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

Issuer:     Oak Valley Bancorp (OVLY)
CIK:        0001431567
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001437749-24-031568
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oak Valley Bancorp Q3 net income $7.32M ($0.89 EPS), up sequentially; net interest margin narrows to 4.04%
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1431567/000143774924031568/0001437749-24-031568-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1431567/000143774924031568/ovly20241018_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-031568

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