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Oak Valley Bancorp - OVLY STOCK NEWS

Welcome to our dedicated page for Oak Valley Bancorp news (Ticker: OVLY), a resource for investors and traders seeking the latest updates and insights on Oak Valley Bancorp stock.

Oak Valley Bancorp (NASDAQ: OVLY) is a well-established bank holding company headquartered in Oakdale, California. It operates through its subsidiary, Oak Valley Community Bank, and offers a comprehensive range of financial services to businesses and individuals. With a unique style of service that attracts small to medium-sized businesses, professionals, and individuals, Oak Valley Community Bank has grown significantly since its inception.

Located in the heart of California’s Central Valley, Oak Valley Bancorp serves a growing footprint that spans five counties and extends into the Eastern Sierra Nevada. The company's commitment to a team philosophy and promoting from within has contributed to its long-term growth strategy. This strategy includes a well-thought-out de novo branch approach referred to as the “rolling 10-year plan.” Over its 24-year history, this plan has transformed Oak Valley Bancorp from a single branch operation to a network of 15 locations, with a 16th branch under construction, and nearly $800 million in assets.

Oak Valley Community Bank offers a variety of business checking and savings accounts, commercial and real estate loans, and lines of credit. They also provide a wide range of additional services for both businesses and individuals, including online banking, remote deposit capture, mobile banking, merchant services, night depository, extended hours, wire transfers, note collection, and access to a national network of automated teller machines.

Known for its strong community ties and culture of service, Oak Valley Bancorp has the distinction of being the only NASDAQ-traded company headquartered in Stanislaus County. The company's primary source of revenue is net interest income, reflecting its robust financial health and effective management practices.

The latest updates on Oak Valley Bancorp's performance, events, and developments are crucial for stakeholders and potential investors seeking relevant and timely information about the company.

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Oak Valley Bancorp (NASDAQ: OVLY) reported Q2 2024 results with consolidated net income of $5,889,000, or $0.71 EPS. This marks an increase from $5,727,000 ($0.69 EPS) in Q1 2024, but a decrease from $8,404,000 ($1.02 EPS) in Q2 2023. The company saw growth in deposit and loan portfolios, with total assets reaching $1.84 billion. Gross loans increased to $1.07 billion, up $119.5 million year-over-year. Total deposits were $1.64 billion.

The Board declared a cash dividend of $0.225 per share, payable on August 9, 2024, to shareholders of record as of July 29, 2024. This marks the second dividend payment in 2024. Despite industry concerns over commercial real estate credit risk, Oak Valley Bancorp maintains a strong liquidity position with $180.3 million in cash and cash equivalents.

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Oak Valley Bancorp (NASDAQ: OVLY), the holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, announced the retirement of Ronald C. Martin from its Boards of Directors, effective June 30, 2024. Martin, who joined the bank in 1992 as President and CEO, played a significant role in the bank's growth and stability. He stepped down from the CEO role in 2013 but continued to serve as a director. Current CEO, Chris Courtney, praised Martin's contributions and leadership. Oak Valley Bancorp operates 18 branches across various locations offering diverse loan and deposit products.

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Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has announced the hiring of Melissa Loeb as Vice President and Branch Manager of their Roseville office. Loeb brings over 20 years of banking experience, including 12 years as a Branch Manager in Northern California.

In her new role, she will oversee branch operations and focus on business development. Julie DeHart, Executive Vice President of the Retail Banking Group, expressed confidence in Loeb's positive impact due to her extensive experience and leadership skills in the Sacramento market.

Oak Valley Bancorp operates 18 branches across various locations, offering a wide range of loan and deposit products to individuals and small businesses.

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Oak Valley Bancorp (NASDAQ: OVLY) received the 2023 Raymond James Community Bankers Cup, ranking in the top 10% of U.S. community banks. This achievement marks the fourth time the company has been recognized, securing the 2nd spot out of 203 banks considered. The award highlights superior performance in key financial metrics such as nonperforming assets, core deposit percentage, net interest margin, efficiency ratio, return on average assets, and return on average tangible common equity. CEO Chris Courtney attributed the success to the team's dedication and performance. Oak Valley operates 18 branches across various California locations.

