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
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.81
Q3 Net Income
$6.7 mln
Q3 Net Interest Income
$19.2 mln
Q3 Net Interest Margin
4.16%
Q3 Pretax Profit
$8.5 mln
Press Release: ID:nGNX9l0Ppb
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(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.)