Announcement • May 02
Oak Valley Bancorp, Annual General Meeting, Jun 16, 2026 Oak Valley Bancorp, Annual General Meeting, Jun 16, 2026. Location: 388 east f street, oakdale, california 95361, United States Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: US$0.64 (vs US$0.64 in 1Q 2025) First quarter 2026 results: EPS: US$0.64 (in line with 1Q 2025). Revenue: US$20.3m (up 4.6% from 1Q 2025). Net income: US$5.31m (flat on 1Q 2025). Profit margin: 26% (down from 27% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Mar 26
Full year 2025 earnings released: EPS: US$2.90 (vs US$3.04 in FY 2024) Full year 2025 results: EPS: US$2.90 (down from US$3.04 in FY 2024). Revenue: US$80.9m (up 3.5% from FY 2024). Net income: US$23.9m (down 4.1% from FY 2024). Profit margin: 30% (down from 32% in FY 2024). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 4.13% (up from 4.07% in FY 2024). Cost-to-income ratio: 59.7% (up from 58.2% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Declared Dividend • Jan 28
Final dividend increased to US$0.38 Dividend of US$0.38 is 25% higher than last year. Ex-date: 2nd February 2026 Payment date: 13th February 2026 Dividend yield will be 2.1%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 27
Full year 2025 earnings released: EPS: US$2.90 (vs US$3.04 in FY 2024) Full year 2025 results: EPS: US$2.90 (down from US$3.04 in FY 2024). Revenue: US$80.9m (up 3.5% from FY 2024). Net income: US$23.9m (down 4.1% from FY 2024). Profit margin: 30% (down from 32% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Jan 27
Oak Valley Bancorp and Oak Valley Community Bank Announces Chief Executive Officer Changes, Effective June 30, 2026 Oak Valley Bancorp, the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, announced that Christopher M. Courtney has notified the Boards of his intention to retire as Chief Executive Officer of both entities on June 30, 2026. Courtney joined Oak Valley Community Bank in 1996 and served in several executive leadership roles, including EVP Chief Operating Officer and EVP Chief Credit Officer. He became President in 2004 and Chief Executive Officer in 2013. He will continue to serve on the Boards of Directors, providing guidance to support Oak Valley’s continued success. During his tenure, Courtney helped lead the Bank’s expansion from a two branch de novo institution with $45 million in assets to a full service, nineteen branch community bank with more than $2 billion in assets. He played a key role in establishing strong standards for credit quality, service, community engagement, employee support, and long-term sustainability. In conjunction with the announcement, the Boards confirmed that Richard A. McCarty, current President and Chief Operating Officer, will assume the role of President and Chief Executive Officer upon Courtney’s retirement. McCarty has been with the Bank for over 26 years and has held key leadership roles including Chief Financial Officer, Chief Administrative Officer, and Senior Executive Vice President and Chief Operating Officer. He has served on the Boards of Directors since 2024. Announcement • Jan 24
Oak Valley Bancorp Announces Cash Dividend, Payable on February 13, 2026 The Board of Directors of Oak Valley Bancorp at their January 20, 2026 meeting, declared the payment of a cash dividend of $0.375 per share of common stock to its shareholders of record at the close of business on February 2, 2026. The payment date will be February 13, 2026. Announcement • Jan 22
Oak Valley Community Bank Makes Leadership Team Promotions Oak Valley Bancorp reported the promotions of Bill Nunes to Executive Vice President, Chief Marketing Officer, and Jose Sabala to Senior Vice President, Community Reinvestment Act (CRA) Officer. the company noted promotion details and highlights include: Bill Nunes -- Executive Vice President, Chief Marketing Officer. Nunes joined the Bank in 2005 and most recently served as Senior Vice President, Marketing Manager, overseeing both the Marketing and Community Reinvestment Act (CRA) departments. Throughout his tenure, he has been instrumental in elevating Oak Valley's brand while advancing community-focused initiatives. His promotion reflects his role in developing and executing the Bank's marketing and brand strategy, including advertising, communications, public relations, and strategic partnerships. Nunes currently serves on