Oak Valley Bancorp Q3 net income $7.35M ($0.89 EPS); net interest margin contracts to 4.34%

Oak Valley Bancorp

2023-Q3 EPS reported $3.04

Net income $7.354M ($0.89 EPS) vs $8.404M ($1.02) prior quarter and $6.8M ($0.83) year ago.
Net interest income $18.938M vs $19.407M prior quarter; net interest margin 4.34% (down from 4.45%).
Gross loans $971.2M (+$20.8M QoQ, +$59.0M YoY); deposits $1.67B (-$15.8M QoQ, -$164.3M YoY).
Non-performing assets remain at zero; allowance for credit losses at 1.00% of gross loans.
$300K provision for credit losses driven by loan growth and macro-economic conditions.

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 three months ended September 30, 2023 results: net income $7,354,000, EPS $0.89 per diluted share.

Period: the three months ended September 30, 2023
Net income: $7,354,000
EPS: $0.89 per diluted share
Result: reported results

Exact text from the filing

For the three months ended September 30, 2023, consolidated net income was $7,354,000, or $0.89 per diluted share (EPS), as compared to $8,404,000, or $1.02 EPS, for the prior quarter and $6,800,000, or $0.83 EPS, for the same period a year ago.

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Source: SEC EDGAR

accession 0001437749-23-028660

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