Oak Valley Bancorp [ca] ( (OVLY) ) has released its Q4 earnings. Here is a breakdown of the information Oak Valley Bancorp [ca] presented to its investors.
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Oak Valley Bancorp is a bank holding company that operates through Oak Valley Community Bank and its Eastern Sierra Community Bank division, providing a range of loan and deposit products to individuals and small businesses across California.
In its latest earnings report, Oak Valley Bancorp announced a consolidated net income of $6.008 million for the fourth quarter of 2024, translating to an earnings per share of $0.73. This marks a decrease from the previous quarter but an increase compared to the same period last year. The company also declared a cash dividend of $0.30 per share, payable in February 2025.
Key financial highlights from the report include a year-over-year loan growth of $90 million, despite a decline in net interest income due to increased deposit interest expenses. The company’s net interest margin for 2024 was reported at 4.07%, down from 4.33% in the previous year, reflecting the increased cost of funds. Total assets reached $1.90 billion by year-end, with non-performing assets maintaining a zero balance throughout the year.
Despite challenges such as higher deposit interest expenses and general operating costs, Oak Valley Bancorp has shown resilience with stable credit quality and a strong liquidity position, highlighted by cash and cash equivalents of $168.8 million at year-end.
Looking ahead, Oak Valley Bancorp remains committed to its relationship banking model, with a focus on maintaining sound credit quality standards amid evolving economic conditions. The management remains optimistic about navigating the financial landscape while continuing to deliver value to its shareholders.
