Oak Valley Bancorp

For the period ended Mar 31, 2026. Filed May 12, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 12, 2026

OVLY$34.68+1.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in thousands)	March 31, 2026	December 31, 2025
(Unaudited)
ASSETS
Cash and due from banks	$155,553	$203,099
Federal funds sold	46,050	29,080
Cash and cash equivalents	201,603	232,179
Securities - available for sale	555,047	543,532
Securities - equity investments	3,434	3,424
Loans, net of allowance for credit losses of $12,910 and $12,381 at March 31, 2026 and December 31, 2025, respectively	1,132,713	1,129,606
Cash surrender value of life insurance	39,203	36,899
Bank premises and equipment, net	18,868	19,047
Goodwill and other intangible assets, net	3,313	3,313
Deferred tax asset	15,227	13,578
Interest receivable and other assets	40,891	41,538
	$2,010,299	$2,023,116
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	$1,780,996	$1,792,962
Interest payable and other liabilities	23,149	22,179
Total liabilities	1,804,145	1,815,141
Shareholders’ equity
Common stock, no par value; 50,000,000 shares authorized, 8,413,458 and 8,388,221 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	25,435	25,435
Additional paid-in capital	6,762	6,819
Retained earnings	196,556	194,393
Accumulated other comprehensive loss, net of tax	(22,599)	(18,672)
Total shareholders’ equity	206,154	207,975
	$2,010,299	$2,023,116

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(dollars in thousands, except per share amounts)	THREE MONTHS ENDED MARCH 31,
	2026	2025
INTEREST INCOME
Interest and fees on loans	$15,071	$13,989
Interest on securities	5,435	5,374
Interest on federal funds sold	258	350
Interest on deposits with banks	1,461	1,403
Total interest income	22,225	21,116
INTEREST EXPENSE
Deposits	3,401	3,309
Total interest expense	3,401	3,309
Net interest income	18,824	17,807
Provision for credit losses	464	274
Net interest income after provision for credit losses	18,360	17,533
NON-INTEREST INCOME
Service charges on deposits	440	446
Debit card transaction fee income	408	396
Earnings on cash surrender value of life insurance	304	288
Mortgage commissions	11	9
Loss on calls of available-for-sale securities	(5)	0
Other	794	474
Total non-interest income	1,952	1,613
NON-INTEREST EXPENSE
Salaries and employee benefits	8,562	7,750
Occupancy expenses	1,394	1,127
Data processing fees	837	742
Regulatory assessments	295	285
Other operating expenses	2,418	2,446
Total non-interest expense	13,506	12,350
Net income before provision for income taxes	6,806	6,796
Total provision for income taxes	1,497	1,499
Net Income	$5,309	$5,297
Net income per share	$0.64	$0.64
Net income per diluted share	$0.64	$0.64

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

	THREE MONTHS ENDED MARCH 31,
(dollars in thousands)	2026	2025
Net income	$5,309	$5,297
Other comprehensive loss:
Unrealized holding loss arising during the period	(5,581)	(3,787)
Less: reclassification for net loss included in net income	5	0
Other comprehensive loss, before tax	(5,576)	(3,787)
Tax benefit related to items of other comprehensive income	1,649	1,120
Total other comprehensive loss	(3,927)	(2,667)
Comprehensive income	$1,382	$2,630

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’** EQUITY (UNAUDITED)**

Accumulated
Additional · Other · Total
Common Stock · Paid-in · Retained · Comprehensive · Shareholders'
(dollars in thousands)	Shares	Amount	Capital	Earnings	Loss	Equity
Balances, January 1, 2026	8,388,221	$25,435	$6,819	$194,393	$(18,672)	$207,975
Restricted stock issued	34,859	0	0	0	0	0
Restricted stock surrendered for tax withholding	(9,622)	0	(309)	0	0	(309)
Cash dividends declared $0.375 per share of common stock	0	0	0	(3,146)	0	(3,146)
Stock based compensation	0	0	252	0	0	252
Other comprehensive loss	0	0	0	0	(3,927)	(3,927)
Net income	0	0	0	5,309	0	5,309
Balances, March 31, 2026	8,413,458	$25,435	$6,762	$196,556	$(22,599)	$206,154
Balances, January 1, 2025	8,357,211	$25,435	$6,199	$175,502	$(23,700)	$183,436
Restricted stock issued	34,883	0	0	0	0	0
Restricted stock forfeited	(1,200)	0	0	0	0	0
Restricted stock surrendered for tax withholding	(8,832)	0	(240)	0	0	(240)
Cash dividends declared $0.30 per share of common stock	0	0	0	(2,507)	0	(2,507)
Stock based compensation	0	0	201	0	0	201
Other comprehensive loss	0	0	0	0	(2,667)	(2,667)
Net income	0	0	0	5,297	0	5,297
Balances, March 31, 2025	8,382,062	$25,435	$6,160	$178,292	$(26,367)	$183,520

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(dollars in thousands)	THREE MONTHS ENDED MARCH 31,
	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$5,309	$5,297
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	464	274
Increase in deferred fees/costs, net	(114)	(204)
Depreciation	391	331
Amortization of investment securities, net	211	195
Unrealized loss (gain) on equity securities	22	(59)
Amortization of operating lease right-of-use asset	(59)	(59)
Stock based compensation	252	201
Loss on calls of available-for-sale securities	5	0
Earnings on cash surrender value of life insurance	(304)	(288)
Increase in deferred tax asset	(1,649)	(1,120)
Increase in interest payable and other liabilities	949	1,315
Decrease in interest receivable	406	352
Decrease in other assets	2,174	2,007
Net cash provided by operating activities	8,057	8,242
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale securities	(29,671)	0
Purchases of equity securities	(32)	(29)
Proceeds from maturities, calls, and principal paydowns of available-for-sale-securities	12,364	3,829
Investment in LIHTC	(204)	(1,174)
Net (increase) decrease in loans	(3,457)	15,704
Purchase of BOLI policies	(2,000)	0
Purchases of premises and equipment	(212)	(1,179)
Net cash (used in) provided by investing activities	(23,212)	17,151
CASH FLOWS FROM FINANCING ACTIVITIES:
Shareholder cash dividends paid	(3,146)	(2,507)
Net (decrease) increase in demand deposits and savings accounts	(19,919)	11,379
Net increase in time deposits	7,953	6,523
Tax withholding payments on vested restricted shares surrendered	(309)	(240)
Net cash (used in) provided by financing activities	(15,421)	15,155
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(30,576)	40,548
CASH AND CASH EQUIVALENTS, beginning of period	232,179	168,751
CASH AND CASH EQUIVALENTS, end of period	$201,603	$209,299
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest	$3,365	$3,301
Operating leases	$410	$379
NON-CASH INVESTING ACTIVITIES:
Change in unrealized loss on securities	$(5,576)	$(3,787)
Change in contributions payable to LIHTC limited partner investment	$0	$5,000
Right-of-use asset obtained in exchange for new operating lease liability	$(225)	$(634)

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