Welcome to our dedicated page for Golden Vy Bancshares news (Ticker: GVYB), a resource for investors and traders seeking the latest updates and insights on Golden Vy Bancshares stock.
Golden Valley Bancshares Inc (GVYB) is the bank holding company for Golden Valley Bank, a locally owned and operated commercial bank headquartered in Chico, California. Through its news releases, the company regularly reports unaudited quarterly financial results, capital actions and developments in its northern California markets, including Chico, Redding and Oroville.
Investors following GVYB news can review updates on Golden Valley Banks assets, loans, deposits and net profit, along with management commentary on the interest rate environment and local economic conditions. The company often discusses trends in interest income and interest expense, the impact of non-recurring Paycheck Protection Program (PPP) income in prior periods, and the banks continued status as a well-capitalized institution that exceeds minimum regulatory requirements.
News items also highlight Golden Valley Bancshares capital management decisions, such as announcements of special and annual cash dividends on its common stock and the authorization of stock repurchase plans. These releases describe the rationale for dividends and repurchases, including consideration of capital requirements, shareholder value and market conditions, as well as the intended effect on return on equity and liquidity for the companys shares.
Company news further covers Golden Valley Banks expansion and presence in its service area, including the construction and opening of its full-service Oroville office and the banks efforts to deepen relationships with businesses in its communities. By reviewing the GVYB news feed, readers can track how Golden Valley Bancshares communicates its performance, asset quality, deposit trends and strategic focus in northern California over time.
Golden Valley Bancshares (OTC PINK:GVYB) has reported strong Q1 2025 results, announcing special and annual cash dividends along with a new stock repurchase plan. The company declared a special dividend of $1.00 per share and an annual dividend of $0.40 per share, both payable in May 2025.
Key financial highlights for Q1 2025 vs Q1 2024 include:
- Assets up 18.2% to $574.6 million
- Deposits increased 18.9% to $525.7 million
- Loans grew 3.6% to $244.6 million
- Equity rose 14.5% to $40.5 million
The company reported Q1 2025 net profit of $853,000, up from $766,000 in Q1 2024. Interest income increased to $5.94 million, while interest expense rose to $1.93 million. The Board approved a $1 million stock repurchase program effective May 1, 2025 through December 31, 2025. Asset quality remains exceptional with no loans over 30 days past due.
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Golden Valley Bancshares (GVYB) reported a net profit of $990,796 for Q1 2023, down from $1,168,966 in Q1 2022. Higher interest expenses on deposit accounts, primarily due to rising interest rates, contributed to this decline. Despite the decrease in earnings, performance exceeded the Bank's forecasts. Loans grew by 8.1% to $241.3 million, while asset quality remained strong with no non-performing loans. The allowance for credit losses stands at $3.94 million, indicating preparedness for potential economic challenges. Although deposits fell by 1.3% to $436.5 million, activity has increased post-quarter. The Bank continues to be well-capitalized and is on track with its Oroville office construction, expected to open this summer.
Golden Valley Bancshares (OTC PINK:GVYB) reported a 6.7% increase in fourth quarter 2022 net profit, totaling $1,160,168, compared to $1,087,756 in Q4 2021. However, year-to-date net profit saw an 11.2% decrease to $4,579,956 from $5,159,320 in 2021, largely due to significant PPP fees collected in 2021. Key highlights include a 0.9% increase in assets to $478.1 million, a 6.1% rise in loans to $241.5 million, and a 2.4% growth in deposits to $443.2 million. Despite economic uncertainties, the bank maintains excellent asset quality with no non-performing loans.
Golden Valley Bancshares (OTC: GVYB) reported a third quarter 2022 net profit of $1,197,058, a 9.9% decrease year-over-year. Year-to-date net profit stands at $3,419,788, reflecting a 16.0% decline. The reductions stem from a significant drop in non-recurring income from the forgiveness of PPP loans, down to $11.5 million in 2022 from $78.8 million in 2021. However, assets rose 8.3% to $504.0 million, with loans increasing 12.97% to $237.8 million and deposits climbing 10.8% to $470.9 million.
Golden Valley Bancshares (OTC Markets: GVYB) reported a second quarter 2022 net profit of $1,053,764, marking a 20% decrease from 2021. Year-to-date profit also fell 19% to $2,222,730, largely due to lower non-recurring income from PPP loans, which dropped from $54.2 million in 2021 to $11.5 million in 2022. However, assets grew 10% to $487.2 million, loans increased 12.4% to $229.6 million, and deposits rose 11.7% to $451.4 million. The bank has also set aside $4.58 million in loan loss reserves, and plans to construct a new office in Oroville, CA.
Golden Valley Bancshares (OTC PINK:GVYB) reported a net profit of $1,168,966 for Q1 2022, down from $1,426,439 in Q1 2021. Financial highlights include a 10.3% increase in assets to $485.3 million, 10.8% growth in loans to $223.3 million, and 12.1% rise in deposits to $445.2 million. Despite the profit decline, results exceeded internal projections. The bank maintains excellent asset quality with no non-performing loans and has set aside $4.58 million in loan loss reserves. A new office will open in Oroville, CA by late 2022.
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