Overview

* Oak Valley Bancorp's ( OVLY ) 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/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.81

Q3 Net $6.7 mln

Income

Q3 Net $19.2

Interest mln

Income

Q3 Net 4.16%

Interest

Margin

Q3 $8.5 mln

Pretax

Profit

Press Release:

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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.)