Oak Valley Bancorp Q1 net income $5.7M ($0.69 EPS) down 38% YoY; NIM 4.09%

Oak Valley Bancorp

2024-Q1 EPS reported $0.69

Net income $5.727M ($0.69 diluted EPS) vs $9.225M ($1.12) Q1 2023, down 38% YoY.
Net interest margin 4.09% vs 4.39% year ago; average cost of funds 68 bps vs 10 bps.
Loans grew $22.9M QoQ to $1.04B; deposits fell $38.1M QoQ to $1.61B.
Non-performing assets remained at zero; no provision for credit losses recorded.
Non-interest expense rose to $11.529M from $9.757M YoY on staffing and operating 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 1.0

Oak Valley Bancorp reported For the three months ended March 31, 2024 results: net income 5,727,000, EPS 0.69.

Period: For the three months ended March 31, 2024
Net income: 5,727,000
EPS: 0.69
Result: reported results

Exact text from the filing

For the three months ended March 31, 2024, consolidated net income was $5,727,000, or $0.69 per diluted share (EPS).

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Oak Valley Bancorp filing history →

Source: SEC EDGAR

accession 0001437749-24-012695

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