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OVLY Oak Valley Bancorp News Story

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Oak Valley Bancorp's Q3 net income rises on asset growth

Overview

Oak Valley Bancorp's Q3 net income rises from prior quarter due to asset growth and loan yields

Net interest income for Q3 increased to $19.2 mln from $17.7 mln last year

California-based lender opened its 19th branch in Lodi, expanding Central Valley presence

Outlook

Company did not provide specific financial guidance for future periods

Result Drivers

ASSET GROWTH - Earning asset growth and increased loan yields contributed to higher net interest income

NON-INTEREST INCOME - Increase driven by one-time life insurance gain and higher production in advisory service

ASSET QUALITY - The lender maintained zero non-performing assets

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 EPS$0.81
Q3 Net Income$6.7 mln
Q3 Net Interest Income$19.2 mln
Q3 Net Interest Margin4.16%
Q3 Pretax Profit$8.5 mln
Press Release: ID:nGNX9l0Ppb For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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