Welcome to our dedicated page for Oak Vally Bancrp news (Ticker: OVLY), a resource for investors and traders seeking the latest updates and insights on Oak Vally Bancrp stock.
Oak Valley Bancorp (OVLY) provides community-focused banking services across California's Central Valley, serving businesses and individuals through personalized financial solutions. This page aggregates official news and developments from this Nasdaq-traded regional bank.
Investors and stakeholders will find timely updates including quarterly earnings reports, leadership announcements, and strategic expansion initiatives. The curated collection serves as a reliable resource for tracking OVLY's financial performance and community engagement efforts.
Content spans regulatory filings, operational updates, and community partnership announcements. Key focus areas include the bank's de novo branch expansion strategy, service excellence initiatives, and financial health indicators.
Bookmark this page for streamlined access to OVLY's latest developments. Check back regularly for updates reflecting the bank's commitment to transparent communication and regional economic growth.
Oak Valley Bancorp (NASDAQ: OVLY) reported a consolidated net income of $4,554,000 ($0.56 per diluted share) in Q3 2021, marking a 15% increase from Q2 2021. Year-to-date net income reached $12,870,000 ($1.57 EPS), up 42.4% from $9,038,000 in 2020. Key drivers included increased income from Paycheck Protection Program (PPP) loans totaling $7,472,000 year-to-date. Despite robust asset growth to $1.86 billion, gross loans decreased by $71.8 million compared to Q2 2021. Non-performing assets dropped to zero.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has received regulatory approval to open its 18th full-service branch in Roseville, California. The new location at 1478 Stone Point Drive is set to launch in Q1 2022. This branch will offer a range of personal and commercial banking services, including a traditional ATM and night deposit services. President Chris Courtney emphasized that this expansion will enhance service convenience for clients in the greater Sacramento area and provide first-class banking services to new customers.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has appointed Shaun Smith as Assistant Vice President and Branch Manager at their Modesto location. Smith brings valuable banking experience, having previously managed branch operations and business development. His background includes service as a police officer and Chief of Police in Cleveland, Missouri, where he received a Life Saving Award. Oak Valley Bancorp operates 17 branches and offers various loan and deposit products to individuals and small businesses.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has appointed Mona Dmitrenko as Vice President, Commercial Loan Officer, based in Sacramento. Dmitrenko brings 30 years of banking experience with a focus on commercial and agribusiness lending. The bank is exploring expansion opportunities in the Greater Sacramento region, leveraging her expertise. Oak Valley operates 17 branches, providing various loan and deposit products.
Oak Valley Bancorp (NASDAQ: OVLY) reported a consolidated net income of $3,960,000 ($0.48 per diluted share) for Q2 2021, down from $4,357,000 ($0.53 EPS) in Q1 2021, but up from $2,581,000 ($0.32 EPS) YOY. Year-to-date net income reached $8,316,000 ($1.02 EPS), marking a 57.2% increase from last year. The company declared a cash dividend of $0.145 per share, payable on August 13, 2021. Total assets grew to $1.76 billion, with total deposits at $1.61 billion, reflecting strong community banking relationships.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has appointed Thomas (T.J.) Keshishian as Vice President and Branch Manager at the East Sonora Branch. With six years of banking experience and a Pinnacle Award in 2019, Keshishian is expected to enhance business development and operations. He is a member of the Sierra Professional Association and is actively involved in community activities. Oak Valley Bancorp operates 17 branches, offering various loan and deposit products for individuals and small businesses.
Oak Valley Bancorp (NASDAQ: OVLY) reported first-quarter 2021 net income of $4,357,000 ($0.53 EPS), down from $4,649,000 ($0.57 EPS) in the prior quarter. Year-over-year, this figure increased from $2,709,000 ($0.33 EPS). The decrease was due to a prior loan loss provision reversal. Net interest income rose to $12,242,000, aided by $2,590,000 from Paycheck Protection Program (PPP) loans. Total assets reached $1.67 billion, a $153.9 million increase from the prior quarter. The allowance for loan losses decreased to 1.10%. Non-performing assets stood at $362,000, up from zero NPA last quarter.
Oak Valley Bancorp (NASDAQ: OVLY) reported impressive financial results for Q4 2020, with net income reaching $4.65 million or $0.57 per share, up from $3.75 million or $0.46 in the previous quarter. Annual net income increased by 9.6% to $13.69 million or $1.68 per share, aided by $244 million in PPP loans that generated $2.15 million in income for the quarter. Non-performing assets were reduced to zero, and total assets grew to $1.51 billion.
Oak Valley Bancorp (NASDAQ: OVLY) has promoted Mike Garcia and Jeff Hushaw to Senior Vice President, Commercial Lending. Both have significantly contributed to the bank's commercial loan portfolio growth. Garcia, with nearly 20 years of experience, has been recognized for facilitating the largest SBA 504 loans in 2019 and 2020. Hushaw brings over 30 years of lending experience to the firm. Oak Valley operates through 17 branches and offers various loan and deposit products to individuals and small businesses throughout Central Valley.
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