Form 8-K
8-K — Oak Valley Bancorp
Accession: 0001437749-26-033387
Filed: 2026-10-23
Period: 2026-10-21
CIK: 0001431567
SIC: 6022 (STATE COMMERCIAL BANKS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — ovly20261021_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (ex_1029342.htm)
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8-K — FORM 8-K
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0001431567
0001431567
2026-10-21
2026-10-21
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934.
Date of Report: October 21, 2026
(Date of earliest event reported)
Oak Valley Bancorp
(Exact name of registrant as specified in its charter)
CA
(State or other jurisdiction
of incorporation)
001-34142
(Commission File Number)
26-2326676
(IRS Employer
Identification Number)
125 N. Third Ave. Oakdale, CA
(Address of principal executive offices)
95361
(Zip Code)
(209) 848-2265
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
OVLY
The Nasdaq Stock Market, LLC
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On October 21, 2026, Oak Valley Bancorp issued a press release, a copy of which is attached as Exhibit 99.1 and incorporated herein by reference. The press release announced the Company’s operating results for the three and nine-months ended September 30, 2026.
The information in this Item 2.02 in this Form 8-K and the Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.
Item 7.01. Regulation FD Disclosure.
See “Item 2.02. Results of Operations and Financial Condition” which is incorporated by reference in this Item 7.01.
Item 9.01. Financial Statements and Exhibits
(a) Financial statements:
None
(b) Pro forma financial information:
None
(c) Shell company transactions:
None
(d) Exhibits
99.1
Press Release of Oak Valley Bancorp dated October 21, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 23, 2026
OAK VALLEY BANCORP
By:
/s/ Jeffrey A. Gall
Jeffrey A. Gall
Executive Vice President and Chief Financial Officer
(Principal Financial Officer and duly authorized signatory)
Exhibit Index
Exhibit No.
Description
99.1
Press Release of Oak Valley Bancorp dated October 21, 2026
104
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EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: ex_1029342.htm · Sequence: 2
ex_1029342.htm
Exhibit 99.1
PRESS RELEASE
For Immediate Release
Date:
October 21, 2026
Contact:
Rick McCarty/Jeff Gall
Phone:
(209) 848-2265
www.ovcb.com
OAK VALLEY BANCORP REPORTS 3rd QUARTER RESULTS
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 September 30, 2026, consolidated net income was $6,450,000, or $0.77 per diluted share (EPS), as compared to $5,114,000, or $0.61 EPS, for the prior quarter and $6,693,000, or $0.81 EPS, for the same period a year ago. Consolidated net income for the nine months ended September 30, 2026 was $16,873,000, or $2.02 EPS, compared to $17,578,000, or $2.12 EPS, for the same period of 2025.
The increase in third quarter net income compared to the prior quarter was primarily due to an increase in net interest income, a decrease in non-interest expense, and an increase in non-interest income. Year-to-date net income decreased compared to 2025 primarily due to an increase in non-interest expense, partially offset by increases in net interest income and non-interest income.
Net interest income for the three months ended September 30, 2026 was $19,802,000, compared to $18,944,000 in the prior quarter and $19,197,000 in the same period a year ago. The increase in net interest income over the prior periods was driven by growth in average earning assets and an increase in the yield on average earning assets. Net interest margin for the three months ended September 30, 2026 was 4.24%, compared to 4.15% for the prior quarter and 4.16% for the same period last year.
Non-interest income was $1,851,000 for the quarter ended September 30, 2026, compared to $1,665,000 for the prior quarter and $1,973,000 for the same period last year. The increase compared to the prior period was primarily due to an increase in debit card transaction fee income, and dividends received from the Federal Home Loan Bank. The decrease compared to the same period of 2025 was mainly due to a one-time gain from the redemption of a life insurance policy recorded in 2025.
Non-interest expense totaled $13,420,000 for the quarter ended September 30, 2026, compared to $14,157,000 in the prior quarter and $12,700,000 in the same quarter a year ago. The decrease compared to the prior quarter is due to a one-time benefit expense recorded during the prior quarter for accelerated vesting of certain restricted stock awards. The increase over the same period a year ago reflects staffing expenses and general operating costs related to supporting the Company's growth and expanded branch network.
“We are pleased with our third-quarter operating results, highlighted by stronger net interest income and expanded net interest margin,” stated Rick McCarty, President and Chief Executive Officer. “These results reflect the strength of our core banking franchise and our team’s disciplined approach to balance sheet management.”
