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Mar 31, 2020
Oak Valley Q1 2020 Earnings Report
Reported a decrease in net income due to an increase in provision for loan losses and a decrease in yield on earning assets.
Key Takeaways
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.
Net income was $2,709,000, or $0.33 per diluted share.
Net interest income decreased to $10,228,000 due to rate cuts.
Total assets increased to $1.16 billion.
Non-performing assets decreased to $959,000, representing 0.08% of total assets.
Oak Valley
Oak Valley
Forward Guidance
The press release includes forward-looking statements about the corporation, which are subject to risks and uncertainties.