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Stock impact report

Oak Valley Bancorp Reports 2nd Quarter Results and Announces Cash Dividend

Oak Valley Bancorp (CA) (OVLY) 
US:NASDAQ Investor Relations: investors.ovcb.com
Company Research Source: GlobeNewswire
OAKDALE, Calif., July 19, 2018 (GLOBE NEWSWIRE) -- Oak Valley Bancorp (NASDAQ:OVLY) (the “Company”), the bank holding company for Oak Valley Community Bank and their Eastern Sierra Community Bank division, recently reported unaudited consolidated financial results. For the three months ended June 30, 2018, consolidated net income was $2,591,000, or $0.32 per diluted share (EPS), compared to $2,802,000, or $0.35 EPS, for the prior quarter and $2,830,000, or $0.35 EPS, for the same period a year ago. The decrease of $211,000 compared to the prior quarter is mainly due to non-recurring gains on the sale of an OREO property and investment securities recorded during the first quarter of 2018.  Compared to the second quarter of 2017, the net income decrease of $239,000 is attributable to the $938,000 one-time merger-related settlement payments that were recorded in the second quarter of 2017, which were offset in part by strong core earnings and the lower federal income tax rate in 2018 c Show less Read more
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