Oak Valley Q2 2020 Earnings Report
Key Takeaways
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.
Net income for Q2 2020 was $2,581,000, or $0.32 per diluted share.
Net interest income increased to $11,146,000 due to PPP loans and organic growth.
Total assets reached $1.465 billion as of June 30, 2020.
The company declared a cash dividend of $0.14 per share.
Oak Valley
Oak Valley
Forward Guidance
This press release includes forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the corporation's possible or assumed future financial condition, and its results of operations and business.