secwatch.observer — SEC 8-K summary
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Issuer:     Oak Valley Bancorp (OVLY)
CIK:        0001431567
Form:       8-K
Filed at:   2024-04-22T23:59:59+00:00
Accession:  0001437749-24-012695
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1431567/000143774924012695/0001437749-24-012695-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1431567/000143774924012695/ovly20240419_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-012695

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