Loading...
•
Jun 30, 2024
Oak Valley Q2 2024 Earnings Report
Reported strong financial performance and solid earnings.
Key Takeaways
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.
Net income was $5,889,000, or $0.71 per diluted share.
Net interest income increased to $17,292,000.
Total assets reached $1.84 billion.
Gross loans amounted to $1.07 billion.
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.
Positive Outlook
- Based on management's knowledge and belief as of today
- Includes information concerning the corporation's possible or assumed future financial condition
- Includes information concerning its results of operations and business.
- Company assumes no obligation to update any forward-looking statement.
- Driven by our ability to meet the needs of our customers and communities
Challenges Ahead
- Forward-looking statements are subject to risks and uncertainties.
- Fluctuations in interest rates
- Government policies and regulations (including monetary and fiscal policies)
- Economic conditions, including increased energy costs in California
- Credit quality of borrowers