Oak Valley Bancorp
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 1, 2024
OVLY$34.68+1.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of cash flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| YEAR ENDED DECEMBER 31, | ||
|---|---|---|
| (dollars in thousands) | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $30,848 | $22,902 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for (reversal of) credit losses | 970 | (1,350) |
| Increase (decrease) in deferred fees/costs, net | 151 | (197) |
| Depreciation | 1,329 | 1,312 |
| Amortization of investment securities, net | 1,151 | 1,328 |
| Unrealized (gain) loss on equity securities | (41) | 475 |
| Amortization of operating lease right-of-use asset | (231) | (161) |
| Stock based compensation | 533 | 622 |
| Gain on sales and calls of available for sale securities | (156) | 0 |
| Earnings on cash surrender value of life insurance | (788) | (749) |
| Increase (decrease) in deferred tax asset | 706 | (489) |
| (Decrease) increase in interest payable and other liabilities | (1,411) | 875 |
| Increase in interest receivable | (456) | (3,872) |
| Decrease in other assets | 454 | 2,110 |
| Net cash provided by operating activities | 33,059 | 22,806 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of available for sale securities | (40,660) | (358,845) |
| Purchases of equity securities | (101) | (74) |
| Proceeds from the sale of available-for-sale securities | 42,791 | 0 |
| Proceeds from maturities, calls, and principal paydowns of securities available for sale | 22,662 | 40,558 |
| Investment in LIHTC | (373) | (1,241) |
| Net increase in loans | (100,709) | (55,641) |
| Purchase of FHLB Stock | (720) | 0 |
| Redemption of FHLB stock | 0 | 257 |
| Purchase of BOLI policies | (500) | 0 |
| Purchases of premises and equipment | (1,894) | (1,190) |
| Net cash used in investing activities | (79,504) | (376,176) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Federal funds advances | 1,855 | 0 |
| Federal funds payments | (1,855) | 0 |
| Shareholder cash dividends paid | (2,646) | (2,474) |
| Net (decrease) increase in demand deposits and savings accounts | (179,098) | 7,655 |
| Net increase (decrease) in time deposits | 15,335 | (324) |
| Tax withholding payments on vested restricted shares surrendered | (211) | (121) |
| Net cash (used in) provided by financing activities | (166,620) | 4,736 |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (213,065) | (348,634) |
| CASH AND CASH EQUIVALENTS, beginning of period | 429,633 | 778,267 |
| CASH AND CASH EQUIVALENTS, end of period | $216,568 | $429,633 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Interest | $4,715 | $1,119 |
| Operating leases | $1,469 | $1,331 |
| Income taxes | $10,449 | $3,910 |
| NON-CASH INVESTING ACTIVITIES: | ||
| Change in unrealized gain (loss) on securities | $16,428 | $(52,410) |
| Change in contributions payable to LIHTC limited partner investment | $0 | $10,500 |
| Right-of-use asset obtained in exchange for new operating lease liability | $(390) | $(2,389) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.