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 (NASDAQ: OVLY) is the bank holding company for Oak Valley Community Bank and its Eastern Sierra Community Bank division, which offer loan and deposit products to individuals and small businesses. The OVLY news page on Stock Titan aggregates company-issued updates and market news so readers can follow how this commercial banking institution communicates its performance, growth, and community activities.
Recent Oak Valley Bancorp and Oak Valley Community Bank news releases highlight several recurring themes. The company regularly announces quarterly financial results, detailing net interest income, non-interest income, non-interest expense, and key balance sheet metrics. These earnings updates, sometimes furnished via Form 8-K, provide insight into trends in earning assets, loan growth, deposit balances, and credit quality, including non-performing asset levels and allowance for credit losses.
Another major news category involves branch expansion and local leadership appointments. Oak Valley Community Bank has reported the opening of new full-service branches, such as its nineteenth branch in Lodi, and frequently announces the hiring of branch managers in markets including Stockton, Tracy, East Sonora, Modesto–McHenry, and Lodi. These stories describe how branch leaders are tasked with guiding operations, nurturing client relationships, and supporting the financial needs of local businesses and residents.
Oak Valley Bancorp’s news flow also covers community reinvestment and partnership initiatives. For example, the bank has announced approval of an AHEAD grant submitted on behalf of City Ministry Network to the Federal Home Loan Bank of San Francisco, aimed at workforce development and leadership programs for Latino youth in Stanislaus and San Joaquin Counties. Other releases discuss promotions within the Community Reinvestment Act (CRA) function and ongoing engagement with local organizations.
Investors, depositors, and community stakeholders can use the OVLY news page to monitor these earnings announcements, branch developments, leadership changes, and community-focused programs in one place, and revisit the historical archive of company communications over time.
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.
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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.
Oak Valley Bancorp (NASDAQ: OVLY) has announced the promotions of Julie DeHart and Cathy Ghan to Executive Vice Presidents in their respective divisions. DeHart, who joined in 2005, has demonstrated leadership in Retail Banking, while Ghan, who joined in 2007, has been integral to the Commercial Real Estate department's expansion. Both executives have extensive experience and community involvement, reflecting the bank's commitment to growth and service. Oak Valley operates 17 branches across California, offering diverse financial products to individuals and businesses.
On December 15, 2020, Lynn Reeves Dickerson was appointed to the Board of Directors of Oak Valley Bancorp (NASDAQ: OVLY), effective January 5, 2021. Dickerson, who has been the CEO of the Gallo Center for the Arts since 2009, brings extensive experience from her 29-year career in the newspaper industry, including roles as Publisher & President of The Modesto Bee and Vice President of Operations at McClatchy Company. She expressed excitement about joining the Board and contributing to the company's growth and success.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced the appointment of Kim Parco as Vice President and Commercial Loan Officer at the Tracy Branch. With over 30 years of commercial banking experience, Parco will handle commercial and agricultural lending, SBA loans, and relationship management. Her extensive knowledge of the local market has been highlighted as a key asset. Oak Valley Bancorp operates multiple branches and offers a variety of loan and deposit products for individuals and small businesses.
Oak Valley Community Bank has been awarded the title of “Most Active SBA 504 Lending Partner” by Success Capital for 2020, marking the fifth consecutive year the bank has received this honor. The bank facilitated nearly $8 million in loans, contributing to over $21 million in funded projects across five counties. Additionally, Mike Garcia received recognition for the “Largest SBA 504 Loan.” These awards reflect Oak Valley's commitment to supporting the local small business community and highlight the efforts of its dedicated staff.