Oak Valley Bancorp Honored with the 2023 Raymond James Community Bankers Cup Award
Oak Valley Bancorp (NASDAQ: OVLY) received the 2023 Raymond James Community Bankers Cup, ranking in the top 10% of U.S. community banks.
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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.
Positive
- Oak Valley Bancorp ranked 2nd among 203 community banks in the 2023 Raymond James Community Bankers Cup.
- This is the fourth time Oak Valley Bancorp has received this recognition.
- Ranked in the top 10% of U.S. community banks.
- Recognized for superior performance in key financial metrics: nonperforming assets, core deposit percentage, net interest margin, efficiency ratio, return on average assets, and return on average tangible common equity.
- The achievement reflects strong operational efficiency and profitability.
- Operates 18 branches in strategic California locations, enhancing accessibility and service reach.
Negative
- The pool of banks considered for recognition excludes mutual holding companies and potential acquisition targets, which might skew comparative performance.
- The award's criteria exclude many banks, possibly limiting the perceived competitiveness of the recognition.
Details
News Market Reaction – OVLY
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OAKDALE, Calif., May 30, 2024 (GLOBE NEWSWIRE) -- Oak Valley Bancorp (NASDAQ: OVLY), the parent company of Oak Valley Community Bank, has been awarded the 2023 Raymond James Community Bankers Cup as one of the top
Out of 203 community banks that were considered for 2023, Oak Valley Bancorp earned the 2nd spot of only 21 banks to be named to the 2023 Raymond James Bankers Cup, in its twelfth annual list of top-performing community banks. Raymond James, an independent investment bank and research firm, analyzed banks nationwide to select its Bankers Cup recipients. This elite annual list recognizes the top
- Nonperforming assets to loans and real estate owned (NPAs / Loans + OREO)
- Five-year average core deposit percentage
- Net interest margin (NIM)
- Efficiency ratio
- Return on average assets (ROAA)
- Return on average tangible common equity (ROTCE)
“We are honored to once again be recognized by Raymond James as one of the top performing community banks in the nation,” remarked Chris Courtney, CEO of Oak Valley Bancorp. “This award speaks to our strength and resilience, which could not have been achieved without the hard work, dedication, and exceptional performance of our entire team.”
Oak Valley offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop. For more information visit www.ovcb.com.
| Contact: | Chris Courtney/Rick McCarty |
| Phone: | (209) 848-BANK (2265) |
| Toll Free (866) 844-7500 | |
| www.ovcb.com |
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