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Oak Valley Bancorp [Ca] ( (OVLY) ) has provided an update.
Oak Valley Bancorp reported its fourth quarter and full-year 2024 financial results, disclosing a consolidated net income of $6,008,000 for the fourth quarter and $24,948,000 for the year, reflecting a decrease from the previous year. The decrease was attributed to higher deposit interest expenses and general operating costs, despite loan growth and a reversal of credit loss provisions. The company declared a cash dividend of $0.30 per share, payable on February 14, 2025. Oak Valley Bancorp maintained a strong liquidity position with zero non-performing assets and stable credit quality, while the allowance for credit losses decreased due to favorable economic conditions and loan growth.
More about Oak Valley Bancorp [Ca]
Oak Valley Bancorp operates through Oak Valley Community Bank and its Eastern Sierra Community Bank division, providing a variety of loan and deposit products to individuals and small businesses. The company has 18 branches located in California, specifically in areas such as Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, Sonora, Modesto, and the Eastern Sierra region.
YTD Price Performance: -5.34%
Average Trading Volume: 12,118
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $217.7M
For detailed information about OVLY stock, go to TipRanks’ Stock Analysis page.
