Oak Valley Bancorp Q3 net income $6.8M ($0.83 EPS), up 49% YoY

Oak Valley Bancorp

2022-Q3 EPS reported $1.64

Net income $6.8M ($0.83 diluted EPS) vs $4.6M ($0.56) in Q3 2021; nine-month net income $13.4M ($1.64 EPS).
Net interest income $16.8M, up 26% sequentially; net interest margin expanded to 3.61% from 2.98%.
Total assets $1.96B; gross loans $912M; deposits $1.83B; non-performing assets remained at zero.
Allowance for loan losses 1.21% of gross loans; $200K provision added during the quarter.
YTD investment portfolio grew by $315M and loan portfolio by $52M, benefiting from FOMC rate hikes.

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