earnings
confidence high
sentiment neutral
materiality 0.70
Oak Valley Bancorp Q3 net income $7.32M ($0.89 EPS), up sequentially; net interest margin narrows to 4.04%
Oak Valley Bancorp
2024-Q3 EPS reported
$2.30
- Net income $7.32M ($0.89 diluted EPS) vs $5.89M ($0.71) prior quarter and $7.35M ($0.89) Q3 2023.
- Net interest margin 4.04% vs 4.11% prior quarter and 4.34% a year ago; average cost of funds rose to 0.83% from 0.33%.
- Loan recoveries of $2.0M from two recession-era loans led to $1.62M reversal of provision for credit losses.
- Gross loans $1.08B, up $103.9M YoY; deposits $1.69B, up $23.8M YoY; non-performing assets remained at zero.
- YTD net income $18.94M ($2.30 EPS) compared to $24.98M ($3.04 EPS) same period last year.