業績公告
即時報告
8-K
2026-07-23
橡木谷銀行發佈第二季業績 淨利潤511萬美元 宣派每股0.375美元股息
AI 繁中摘要
Oak Valley Bancorp（納斯達克：OVLY）以8-K表格發佈2026年第二季度未經審計業績，同時宣派現金股息 📄。
第二季度（截至2026年6月30日）淨利潤為511.4萬美元（每股攤薄盈利0.61美元），較上季度的530.9萬美元（0.64美元）及去年同期的558.8萬美元（0.67美元）均有所回落。上半年累計淨利潤1,042.3萬美元（1.25美元），亦低於2025年同期的1,088.5萬美元（1.31美元）。盈利下跌主因是非利息支出增加及非利息收入減少，部分被淨利息收入增長和較低的信貸損失撥備所抵銷。
淨利息收入達1,894.4萬美元，高於上季的1,882.4萬美元及去年同期的1,815.4萬美元，受惠於貸款增長及貸款收益率提升。淨息差擴闊至4.15%（上季4.12%，去年同期4.11%）。期末貸款總額較上季增加1,826.4萬美元，至11.66億美元；存款總額則減少1,744.5萬美元，至17.64億美元，但流動性仍然充裕，持有現金及等價物1.95億美元。
非利息收入為166.5萬美元，低於上季的195.2萬美元，主要由於上季錄得一筆來自聯邦住宅貸款銀行的特別股息，以及有限合夥投資公平值變動。非利息支出升至1,415.7萬美元（上季1,350.6萬美元，去年同期1,244.3萬美元），反映員工開支及營運成本因業務擴張而增加。
資產質量方面，不良資產（NPA）為263.1萬美元，佔總資產0.13%（上季0.23%），較上季的457.4萬美元大幅下降，原因是對一筆於2025年12月轉為非應計的抵押品依賴貸款進行了173.5萬美元核銷，餘下258.1萬美元轉入其他房地產（OREO）。信貸損失準備佔貸款總額比率由1.13%降至0.96%，主要受該筆核銷影響。
董事會宣派每股0.375美元現金股息，除息日為2026年8月3日，8月14日派付。這是2026年第二次派息 💰。
管理層表示對客戶基礎持續擴張感到滿意，第二季度反映貸款增長、審慎資產負債表管理及穩定的淨息差，團隊繼續以長期關係為中心支持客戶、社區及股東。
對投資者的潛在影響：儘管盈利輕微倒退，但貸款增長及淨息差改善顯示核心業務穩健，股息維持在較高水平。不良資產比率仍處極低位（0.13%），資產質量整體可控。需留意非利息支出上升趨勢及未來利率環境變化。
展開英文正文
EX-99.1 2 ex_991974.htm EXHIBIT 99.1 ex_991974.htm Exhibit 99.1 PRESS RELEASE For Immediate Release Date: July 22, 2026 Contact: Rick McCarty/Jeff Gall Phone: 848-2265 www.ovcb.com OAK VALLEY BANCORP REPORTS 2nd QUARTER RESULTS AND ANNOUNCES CASH DIVIDEND OAKDALE, CA - 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, 2026, consolidated net income was $5,114,000, or $0.61 per diluted share (EPS), as compared to $5,309,000, or $0.64 EPS, for the prior quarter and $5,588,000, or $0.67 EPS, for the same period a year ago. Consolidated net income for the six months ended June 30, 2026 was $10,423,000, or $1.25 EPS, compared to $10,885,000 or $1.31 EPS for the same period of 2025. The decrease in second quarter net income compared to the prior periods was primarily the result of an increase in non-interest expense and lower non-interest income, partially offset by an increase in net interest income and a lower provision for credit losses. The year-to-date decrease compared to 2025 was driven by higher non-interest expense, partially offset by increases in net interest income and non-interest income. Net interest income for the three-months ended June 30, 2026 was $18,944,000, compared to $18,824,000 in the prior quarter, and $18,154,000 in the same period a year ago. The increase in net interest income over the prior periods is attributed to loan growth, and an increase in the loan yield. Average earning assets grew at a pace of 4.0% for the second quarter of 2026, as compared to the same period of the prior year. The ending balance of gross loans grew by $18,264,000 during the second quarter and $55,859,000 over the prior twelve months. Net interest margin for the three months ended June 30, 2026 was 4.15%, compared to 4.12% for the prior quarter and 4.11% for the same period last year, related to the growth and yield trends stated above. Non-interest income was $1,665,000 for the three-months ended June 30, 2026, compared to $1,952,000 for the prior quarter and $1,703,000 for the same period last year. The decrease over the prior periods was mainly the result of a special dividend of $181,000 received from the Federal Home Loan Bank recorded during the prior quarter and due to fair value changes in a limited partnership investment. Non-interest expense totaled $14,157,000 for the three-months ended June 30, 2026, compared to $13,506,000 in the prior quarter and $12,443,000 in the same quarter a year ago. The increases compared to prior periods were primarily due to staffing expenses and general operating costs related to supporting the Company's growth and expanded branch network. Total assets were $2.00 billion at June 30, 2026, a decrease of $8,721,000 from March 31, 2026 and an increase of $80,669,000 over June 30, 2025. Gross loans were $1.17 billion at June 30, 2026, an increase of $18,264,000 over March 31, 2026 and $55,859,000 over June 30, 2025. The Company's total deposits were $1.76 billion as of June 30, 2026, a decrease of $17,445,000 from March 31, 2026 and an increase of $52,310,000 over June 30, 2025. Our liquidity remains strong, as evidenced by $194,803,000 in cash and cash equivalent balances