Oak Valley Bancorp · Q3 2023 earnings

Briefing

Oak Valley Bancorp reported third quarter results with a net income of $7.35 million and EPS of $0.89.

Oak Valley Bancorp reported a net income of $7.35 million, or $0.89 per diluted share, for the third quarter of 2023. This compares to $8.40 million, or $1.02 EPS, for the prior quarter and $6.80 million, or $0.83 EPS, for the same period a year ago. The decrease in net income compared to the prior quarter was primarily due to an increase in deposit interest expense, a credit loss provision, and an increase in non-interest expense.

• Net income for Q3 2023 was $7.35 million, or $0.89 per diluted share.
• Net interest income for Q3 2023 was $18.94 million.
• Total assets were $1.84 billion as of September 30, 2023.
• Gross loans were $971.2 million as of September 30, 2023.

Headline financials

Revenue & EPS history

The press release includes forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the corporation's possible or assumed future financial condition, and its results of operations and business.