secwatch.observer — SEC 8-K summary
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Issuer:     Oak Valley Bancorp (OVLY)
CIK:        0001431567
Form:       8-K
Filed at:   2023-04-21T23:59:59+00:00
Accession:  0001437749-23-010805
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1431567/000143774923010805/0001437749-23-010805-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1431567/000143774923010805/ovly20230421_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-010805

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer