Oak Valley Bancorp 10‑K: Net income $23.9M, EPS $2.88; NII $74.6M
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Oak Valley Bancorp reported a net income of $23.9 million and diluted earnings per share of $2.88 for the year, with net interest income at $74.6 million. Despite modest revenue growth, earnings were impacted by higher noninterest expenses, leading to a decline in net income and EPS compared to the previous year. Noninterest income rose 8.5% to $7.11 million, supported by fair value gains on equity securities. The company experienced a 5.7% increase in total deposits and a 3.4% growth in gross loans, primarily in commercial real estate and construction lending.
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