Welcome to our dedicated page for Oak Valley Bancorp news (Ticker: OVLY), a resource for investors and traders seeking the latest updates and insights on Oak Valley Bancorp stock.
Oak Valley Bancorp (NASDAQ: OVLY) is a well-established bank holding company headquartered in Oakdale, California. It operates through its subsidiary, Oak Valley Community Bank, and offers a comprehensive range of financial services to businesses and individuals. With a unique style of service that attracts small to medium-sized businesses, professionals, and individuals, Oak Valley Community Bank has grown significantly since its inception.
Located in the heart of California’s Central Valley, Oak Valley Bancorp serves a growing footprint that spans five counties and extends into the Eastern Sierra Nevada. The company's commitment to a team philosophy and promoting from within has contributed to its long-term growth strategy. This strategy includes a well-thought-out de novo branch approach referred to as the “rolling 10-year plan.” Over its 24-year history, this plan has transformed Oak Valley Bancorp from a single branch operation to a network of 15 locations, with a 16th branch under construction, and nearly $800 million in assets.
Oak Valley Community Bank offers a variety of business checking and savings accounts, commercial and real estate loans, and lines of credit. They also provide a wide range of additional services for both businesses and individuals, including online banking, remote deposit capture, mobile banking, merchant services, night depository, extended hours, wire transfers, note collection, and access to a national network of automated teller machines.
Known for its strong community ties and culture of service, Oak Valley Bancorp has the distinction of being the only NASDAQ-traded company headquartered in Stanislaus County. The company's primary source of revenue is net interest income, reflecting its robust financial health and effective management practices.
The latest updates on Oak Valley Bancorp's performance, events, and developments are crucial for stakeholders and potential investors seeking relevant and timely information about the company.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has appointed Cesar Camarillo as the new Vice President and Branch Manager of its 12th & I Branch in Modesto, effective March 30, 2022. With nearly 17 years in the banking sector and extensive local experience, Camarillo will oversee branch operations and pursue business development in the area. Julie DeHart from the Retail Banking Group expressed excitement about Camarillo's community ties and relationship-building skills. The bank operates 17 branches and plans to expand further.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has promoted Lisa Melville to Vice President, Commercial Loan Officer, based in the Downtown Sonora Branch. With over 40 years in banking and nearly 20 in commercial banking, Melville has been pivotal in serving clients across Tuolumne County and supporting local businesses with PPP loan applications. The bank operates through 17 branches and has received approval to open a new branch in Roseville later this year.
Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), has promoted Kim Karp to Assistant Vice President, Branch Manager of the Escalon Branch. With nearly 20 years of banking experience, Karp's role focuses on growth and business development in the local community. She previously managed customer service and received the Customer Service Manager of the Year award in 2017. The bank continues to expand, having received approval for a new full-service branch in Roseville later this year.
Oak Valley Bancorp (NASDAQ: OVLY) reported a fourth-quarter net income of $3,466,000 ($0.42 EPS), down from $4,554,000 ($0.56 EPS) in Q3 2021 and $4,649,000 ($0.57 EPS) year-over-year. For the full year, net income rose 19.4% to $16,337,000 ($2.00 EPS), largely due to PPP loan interest. A cash dividend of $0.15 per share will be paid on February 11, 2022, totaling approximately $1,236,000. Total assets reached $1.96 billion, with deposits increasing by $105.8 million since Q3 2021.
Oak Valley Community Bank, part of Oak Valley Bancorp (NASDAQ: OVLY), has appointed Dean Baldwin as Vice President, Commercial Loan Officer at its Sacramento-Capitol Mall branch. With nearly 30 years of banking experience, Baldwin will specialize in commercial lending and business development. The bank continues to expand, having recently received regulatory approval to open a new office in Roseville in Q1 2022. Oak Valley operates 17 branches and offers a range of loan and deposit products for individuals and businesses.
Oak Valley Bancorp announced the promotion of Rick McCarty to President and Chief Operating Officer effective January 1, 2022. McCarty, who has more than 22 years of experience with the bank, previously served as Senior EVP and Chief Operating Officer. His leadership has been pivotal in the bank's mission-critical functions and overall success, according to President & CEO Christopher M. Courtney. The bank operates 17 branches and has recently received regulatory approval to open a new office in Roseville in the first quarter of 2022.
On November 1, 2021, Gary Strong joined the Boards of Directors of Oak Valley Bancorp (NASDAQ: OVLY) and its subsidiary, Oak Valley Community Bank. Strong, the CEO of the American Red Cross for the California Gold Country Region since 2015, brings extensive experience in finance and community leadership. He aims to enhance the bank’s growth in the Sacramento Region. The bank is set to open a new office in Roseville in Q1 2022, expanding its 17 branches across California, offering comprehensive financial services to individuals and small businesses.
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.
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