the board of Second Harvest of the Greater Valley and on the board of trustees for the Gallo Center for the Arts. He earned a Bachelor of Science degree in Marketing and Finance and an MBA from California State University, Stanislaus, and is a graduate of Pacific Coast Banking School. He resides in Patterson with his wife and family. Jose Sabala -- Senior Vice President, CRA Officer. Since joining the Bank in 2018, Sabala has significantly enhanced the Bank's CRA program through expanded outreach and strategic community partnerships. He oversees CRA compliance and execution, ensuring the program aligns with both regulatory expectations and Oak Valley's mission to serve and strengthen its communities. His efforts have supported economic development and improved access to credit for low- and moderate-income individuals, families, businesses, and neighborhoods across the Bank's service areas. Sabala is deeply involved in local community organizations, serving as Board Vice President of City Ministry Network, Board Chair of Access Plus Capital, a Grants committee member of the San Joaquin Community Foundation, and a board member of both the California Community Economic Development Association (CCEDA) and the Modesto Junior College Foundation. He holds a Bachelor of Science degree in Business Management from the University of Phoenix and resides in Modesto with his wife and children. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: US$0.81 (vs US$0.89 in 3Q 2024) Third quarter 2025 results: EPS: US$0.81 (down from US$0.89 in 3Q 2024). Revenue: US$21.2m (flat on 3Q 2024). Net income: US$6.69m (down 8.6% from 3Q 2024). Profit margin: 32% (down from 35% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: US$0.68 (vs US$0.72 in 2Q 2024) Second quarter 2025 results: EPS: US$0.68 (down from US$0.72 in 2Q 2024). Revenue: US$19.9m (up 4.2% from 2Q 2024). Net income: US$5.59m (down 5.1% from 2Q 2024). Profit margin: 28% (down from 31% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 23
Dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 28th July 2025 Payment date: 8th August 2025 Dividend yield will be 2.1%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 19
Oak Valley Bancorp Declares Cash Dividend, Payable on August 8, 2025 The Board of Directors of Oak Valley Bancorp at their July 15, 2025, meeting declared the payment of a cash dividend of $0.30 per share of common stock to its shareholders of record at the close of business on July 28, 2025. The payment date will be August 8, 2025 and will amount to approximately $2,515,000. Announcement • Jun 19
Oak Valley Bancorp and Oak Valley Community Bank Announce Director Retirements and New Director Appointment Oak Valley Bancorp announced the retirement of Thomas A. Haidlen and Danny L. Titus from the Bank and Company’s Boards of Directors, effective June 17, 2025. Concurrently, Erich A. Haidlen accepted his appointment to the Board of Directors of the Company and the Bank. T. Haidlen and Titus joined the board of Oak Valley Community Bank in 1991 and 1992 respectively. T. Haidlen was one of the original board members and Titus joined the original group shortly after the formation of the Bank; both were appointed directors of the holding company at the formation of Oak Valley Bancorp in 2008. E. Haidlen has been employed with Haidlen Ford Inc. in Oakdale, California since 1998. He is currently the General Manager and President. Prior to joining Haidlen Ford, he worked as a Financial Analyst at FMV Opinions Inc., where he performed valuations of majority and minority interests in operating companies, partnerships, and intangible assets. He holds a Bachelor of Arts in Economics from the University of California, Irvine, and is a 2002 graduate of the National Automobile Dealers Association. (NADA) Dealer Candidate Academy. E. Haidlen is a past President of the Oakdale Chamber of Commerce (2006–2007) and a former member of the Oakdale Economic Development Committee. He brings valuable business and financial expertise to the board, and as a fifth-generation resident of Stanislaus County, he offers extensive knowledge about the local community. E. Haidlen lives in Oakdale with his wife and their three children. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: US$0.64 (vs US$0.70 in 1Q 2024) First quarter 2025 results: EPS: US$0.64 (down from US$0.70 in 1Q 2024). Revenue: US$19.4m (up 3.5% from 1Q 2024). Net income: US$5.30m (down 7.5% from 1Q 2024). Profit margin: 27% (down from 31% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 15% per year. Recent Insider Transactions • May 01
