Oak Valley Bancorp [Ca] ( (OVLY) ) just unveiled an announcement.
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Oak Valley Bancorp reported a robust third quarter with a net income increase to $7.3 million, driven by loan recoveries that reversed credit loss provisions. Despite higher deposit interest expenses, the bank’s loan growth and asset yield improvements bolstered net interest income. The firm maintains strong liquidity and zero non-performing assets, while focusing on service-driven relationship banking to enhance its competitive edge.
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