Oak Valley Bancorp reported a net income of $5.3 million for the first quarter of 2026, a slight increase from $5.3 million in the same period of 2025. The company's net interest income rose to $18.8 million, up from $17.8 million year-over-year, primarily driven by growth in earning assets. The increase in net interest income was partially offset by a rise in interest expenses, which totaled $3.4 million, compared to $3.3 million in the previous year. The provision for credit losses also increased to $464,000 from $274,000, reflecting stable credit quality and an adequate reserve level.
Total assets for Oak Valley Bancorp decreased by $12.8 million, or 0.6%, to $2.01 billion as of March 31, 2026. The decline was attributed to a decrease in cash and cash equivalents, which fell by $30.6 million, or 13.2%, while net loans increased by $3.1 million, or 0.3%. Investment securities rose by $11.5 million, or 2.1%. Deposits decreased by $12 million, or 0.7%, to $1.78 billion, with a notable drop in demand deposits, which fell by $40.7 million.
In terms of operational developments, Oak Valley Bancorp's customer base remains concentrated in California's Central Valley and Eastern Sierra regions, with a focus on commercial real estate loans, which constitute approximately 88% of the loan portfolio. The company has maintained a stable allowance for credit losses, which increased to $12.9 million, representing 1.13% of total loans, up from 1.08% at the end of 2025. The bank's non-performing loans remained stable at $4.6 million, with no new modifications or significant changes in asset quality.
Looking ahead, Oak Valley Bancorp anticipates continued growth in its loan portfolio and non-interest income, driven by strategic initiatives and market conditions. The company remains focused on enhancing shareholder value while managing operational costs effectively. Management is committed to monitoring credit risks and adjusting the allowance for credit losses as necessary, given the evolving economic landscape. The bank's capital ratios remain strong, with total capital to risk-weighted assets at 16.34%, well above the regulatory minimum requirements.
About Oak Valley Bancorp
Oak Valley Bancorp is a bank holding company for Oak Valley Community Bank, a California-based community bank serving individuals and small to medium-sized businesses. It offers commercial and real estate loans, deposit products, online and mobile banking, and SBA lending. Focused on California's Central Valley and Eastern Sierras, it emphasizes personalized service, local presence, and community engagement within a highly regulated banking environment.
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