Independent Director recently bought US$107k worth of stock On the 29th of April, Janet Pelton bought around 4k shares on-market at roughly US$25.09 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$380k more in shares than they have sold in the last 12 months. Announcement • Apr 30
Oak Valley Bancorp, Annual General Meeting, Jun 17, 2025 Oak Valley Bancorp, Annual General Meeting, Jun 17, 2025. Location: 338 east fstreet, oakdale, california 95361, United States Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: US$3.04 (vs US$3.77 in FY 2023) Full year 2024 results: EPS: US$3.04 (down from US$3.77 in FY 2023). Revenue: US$78.2m (down 4.0% from FY 2023). Net income: US$24.9m (down 19% from FY 2023). Profit margin: 32% (down from 38% in FY 2023). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 4.07% (down from 4.33% in FY 2023). Cost-to-income ratio: 60.1% (up from 49.9% in FY 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 02
Independent Chairman of Board recently bought US$156k worth of stock On the 29th of January, H. Holder bought around 6k shares on-market at roughly US$25.97 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. H. has been a buyer over the last 12 months, purchasing a net total of US$200k worth in shares. Declared Dividend • Jan 30
Final dividend increased to US$0.30 Dividend of US$0.30 is 33% higher than last year. Ex-date: 3rd February 2025 Payment date: 14th February 2025 Dividend yield will be 2.0%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 28
Full year 2024 earnings released: EPS: US$3.04 (vs US$3.77 in FY 2023) Full year 2024 results: EPS: US$3.04 (down from US$3.77 in FY 2023). Revenue: US$78.2m (down 4.0% from FY 2023). Net income: US$24.9m (down 19% from FY 2023). Profit margin: 32% (down from 38% in FY 2023). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 4.07% (down from 4.33% in FY 2023). Cost-to-income ratio: 60.1% (up from 48.8% in FY 2023). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 13% per year. Announcement • Jan 25
Oak Valley Bancorp Announces Cash Dividend, Payable on February 14, 2025 The Board of Directors of Oak Valley Bancorp at their January 21, 2025 meeting, declared the payment of a cash dividend of $0.30 per share of common stock to its shareholders of record at the close of business on February 3, 2025. The payment date will be February 14, 2025 and will amount to approximately $2,507,000. This is the first dividend payment made by the Company in 2025. Reported Earnings • Oct 20
Third quarter 2024 earnings released: EPS: US$0.89 (vs US$0.90 in 3Q 2023) Third quarter 2024 results: EPS: US$0.89 (down from US$0.90 in 3Q 2023). Revenue: US$21.1m (up 4.5% from 3Q 2023). Net income: US$7.32m (flat on 3Q 2023). Profit margin: 35% (down from 36% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 22
First half dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 29th July 2024 Payment date: 9th August 2024 Dividend yield will be 1.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 21
Second quarter 2024 earnings released: EPS: US$0.72 (vs US$1.03 in 2Q 2023) Second quarter 2024 results: EPS: US$0.72 (down from US$1.03 in 2Q 2023). Revenue: US$19.1m (down 9.5% from 2Q 2023). Net income: US$5.89m (down 30% from 2Q 2023). Profit margin: 31% (down from 40% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$27.62, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 11x in the Banks industry in the US. Total returns to shareholders of 67% over the past three years. Announcement • Jun 25
Oak Valley Bancorp and Oak Valley Community Bank Announce Retirement of Ronald C. Martin from the Boards of Directors, Effective June 30, 2024 Oak Valley Bancorp (the “Company”), the bank holding company for Oak Valley Community Bank (the “Bank”) and their Eastern Sierra Community Bank division, announced the retirement of Ronald C. Martin from the Bank and Company’s Boards of Directors, effective June 30, 2024. Martin joined Oak Valley Community Bank as President and Chief Executive Officer in 1992, shortly after its formation. In 2004, Martin passed the role of President to current CEO, Chris Courtney and retained the CEO title until his retirement in 2013 continuing to serve as Director for the ten years that followed. Martin played a pivotal role in building the Bank and shareholder confidence, particularly during the formative years. Announcement • Apr 28
