Oak Valley Bancorp, functioning as the parent entity for Oak Valley Community Bank, offers a comprehensive range of commercial banking services. These services are provided to both individual clients and small to mid-sized businesses, primarily operating within California's Central Valley and Eastern Sierras regions. The institution's financial products encompass various deposit options, including checking, savings, money market, health savings accounts (HSAs), individual retirement accounts (IRAs), and certificates of deposit (CDs). For its lending activities, the bank extends financing for commercial real estate, general business operations, trade activities, and also facilitates Small Business Administration (SBA) loans. On the consumer side, loan offerings include vehicle financing, home mortgages, revolving lines of credit, and diverse personal loan solutions. Beyond these core services, the company provides a suite of conveniences such as online and mobile banking, remote deposit capture, merchant services, night depository facilities, extended operating hours, wire transfers, and note collection, complemented by automated teller machines. As of December 31, 2021, Oak Valley Bancorp's operational footprint included seventeen full-service branch offices across various Californian cities, specifically Oakdale, Sonora, Bridgeport, Bishop, Mammoth Lakes, Modesto, Manteca, Patterson, Turlock, Tracy, Ripon, Stockton, Escalon, and Sacramento. Founded in 1990, the company's corporate headquarters are situated in Oakdale, California.
Oak Valley Bancorp Reports 2nd Quarter Results and Announces Cash Dividend
Oak Valley Bancorp reported Q2 diluted EPS of $0.61, down from $0.67 in the year-ago period, as a 14% increase in non-interest expenses weighed on profitability despite growth in net interest income.
The board declared a cash dividend of $0.375 per share, payable August 14, while the balance sheet showed continued loan growth and a net interest margin of 4.15%.
Credit quality metrics softened slightly, with non-performing assets totaling $2.6 million or 0.13% of total assets, compared to zero NPAs in the prior year, following a $1.7 million charge-off on a single collateral-dependent loan.