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Oak Valley Community Bank Named One of Central Valley’s Best Places to Work

Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has been recognized as one of the Best Places to Work in the Central Valley for 2024. The bank's growth and commitment to fostering a positive workplace environment have contributed to this achievement. The recognition highlights the bank's exceptional service culture and dedication to exceeding expectations.

The recognition by Best Companies Group and Opportunity Stanislaus reflects OVCB's success in creating a supportive work environment, increasing its workforce by 10% or more in 2023, and being part of a select group of companies celebrated for their employee satisfaction and job quality.

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Oak Valley Bancorp reported unaudited consolidated financial results for the first quarter of 2024, with a net income of $5,727,000, EPS of $0.69, and a decrease in net interest income due to increased deposit interest expense. Non-interest income and total assets also showed changes compared to prior periods.
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Oak Valley Bancorp (OVLY) reported a decrease in net income for the fourth quarter of 2023 compared to the prior quarter, mainly due to a credit loss provision and an increase in deposit interest expense. However, the year-end consolidated net income increased by 34.7% compared to the previous year, driven by higher yields on earning assets. The company also declared a cash dividend of $0.225 per share of common stock, amounting to approximately $1,866,000.
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Oak Valley Bancorp (OVLY) reported unaudited consolidated financial results for the three months ended December 31, 2023. Consolidated net income was $5,865,000, a decrease from the prior quarter and year-ago period. However, the net income for the year ended December 31, 2023, totaled $30,848,000, representing an increase of 34.7% compared to the previous year. The decrease in quarterly earnings is attributed to a credit loss provision of $1,130,000 and an increase in deposit interest expense. The company's net interest income was $17,914,000 for the fourth quarter, and $75,802,000 for the year ended December 31, 2023, reflecting a decrease from the prior quarter but an increase from the same period a year ago. Non-interest income and non-interest expense also showed increases for the fourth quarter and year ended December 31, 2023. Total assets, gross loans, and total deposits also experienced fluctuations during the year.
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Oak Valley Bancorp (OVLY) Announces Key Additions to Executive Management Team
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Oak Valley Bancorp reports unaudited consolidated financial results for Q3 2023. Consolidated net income was $7.35 million, a decrease compared to the prior quarter. Net interest income for the quarter was $18.94 million. Non-interest income was $1.57 million. Non-interest expense was $10.58 million. Total assets were $1.84 billion. Gross loans were $971.2 million. Total deposits were $1.67 billion. Non-performing assets remained at zero. The allowance for credit losses increased to 1.00%.
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FAQ

What services does Oak Valley Community Bank offer?

Oak Valley Community Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, online banking, mobile banking, and more.

Where is Oak Valley Bancorp headquartered?

Oak Valley Bancorp is headquartered in Oakdale, California.

How many branches does Oak Valley Bancorp operate?

Oak Valley Bancorp operates 15 branches, with a 16th branch under construction.

What is the primary source of revenue for Oak Valley Bancorp?

The primary source of revenue for Oak Valley Bancorp is net interest income.

What is the 'rolling 10-year plan'?

The 'rolling 10-year plan' is Oak Valley Bancorp's long-term growth strategy involving the opening of new branches and enhancing service offerings.

Does Oak Valley Bancorp offer online banking?

Yes, Oak Valley Bancorp offers online banking services.

What distinguishes Oak Valley Bancorp in the market?

Oak Valley Bancorp is the only NASDAQ-traded company headquartered in Stanislaus County and serves a growing footprint in California's Central Valley.

What types of loans does Oak Valley Community Bank provide?

Oak Valley Community Bank provides commercial loans, real estate loans, and lines of credit.

What is Oak Valley Bancorp's asset size?

Oak Valley Bancorp has nearly $800 million in assets.

What is Oak Valley Bancorp's approach to employee management?

Oak Valley Bancorp embraces a team philosophy and promotes from within to manage for success.

Oak Valley Bancorp

Nasdaq:OVLY

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199.54M
8.36M
18%
31.4%
1.66%
Commercial Banking
Finance and Insurance
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United States of America
OAKDALE