Oak Valley Bancorp, Annual General Meeting, Jun 18, 2024 Oak Valley Bancorp, Annual General Meeting, Jun 18, 2024, at 14:00 Pacific Daylight. Location: 338 East F Street Oakdale California United States Agenda: To consider election of directors; to consider the ratification of the appointment of RSM US LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; and to consider such other business as may properly come before the Annual Meeting of Shareholders, and any adjournment or postponement. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: US$3.77 (vs US$2.80 in FY 2022) Full year 2023 results: EPS: US$3.77 (up from US$2.80 in FY 2022). Revenue: US$81.5m (up 22% from FY 2022). Net income: US$30.8m (up 35% from FY 2022). Profit margin: 38% (up from 34% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 4.33% (up from 3.32% in FY 2022). Cost-to-income ratio: 48.8% (down from 54.3% in FY 2022). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 24
Full year 2023 earnings released: EPS: US$3.76 (vs US$2.80 in FY 2022) Full year 2023 results: EPS: US$3.76 (up from US$2.80 in FY 2022). Revenue: US$81.5m (up 22% from FY 2022). Net income: US$30.8m (up 35% from FY 2022). Profit margin: 38% (up from 34% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jan 20
Oak Valley Bancorp Announces Cash Dividend, Payable on February 9, 2024 The Board of Directors of Oak Valley Bancorp at their January 16, 2024 meeting, declared the payment of a cash dividend of $0.225 per share of common stock to its shareholders of record at the close of business on January 29, 2024. The payment date will be February 9, 2024 and will amount to approximately $1,866,000. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: US$0.90 (vs US$0.83 in 3Q 2022) Third quarter 2023 results: EPS: US$0.90 (up from US$0.83 in 3Q 2022). Revenue: US$20.2m (up 11% from 3Q 2022). Net income: US$7.35m (up 8.1% from 3Q 2022). Profit margin: 36% (down from 37% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Aug 31
Independent Director recently sold US$483k worth of stock On the 29th of August, Ronald Martin sold around 20k shares on-market at roughly US$23.75 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$96k more than they bought in the last 12 months. Buying Opportunity • Jul 25
Now 21% undervalued Over the last 90 days, the stock is up 7.0%. The fair value is estimated to be US$35.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 31%. Announcement • Jul 23
Oak Valley Bancorp Declares Cash Dividend, Payable on August 11, 2023 The Board of Directors of Oak Valley Bancorp at their July 18, 2023, meeting declared the payment of a cash dividend of $0.16 per share of common stock to its shareholders of record at the close of business on July 31, 2023. The payment date will be August 11, 2023 and will amount to approximately $1,325,000. This is the second dividend payment made by the Company in 2023. Recent Insider Transactions • Jun 02
Independent Director recently bought US$115k worth of stock On the 31st of May, H. Holder bought around 5k shares on-market at roughly US$23.03 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$437k more in shares than they have sold in the last 12 months. Buying Opportunity • Apr 25
Now 20% undervalued Over the last 90 days, the stock is up 5.7%. The fair value is estimated to be US$32.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: US$2.80 (vs US$2.01 in FY 2021) Full year 2022 results: EPS: US$2.80 (up from US$2.01 in FY 2021). Revenue: US$67.0m (up 22% from FY 2021). Net income: US$22.9m (up 40% from FY 2021). Profit margin: 34% (up from 30% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.32% (up from 3.04% in FY 2021). Cost-to-income ratio: 54.3% (down from 59.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$23.01, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 9x in the Banks industry in the US. Total returns to shareholders of 105% over the past three years. Buying Opportunity • Mar 13
Now 27% undervalued Over the last 90 days, the stock is up 4.5%. The fair value is estimated to be US$31.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 16%. Recent Insider Transactions • Mar 01
