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Oak Valley Bancorp Q1 Profit Rises

Oak Valley Bancorp (NASDAQ: OVLY), Friday reported first-quarter consolidated net income available to common shareholders of $1.29 million or $0.17 per share, compared to $955 thousand or $0.12 per share in the same period a year ago.

Oak Valley, the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, said net interest income increased about 1 percent to $6.3 million from $6.2 million last year. Net interest margin dropped to 4.67 percent from 4.92 percent last year.

Provisions for loan losses was slashed down to $300 thousand from $600 thousand last year.

by RTTNews Staff Writer

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