Oak Valley Bancorp (OVLY) Q1 2026 earnings summary

Executive summary

• Net income for Q1 2026 was $5.31 million, or $0.64 per diluted share, down from $6.34 million in the prior quarter but nearly flat year-over-year.

• Decrease in net income from the prior quarter driven by higher operating expenses and lower net interest income; year-over-year increase attributed to earning asset and loan yield growth.

• Management emphasizes a strong balance sheet and stable performance across core business lines.

Financial highlights

• Net interest income was $18.82 million, down from $19.46 million in Q4 2025, but up from $17.81 million in Q1 2025.

• Non-interest income rose to $1.95 million, aided by a $181,000 special dividend from the Federal Home Loan Bank.

• Non-interest expense increased to $13.51 million, mainly due to staffing and operating costs for growing portfolios.

• Total assets at quarter-end were $2.01 billion, with gross loans at $1.15 billion and deposits at $1.78 billion.

• Book value per share increased to $24.50 at March 31, 2026.

Outlook and guidance

• Management remains committed to disciplined growth and a conservative risk management approach.

• Forward-looking statements caution about risks from interest rates, regulations, economic conditions, and competition.