Independent Chairman of the Board recently bought US$60k worth of stock On the 27th of February, Donald Barton bought around 2k shares on-market at roughly US$27.57 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Donald's only on-market trade for the last 12 months. Reported Earnings • Jan 24
Full year 2022 earnings released: EPS: US$2.80 (vs US$2.01 in FY 2021) Full year 2022 results: EPS: US$2.80 (up from US$2.01 in FY 2021). Revenue: US$67.0m (up 22% from FY 2021). Net income: US$22.9m (up 40% from FY 2021). Profit margin: 34% (up from 30% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 21
Oak Valley Bancorp Announces Cash Dividend for the Fourth Quarter Ended December 31, 2022, Payable on February 10, 2023 The Board of Directors of Oak Valley Bancorp at their January 17, 2023, meeting declared the payment of a cash dividend of $0.16 per share of common stock for the fourth quarter ended December 31, 2022 to its shareholders of record at the close of business on January 30, 2023. The payment date will be February 10, 2023. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: US$0.83 (vs US$0.56 in 3Q 2021) Third quarter 2022 results: EPS: US$0.83 (up from US$0.56 in 3Q 2021). Revenue: US$18.2m (up 25% from 3Q 2021). Net income: US$6.80m (up 49% from 3Q 2021). Profit margin: 37% (up from 31% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: US$0.83 (vs US$0.56 in 3Q 2021) Third quarter 2022 results: EPS: US$0.83 (up from US$0.56 in 3Q 2021). Revenue: US$18.2m (up 25% from 3Q 2021). Net income: US$6.80m (up 49% from 3Q 2021). Profit margin: 37% (up from 31% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 24
Second quarter 2022 earnings released: EPS: US$0.52 (vs US$0.49 in 2Q 2021) Second quarter 2022 results: EPS: US$0.52 (up from US$0.49 in 2Q 2021). Revenue: US$14.6m (up 9.0% from 2Q 2021). Net income: US$4.26m (up 7.5% from 2Q 2021). Profit margin: 29% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jul 22
Oak Valley Bancorp Announces Cash Dividend, Payable on August 12, 2022 The Board of Directors of Oak Valley Bancorp at their July 19, 2022, meeting declared the payment of a cash dividend of $0.15 per share of common stock to its shareholders of record at the close of business on August 1, 2022. The payment date will be August 12, 2022 and will amount to approximately $1,238,000. This is the second dividend payment made by the Company in 2022. Recent Insider Transactions • May 11
Independent Director recently bought US$86k worth of stock On the 9th of May, H. Holder bought around 5k shares on-market at roughly US$17.25 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$440k more in shares than they have sold in the last 12 months. Announcement • May 10
Oak Valley Bancorp, Annual General Meeting, Jun 21, 2022 Oak Valley Bancorp, Annual General Meeting, Jun 21, 2022, at 14:00 Pacific Daylight. Location: 338 East F Street, Oakdale california United States Agenda: To consider the election of the five director nominees; to consider the ratification of the appointment of RSM US LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022; and to amend the Company’s Bylaws to permit the number of Board members to range from eight to fifteen, an increase from the current range of seven to thirteen. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: US$0.29 (vs US$0.54 in 1Q 2021) First quarter 2022 results: EPS: US$0.29 (down from US$0.54 in 1Q 2021). Revenue: US$12.1m (down 9.6% from 1Q 2021). Net income: US$2.37m (down 46% from 1Q 2021). Profit margin: 20% (down from 33% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: US$2.01 (vs US$1.69 in FY 2020) Full year 2021 results: EPS: US$2.01 (up from US$1.69 in FY 2020). Revenue: US$54.9m (up 15% from FY 2020). Net income: US$16.3m (up 19% from FY 2020). Profit margin: 30% (up from 29% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.04% (down from 3.59% in FY 2020). Cost-to-income ratio: 59.4% (up from 58.2% in FY 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.01 (up from US$1.69 in FY 2020). Revenue: US$54.9m (up 15% from FY 2020). Net income: US$16.3m (up 19% from FY 2020). Profit margin: 30% (up from 29% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 30
