Oak Valley Bancorp Q1 net income $9.2M ($1.12 EPS), down 2.6% from Q4 but up 289% YoY

Oak Valley Bancorp

2023-Q1 EPS reported $1.12

Net interest income rose to $19.5M from $19.1M in Q4 and $11.0M a year ago; NIM expanded to 4.39%.
Gross loans increased $11.1M sequentially to $926.8M; deposits declined $45.1M to $1.77B.
Loan-loss provision reversed $460K in Q1 due to improved credit metrics; NPAs remained at zero.
Cash equivalents totaled $389M; management cites strong liquidity despite recent banking industry events.
Non-interest expense rose to $9.76M from $9.61M in Q4, driven by staffing and new Roseville branch costs.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Oak Valley Bancorp reported the quarter ended March 31, 2023 results: net income $9,225,000, EPS $1.12.

Period: the quarter ended March 31, 2023
Net income: $9,225,000
EPS: $1.12
Result: reported results

Exact text from the filing

For the three months ended March 31, 2023, consolidated net income was $9,225,000, or $1.12 per diluted share (EPS).

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Oak Valley Bancorp filing history →

Source: SEC EDGAR

accession 0001437749-23-010805

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