Oak Valley Community Bank to Open New Branch in Lodi
Rhea-AI Summary
Oak Valley Community Bank, subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has received regulatory approval to open its 19th full-service branch in downtown Lodi, scheduled for mid-2025. The new branch, located at 31 South School Street, will be the bank's sixth location in San Joaquin County.
The Lodi branch will offer comprehensive personal and commercial banking services, including a walk-up ATM, night deposit service, and offices for commercial lending and administrative personnel. This expansion marks a significant growth in the bank's San Joaquin County presence, which began in 2005.
Oak Valley Community Bank currently operates 18 branches across various locations including Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, Sonora, Modesto, and their Eastern Sierra division branches in Bridgeport, Mammoth Lakes, and Bishop.
Positive
- Expansion of physical presence with 19th branch
- Regulatory approval secured for new location
- Strategic growth in San Joaquin County market
Negative
- None.
News Market Reaction – OVLY
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OAKDALE, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY) recently announced it has received regulatory approval to establish its 19th full-service branch. The new office will be located at 31 South School Street in downtown Lodi and is scheduled to open mid-2025.
Established in 1991, Oak Valley Community Bank opened its first branch in San Joaquin County in 2005. The Lodi Branch will be the bank’s sixth location in the county and offer a full line of personal and commercial banking services, a traditional walk-up ATM, and night deposit service. The branch will also include offices for commercial lending and administrative personnel.
“We are pleased to expand our branch network into Lodi. This adds another convenient location to our footprint,” stated Rick McCarty, President & Chief Operating Officer. “As a community bank headquartered in the Central Valley, this addition will allow us to provide increased accessibility to clients and introduce our unique brand of first-class service to a new audience of prospective clients, particularly those in the northern portion of San Joaquin County,” he concluded.
Oak Valley Bancorp operates Oak Valley Community Bank & their Eastern Sierra Community Bank division, through which it 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, call 1-866-844-7500 or visit www.ovcb.com.
| Contact: | Chris Courtney/Rick McCarty |
| Phone: | (209) 848-BANK (2265) |
| Toll Free (866) 844-7500 | |
| www.ovcb.com |
FAQ
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