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Dec 31, 2024
Oak Valley Q4 2024 Earnings Report
Oak Valley Bancorp reported a solid fourth quarter with increased net income compared to the same period last year, driven by credit loss provision reversals and loan growth.
Key Takeaways
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.
Net income for Q4 2024 was $6,008,000, or $0.73 EPS.
Net interest income for Q4 2024 was $17,846,000.
Total assets reached $1.90 billion as of December 31, 2024.
Gross loans amounted to $1.11 billion as of December 31, 2024.
Oak Valley
Oak Valley
Forward Guidance
The 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
- Include information concerning the corporation's possible or assumed future financial condition
- Include information concerning its results of operations
- Include information concerning its business
- All forward-looking statements included in this press release are based on information available at the time of the release
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
- Competition in the geographic and business areas in which the company conducts its operations.