Oak Valley Bancorp
Financial Highlights (unaudited)
($ in thousands, except per share)
Selected Quarterly Operating Data: 1st Quarter
2016 4th Quarter
2015 3rd Quarter
2015 2nd Quarter
2015 1st Quarter
2015
Net interest income $ 7,542 $ 6,647 $ 6,354 $ 6,200 $ 6,201
Provision for (reversal of) loan losses 200 - - - (125 )
Non-interest income 1,037 962 965 1,156 1,027
Non-interest expense 6,187 7,085 5,299 5,193 5,099
Net income before income taxes 2,192 524 2,020 2,163 2,254
Provision for income taxes 683 34 638 653 728
Net income $ 1,509 $ 490 $ 1,382 $ 1,510 $ 1,526
Earnings per common share - basic $ 0.19 $ 0.06 $ 0.17 $ 0.19 $ 0.19
Earnings per common share - diluted $ 0.19 $ 0.06 $ 0.17 $ 0.19 $ 0.19
Dividends paid per common share $ 0.12 $ - $ 0.11 $ - $ 0.100
Return on average common equity 7.68 % 2.49 % 7.17 % 7.94 % 8.22 %
Return on average assets 0.67 % 0.24 % 0.70 % 0.81 % 0.82 %
Net interest margin (1) 3.76 % 3.62 % 3.61 % 3.70 % 3.74 %
Efficiency ratio (2) 67.46 % 66.65 % 66.95 % 68.23 % 70.56 %
Capital - Period End
Book value per common share $ 9.76 $ 9.69 $ 9.55 $ 9.43 $ 9.39
Credit Quality - Period End
Nonperforming assets/ total assets 0.97 % 0.88 % 0.65 % 0.68 % 0.70 %
Loan loss reserve/ gross loans 1.33 % 1.36 % 1.55 % 1.59 % 1.63 %
Period End Balance Sheet
($ in thousands)
Total assets $ 905,750 $ 897,038 $ 793,723 $ 764,008 $ 753,552
Gross loans 568,227 541,032 477,327 463,463 453,165
Nonperforming assets 8,763 7,882 5,123 5,197 5,246
Allowance for loan losses 7,557 7,356 7,389 7,390 7,409
Deposits 822,440 814,691 712,577 683,937 672,991
Common equity 78,960 78,263 77,147 76,165 75,816
Non-Financial Data
Full-time equivalent staff 164 158 150 152 148
Number of banking offices 16 16 15 15 15
Common Shares outstanding
Period end 8,088,155 8,078,155 8,078,155 8,072,655 8,075,355
Period average - basic 8,008,602 7,996,644 7,994,857 7,992,296 7,972,225
Period average - diluted 8,051,776 8,045,090 8,040,577 8,036,691 8,024,756
Market Ratios
Stock Price $ 9.27 $ 10.40 $ 9.46 $ 9.86 $ 9.86
Price/Earnings 12.27 42.78 13.79 13.01 12.70
Price/Book 0.95 1.07 0.99 1.05 1.05
Contact:
Chris Courtney/Rick McCarty
Phone: (209) 848-2265
www.ovcb.com
Source: Oak Valley Bancorp
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http://investors.ovcb.com/file.aspx?IID=4206680&FID=33958298&printable=1
