Oak Valley Bancorp

For the period ended Dec 31, 2023. Filed Apr 1, 2024.

About this filing

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

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Contents

Statements of income

CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share amounts)	YEAR ENDED DECEMBER 31,
	2023	2022
INTEREST INCOME
Interest and fees on loans	$44,773	$38,887
Interest on securities	20,578	14,155
Interest on federal funds sold	1,414	415
Interest on deposits with banks	13,901	7,738
Total interest income	80,666	61,195
INTEREST EXPENSE
Deposits	4,863	1,119
Federal funds purchased	1	0
Total interest expense	4,864	1,119
Net interest income	75,802	60,076
Provision for (reversal of) credit losses	970	(1,350)
Net interest income after provision for (reversal of) credit losses	74,832	61,426
NON-INTEREST INCOME
Service charges on deposits	1,813	1,596
Debit card transaction fee income	1,773	1,734
Earnings on cash surrender value of life insurance	788	749
Mortgage commissions	20	73
Gains on sales and calls of available-for-sale securities	156	0
Other	2,081	1,419
Total non-interest income	6,631	5,571
NON-INTEREST EXPENSE
Salaries and employee benefits	26,109	23,045
Occupancy expenses	4,541	4,151
Data processing fees	2,729	2,343
Regulatory assessments (FDIC & DFPI)	1,020	927
Other operating expenses	6,758	6,842
Total non-interest expense	41,157	37,308
Net income before provision for income taxes	40,306	29,689
Total provision for income taxes	9,458	6,787
Net Income	$30,848	$22,902
Net income per share	$3.76	$2.80
Net income per diluted share	$3.75	$2.79

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.