as of June 30, 2026. "We are pleased with the continued expansion of our customer base. Our second quarter results reflect loan growth, disciplined balance sheet management, and the benefit of a steady net interest margin," stated Rick McCarty, President and Chief Executive Officer. "Our team continues to manage the business with a long-term, relationship-focused approach that supports our clients, communities, and shareholders." Non-performing assets (NPA) totaled $2,631,000 as of June 30, 2026, compared to $4,574,000 at March 31, 2026 and no NPA at June 30, 2025. The decrease compared to March 31, 2026 is due to a collateral-dependent loan that was placed on non-accrual status in December 2025, at which time the loan was individually evaluated for impairment and a specific reserve was established. During the second quarter of 2026, a charge-off of $1,735,000 was recorded on the same loan and the remaining $2,581,000 was transferred to OREO. The Company recorded a provision for credit losses of $21,000 during the second quarter as prescribed by the pooled loan calculation which considers macro-economic conditions and other credit-related factors within our current expected credit loss (“CECL”) risk model. Non-performing assets were 0.13% of total assets at June 30, 2026, compared to 0.23% at March 31, 2026. The allowance for credit losses as a percentage of gross loans decreased to 0.96% at June 30, 2026, compared to 1.13% at March 31, 2026 and 1.03% at June 30, 2025, as a result of the $1,735,000 loan charge-off during the second quarter of 2026. The Board of Directors of Oak Valley Bancorp at their July 21, 2026, meeting declared the payment of a cash dividend of $0.375 per share of common stock to its shareholders of record at the close of business on August 3, 2026. The payment date will be August 14, 2026 and will amount to approximately $3,155,000. This is the second dividend payment made by the Company in 2026. Oak Valley Bancorp operates Oak Valley Community Bank & their Eastern Sierra Community Bank division, through which it offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 19 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, Lodi, two branches in Sonora, three branches in Modesto, and three branches in the Eastern Sierra division which includes Bridgeport, Mammoth Lakes, and Bishop. For more information, call 1-866-844-7500 or visit www.ovcb.com. This press release includes forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the corporation's possible or assumed future financial condition, and its results of operations and business. Forward-looking statements are subject to risks and uncertainties. A number of important factors could cause actual results to differ materially from the forward-looking statements. Those factors include fluctuations in interest rates, government policies and regulations (including monetary and fiscal policies), legislation, economic conditions, including increased energy costs in California, credit quality of borrowers, operational factors and competition in the geographic and business areas in which the company conducts its operations. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement. ### Oak Valley Bancorp Financial Highlights (unaudited) Selected Quarterly Operating Data: 2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter ($ in thousands, except per share) 2026 2026 2025 2025 2025 Net interest income $ 18,944 $ 18,824 $ 19,457 $ 19,197 $ 18,154 Provision for (reversal of) credit losses 21 464 865 (60 ) 245 Non-interest income 1,665 1,952 1,825 1,973 1,703 Non-interest expense 14,157 13,506 12,262 12,700 12,443 Net income before income taxes 6,431 6,806 8,155 8,530 7,169 Provision for income taxes 1,317 1,497 1,820 1,837 1,581 Net income $ 5,114 $ 5,309 $ 6,335 $ 6,693 $ 5,588 Earnings per common share - basic $ 0.62 $ 0.64 $ 0.77 $ 0.81 $ 0.68 Earnings per common share - diluted $ 0.61 $ 0.64 $ 0.76 $ 0.81 $ 0.67 Dividends paid per common share $ - $ 0.375 $ - $ 0.300 $ - Return on average common equity 9.74 % 10.23 % 12.32 % 14.30 % 12.21 % Return on average assets 1.04 % 1.07 % 1.25 % 1.35 % 1.18 % Net interest margin (1) 4.15 % 4.12 % 4.14 % 4.16 % 4.11 % Efficiency