Mother Lode Bank (fka MOLB)

[genlou]

Oak Valley Bancorp Completes Acquisition of Mother Lode Bank
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OAKDALE, CA -- (Marketwired) -- 12/23/15 -- Oak Valley Bancorp (NASDAQ: OVLY) (the "Company"), the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, reported today that it completed its acquisition of Mother Lode Bank (OTC PINK: MOLB) upon the merger of Mother Lode Bank into Oak Valley Community Bank. The aggregate consideration paid by the Company in the acquisition, including cash consideration to holders of outstanding stock options, was approximately $7.3 million in exchange for all outstanding common stock shares.

As announced on August 27, 2015, the Company entered into an agreement to acquire Mother Lode Bank, a California-state chartered bank having $78 million in assets and two branches in Sonora, CA. Oak Valley Community Bank opened its second branch in Sonora earlier this month and plans to close the two Mother Lode Bank branches as of January 29, 2015. Mother Lode Bank customers will be serviced by the two existing Oak Valley Community Bank branches.

H. Randolph Holder, a director of Mother Lode Bank, joined the Boards of Directors of the Company and Oak Valley Community Bank upon the closing. Mr. Holder is President and CEO of Clarke Broadcasting Corp., which owns and operates KVML, KZSQ and KKBN, Sonora's local radio stations since 1986.