secwatch.observer — SEC 8-K summary
======================================

Issuer:     Oak Valley Bancorp (OVLY)
CIK:        0001431567
Form:       8-K
Filed at:   2023-10-20T23:59:59+00:00
Accession:  0001437749-23-028660
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1431567/000143774923028660/0001437749-23-028660-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1431567/000143774923028660/ovly20231019_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-028660

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