak Valley Bancorp reported a strong fourth quarter with net income of $9.475 million, or $1.15 per diluted share, driven by rising net interest income and a loan loss provision reversal of $1,550,000. Net interest income increased to $19.113 million, and the net interest margin expanded to 4.09%. Total assets reached $1.97 billion, and gross loans totaled $915.8 million.

Oak Valley Bancorp reported a net income of $6.8 million, or $0.83 per diluted share, for the three months ended September 30, 2022. Net interest income increased to $16.772 million, driven by higher yields on earning assets and growth in loan and investment portfolios.

Oak Valley Bancorp reported a net income of $4,258,000, or $0.52 per diluted share, for the second quarter of 2022, compared to $3,960,000, or $0.48 EPS, for the same period a year ago. The increase in net income was primarily due to strong growth in loan and investment portfolios, combined with higher yields on earning assets.

Oak Valley Bancorp reported a net income of $2,369,000, or $0.29 per diluted share, for the first quarter of 2022. This is a decrease compared to the prior quarter and the same period last year, primarily due to a decrease in Paycheck Protection Program (PPP) loan interest and fee income.

Oak Valley Bancorp reported a net income of $3,466,000 for the fourth quarter of 2021, a decrease compared to the previous quarter and the same period last year. The decrease was primarily due to a reduction in Paycheck Protection Program (PPP) loan interest and fee income. However, the company benefited from loan growth (excluding PPP loans) and investment portfolio growth.

Oak Valley Bancorp reported a net income of $4,554,000, or $0.56 per diluted share, for the three months ended September 30, 2021. This represents an increase compared to the prior quarter and the same period in 2020. The increase was partially due to increased Paycheck Protection Program (PPP) loan interest and fees.

Oak Valley Bancorp's first quarter net income was $4,357,000, or $0.53 per diluted share. Net interest income increased due to PPP loans and organic loan growth. Total assets reached $1.67 billion, and total deposits were $1.52 billion.

Oak Valley Bancorp reported a net income of $4,649,000, or $0.57 per diluted share, for the fourth quarter of 2020. The increase in net income was primarily due to PPP loan interest and fee income, as well as a loan loss provision reversal. The company's total assets reached $1.51 billion, and total deposits were $1.37 billion.

Oak Valley Bancorp reported a consolidated net income of $3,748,000, or $0.46 per diluted share, for the three months ended September 30, 2020. The increase in net income was primarily due to a decrease in loan loss provision and income from Paycheck Protection Program (PPP) loans.

Oak Valley Bancorp reported a net income of $2,581,000, or $0.32 per diluted share, for the three months ended June 30, 2020. The decrease in net income was primarily due to loan loss provisions related to the COVID-19 pandemic and a reduction in earning asset yields, offset by an increase in loan interest and fee income from PPP loans.

Oak Valley Bancorp reported a net income of $2,709,000, or $0.33 per diluted share, for the first quarter of 2020. The decrease in net income compared to prior periods was primarily due to an increase in provision for loan losses and a decrease in yield on earning assets resulting from recent FOMC rate cuts.

Oak Valley Bancorp reported a net income of $3,191,000, or $0.39 per diluted share, for Q4 2019. The decrease from the prior quarter is due to net interest margin compression as a result of recent FOMC interest rate cuts during the third and fourth quarters of 2019, which negatively impacted yields on earning assets. Total assets reached $1.15 billion, and gross loans amounted to $751.0 million.