ratio (2) 66.46 % 62.99 % 55.94 % 58.27 % 60.75 % Capital - Period End Book value per common share $ 25.80 $ 24.50 $ 24.79 $ 23.63 $ 22.17 Credit Quality - Period End Nonperforming assets / total assets 0.13 % 0.23 % 0.23 % 0.00 % 0.00 % Credit loss reserve / gross loans 0.96 % 1.13 % 1.08 % 1.03 % 1.03 % Balance Sheet - Period End (in thousands) Total assets $ 2,001,578 $ 2,010,299 $ 2,023,116 $ 1,995,416 $ 1,920,909 Gross loans 1,165,715 1,147,451 1,143,930 1,112,829 1,109,856 Nonperforming assets 2,631 4,574 4,587 - - Allowance for credit losses 11,172 12,910 12,381 11,420 11,430 Deposits 1,763,551 1,780,996 1,792,962 1,774,882 1,711,241 Common equity 217,034 206,154 207,975 198,280 185,805 Balance Sheet - Average (in thousands) Average assets $ 1,980,142 $ 2,006,175 $ 2,013,766 $ 1,961,374 $ 1,903,741 Average earning assets 1,884,736 1,905,874 1,914,907 1,876,588 1,818,430 Average equity 210,662 210,562 203,994 185,638 183,612 Non-Financial Data Full-time equivalent staff 246 244 238 237 231 Number of banking offices 19 19 19 18 18 Common Shares outstanding Period end 8,413,458 8,413,458 8,388,221 8,390,621 8,382,062 Period average - basic 8,272,810 8,257,567 8,249,256 8,246,666 8,245,147 Period average - diluted 8,333,393 8,322,124 8,304,597 8,299,039 8,285,299 Market Ratios Stock Price $ 33.75 $ 32.43 $ 30.06 $ 28.17 $ 27.24 Price/Earnings 13.61 12.44 9.87 8.75 10.02 Price/Book 1.31 1.32 1.21 1.19 1.23 (1) This is a non-GAAP measure that is computed on a fully tax equivalent basis using a federal tax rate of 21%. The resulting adjustment to net interest income is $546 thousand, $539 thousand, $509 thousand, $501 thousand, and $498 thousand for the three-months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively. (2) This is a non-GAAP measure that is computed on a fully tax equivalent basis using a federal tax rate of 21%, and a federal/state combined tax rate of 29.56%. The resulting adjustment to pre-tax income is $694 thousand, $666 thousand, $639 thousand, $626 thousand, and $624 thousand for the three-months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively. Profitability SIX MONTHS ENDEDJUNE 30, ($ in thousands, except per share) 2026 2025 Net interest income $ 37,768 $ 35,961 Provision for (reversal of) credit losses 485 519 Non-interest income 3,617 3,316 Non-interest expense 27,663 24,793 Net income before income taxes 13,237 13,965 Provision for income taxes 2,814 3,080 Net income $ 10,423 $ 10,885 Earnings per share - basic $ 1.26 $ 1.32 Earnings per share - diluted $ 1.25 $ 1.31 Dividends paid per share $ 0.375 $ 0.300 Return on average equity 9.98 % 11.89 % Return on average assets 1.05 % 1.15 % Net interest margin (3) 4.13 % 4.10 % Efficiency ratio (4) 64.72 % 61.19 % Capital - Period End Book value per share $ 25.80 $ 22.17 Credit Quality - Period End Nonperforming assets/ total assets 0.13 % 0.00 % Credit loss reserve/ gross loans 0.96 % 1.03 % Balance Sheet - Period End (in thousands) Total assets $ 2,001,578 $ 1,920,909 Gross loans 1,165,715 1,109,856 Nonperforming assets 2,631 - Allowance for credit losses 11,172 11,430 Deposits 1,763,551 1,711,241 Stockholders' equity 217,034 185,805 Balance Sheet - Average (in thousands) Average assets $ 1,993,086 $ 1,903,663 Average earning assets 1,895,247 1,816,395 Average equity 210,613 184,596 Non-Financial Data Full-time equivalent staff 246 231 Number of banking offices 19 18 Common Shares outstanding Period end 8,413,458 8,382,062 Period average - basic 8,265,231 8,238,532 Period average - diluted 8,327,790 8,281,819 Market Ratios Stock Price $ 33.75 $ 27.24 Price/Earnings 13.27 10.22 Price/Book 1.31 1.23 (3) This is a non-GAAP measure that is computed on a fully tax equivalent basis using a federal tax rate of 21%. The resulting adjustment to net interest income is $1.085 million and $996 thousand for the six months ended June 30, 2026 and 2025, respectively. (4) This is a non-GAAP measure that is computed on a fully tax equivalent basis using a federal tax rate of 21%, and a federal/state combined tax rate of 29.56%. The resulting adjustment to pre-tax income is $1.360 million and $1.242 million for the six months ended June 30, 2026 and 2025, respectively.