Independent Director recently bought US$88k worth of stock On the 28th of October, H. Holder bought around 5k shares on-market at roughly US$17.50 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$464k more in shares than they have sold in the last 12 months. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS US$0.56 (vs US$0.46 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$14.6m (up 17% from 3Q 2020). Net income: US$4.55m (up 22% from 3Q 2020). Profit margin: 31% (up from 30% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jul 29
Independent Director recently bought US$52k worth of stock On the 26th of July, Lynn Dickerson bought around 3k shares on-market at roughly US$17.17 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$95k. Insiders have collectively bought US$376k more in shares than they have sold in the last 12 months. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS US$0.49 (vs US$0.32 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$13.4m (up 30% from 2Q 2020). Net income: US$3.96m (up 53% from 2Q 2020). Profit margin: 30% (up from 25% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 30
Independent Director recently bought US$95k worth of stock On the 28th of May, Janet Pelton bought around 5k shares on-market at roughly US$18.97 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$330k more in shares than they have sold in the last 12 months. Reported Earnings • May 15
First quarter 2021 earnings released: EPS US$0.54 (vs US$0.33 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$13.4m (up 21% from 1Q 2020). Net income: US$4.36m (up 61% from 1Q 2020). Profit margin: 33% (up from 25% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 14
Independent Director recently sold US$52k worth of stock On the 12th of May, Ronald Martin sold around 3k shares on-market at roughly US$17.27 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$303k more than they sold in the last 12 months. Reported Earnings • Apr 26
First quarter 2021 earnings released: EPS US$0.54 (vs US$0.33 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$13.4m (up 21% from 1Q 2020). Net income: US$4.36m (up 61% from 1Q 2020). Profit margin: 33% (up from 25% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS US$1.69 (vs US$1.54 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$47.6m (up 4.5% from FY 2019). Net income: US$13.7m (up 9.6% from FY 2019). Profit margin: 29% (up from 27% in FY 2019). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.59% (down from 4.13% in FY 2019). Cost-to-income ratio: 58.2% (down from 61.0% in FY 2019). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 06
New 90-day high: US$19.20 The company is up 7.0% from its price of US$18.02 on 04 December 2020. The American market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 25% over the same period. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improved over the past week After last week's 19% share price gain to US$19.20, the stock is trading at a trailing P/E ratio of 11.4x, up from the previous P/E ratio of 9.6x. This compares to an average P/E of 13x in the Banks industry in the US. Total return to shareholders over the past three years is a loss of 4.6%. Recent Insider Transactions • Jan 30
Independent Director recently bought US$155k worth of stock On the 27th of January, H. Holder bought around 10k shares on-market at roughly US$15.47 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$485k more in shares than they have sold in the last 12 months. Announcement • Jan 12
Oak Valley Bancorp Announces Executive Promotions Oak Valley Bancorp announced the promotions of Mike Garcia and Jeff Hushaw to Senior Vice President, Commercial Lending. Garcia and Hushaw will continue to focus on lending and business development opportunities throughout the San Joaquin Valley. Garcia has been with the bank since 2014 and has nearly 20 years of banking experience. He has served on various boards and has been an energetic member of many organizations. Garcia is a founding board member of the Ripon Community Fund and the Boys & Girls Club of Stanislaus. He is a board member and past President of Spring Creek Golf & Country Club. He is a current member of Modesto Rotary and Del Rio County Club and serves as a Planning Commissioner for the City of Ripon. Garcia is also a former board member of the Central Valley Family Business Center and the Modesto Chamber of Commerce. Garcia was recognized by Success Capital Expansion and Development Corporation in 2019 and 2020 for making the “Largest SBA 504 Loan” in each year. His lending activity has also been instrumental in the bank’s recognition as their “Most Active Lending Partner” for the past five years. He is a past Modesto Bee “Top 20 Most Influential Under 40” award recipient. Garcia holds a Bachelor of Science in Business Administration with an emphasis in Finance from the University of Phoenix. He will also graduate from the Pacific Coast Banking School at the University of Washington later this year. Hushaw joined the bank in 2017, bringing over 30 years of robust Central Valley commercial and agricultural lending experience. He has been a pivotal part of the bank’s commercial loan growth initiatives. Hushaw graduated from California State University, Chico with a Bachelor of Science in Business Administration with a concentration in Finance. He also graduated from Northwest Commercial Lending School at the University of Portland and is a 2004 graduate of the Pacific Coast Banking School at the University of Washington. Over the years, Hushaw has held leadership roles with the Kiwanis Club and Rotary International. He is an active member of both the Stanislaus and San Joaquin Farm Bureaus. He is a former board member of the Tracy/San Joaquin Certified Development Corporation and the Business Council Inc. of San Joaquin County. Announcement • Dec 18
Oak Valley Bancorp and Oak Valley Community Bank Appoints Lynn Reeves Dickerson as New Director, Effective January 5, 2021 On December 15, 2020, Lynn Reeves Dickerson accepted her appointment to the Board of Directors of Oak Valley Bancorp and its wholly-owned subsidiary Oak Valley Community Bank, effective January 5, 2021. Since 2009, Dickerson has been the CEO of the Gallo Center for the Arts. Her decade-long tenure was marked with operational excellence and tremendous community support. Prior to joining the Gallo Center, Dickerson had a successful 29-year career in the newspaper industry; serving as Publisher & President of The Modesto Bee from 2000-2006 and subsequently as Vice President of Operations for The McClatchy Company, the parent company of The Modesto Bee. As a corporate officer at McClatchy, she oversaw 11 of their 30 newspapers throughout the country. Dickerson is extremely active in the community, serving on many boards over the past 20 years. She currently serves on the board of the Stanislaus Community Foundation and Opportunity Stanislaus. She also represents Arts, Entertainment, and Sports on the Stanislaus County CEO’s Focus on Prevention Task Force. She was recently named a Board member Emeritus for the Stanislaus Education Foundation. Dickerson and her husband Ron, of 40 plus years, are proud Stanislaus County residents. She is a native Texan and a graduate of Texas A&M University where she earned a degree in Marketing. In 2010, she was awarded the Toastmaster International Communication and Leadership Award for the 33rd District. She has been recognized by numerous organizations with prestigious accolades with honors ranging from Citizen and Woman of the Year to Lifetime Achievement. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS US$0.46 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$12.5m (up 8.8% from 3Q 2019). Net income: US$3.75m (up 16% from 3Q 2019). Profit margin: 30% (up from 28% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 04
New 90-day high: US$16.50 The company is up 24% from its price of US$13.35 on 06 August 2020. The American market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 04
Market bids up stock over the past week After last week's 21% share price gain to US$16.50, the stock is trading at a trailing P/E ratio of 11x, up from the previous P/E ratio of 9x. This compares to an average P/E of 10x in the Banks industry in the US. Total returns to shareholders over the past three years are 2.7%. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of US$12.2m, largely unchanged from the prior year. Total revenue was US$45.3m over the last 12 months, largely unchanged from the prior year. Is New 90 Day High Low • Sep 25
New 90-day low: US$11.04 The company is down 8.0% from its price of US$11.99 on 26 June 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 4.0% over the same period. Announcement • Jul 05
Oak Valley Bancorp(NasdaqCM:OVLY) dropped from Russell Microcap Growth Index Oak Valley Bancorp(NasdaqCM:OVLY) dropped from Russell Microcap Growth Index 