Total assets were $1.98 billion at September 30, 2026, a decrease of $25,404,000 from June 30, 2026 and $19,242,000 from September 30, 2025. Gross loans were $1.15 billion at September 30, 2026, a decrease of $11,660,000 from June 30, 2026 and an increase of $41,226,000 over September 30, 2025. The Company's total deposits were $1.76 billion as of September 30, 2026, essentially unchanged from June 30, 2026 and a decrease of $12,299,000 from September 30, 2025. Our liquidity position remains strong, as evidenced by $179,669,000 in cash and cash equivalent balances at September 30, 2026.
Non-performing assets ("NPA") totaled $2,581,000 as of September 30, 2026, compared to $2,631,000 at June 30, 2026 and no NPA at September 30, 2025. The Company recorded a provision for credit losses of $42,000 during the third quarter related to off-balance-sheet-items as determined by 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 September 30, 2026, consistent with June 30, 2026. The allowance for credit losses ("ACL") as a percentage of gross loans was 0.97% at September 30, 2026, compared to 0.96% at June 30, 2026 and 1.03% at September 30, 2025. The ACL decrease compared to the prior year is a result of the $1,735,000 loan charge-off during the second quarter of 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 businesses and individuals. 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 those in 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:
3rd Quarter
2nd Quarter
1st Quarter
4th Quarter
3rd Quarter
($ in thousands, except per share)
2026
2026
2026
2025
2025
Net interest income
$
19,802
$
18,944
$
18,824
$
19,457
$
19,197
Provision for (reversal of) credit losses
42
21
464
865
(60
)
Non-interest income
1,851
1,665
1,952
1,825
1,973
Non-interest expense
13,420
14,157
13,506
12,262
12,700
Net income before income taxes
8,191
6,431
6,806
8,155
8,530
Provision for income taxes
1,741
1,317
1,497
1,820
1,837
Net income
$
6,450
$
5,114
$
5,309
$
6,335
$
6,693
Earnings per common share - basic
$
0.78
$
0.62
$
0.64
$
0.77
$
0.81
Earnings per common share - diluted
$
0.77
$
0.61
$
0.64
$
0.76
$
0.81
Dividends paid per common share
$
0.375
$
-
$
0.375
$
-
$
0.300
Return on average common equity
12.16
%
9.74
%
10.23
%
12.32
%
14.30
%
Return on average assets
1.28
%
1.04
%
1.07
%
1.25
%
1.35
%
Net interest margin (1)
4.24
%
4.15
%
4.12
%
4.14
%
4.16
%
Efficiency ratio (2)
60.15
%
66.46
%
62.99
%
55.94
%
58.27
%
Capital - Period End
Book value per common share
$
22.70
$
25.80
$
24.50
$
24.79
$
23.63
Credit Quality - Period End
Nonperforming assets / total assets
0.13
%
0.13
%
0.23
%
0.23
%
0.00
%
Credit loss reserve / gross loans
0.97
%
0.96
%
1.13
%
1.08
%
1.03
%
Balance Sheet - Period End (in thousands)
Total assets
$
1,976,174
$
2,001,578
$
2,010,299
$
2,023,116
$
1,995,416
Gross loans
1,154,055
1,165,715
1,147,451
1,143,930
1,112,829
Nonperforming assets
2,581
2,631
4,574
4,587
-
Allowance for credit losses
11,214
11,172
12,910
12,381
11,420
Deposits
1,762,583
1,763,551
1,780,996
1,792,962
1,774,882
Common equity
191,099
217,034
206,154
207,975
198,280
Balance Sheet - Average (in thousands)
Average assets
$
1,999,329
$
1,980,142
$
2,006,175
$
2,013,766
$
1,961,374
Average earning assets
1,902,124
1,884,736
1,905,874
1,914,907
1,876,588
Average equity
210,369
210,662
210,562
203,994
185,638
Non-Financial Data
Full-time equivalent staff
247
246
244
238
237
Number of banking offices
19
19
19
19
18
Common Shares outstanding
Period end
8,419,978
8,413,458
8,413,458
8,388,221
8,390,621
Period average - basic
8,290,685
8,272,810
8,257,567
8,249,256
8,246,666
Period average - diluted
8,348,220
8,333,393
8,322,124
8,304,597
8,299,039
Market Ratios
Stock Price
$
33.67
$
33.75
$
32.43
$
30.06
$
28.17
Price/Earnings
10.91
13.61
12.44
9.87
8.75
Price/Book
1.48
1.31
1.32
1.21
1.19
(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 $536 thousand, $546 thousand, $539 thousand, $509 thousand, and $501 thousand for the three-months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 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 $659 thousand, $694 thousand, $666 thousand, $639 thousand, and $626 thousand for the three-months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.
Profitability
NINE MONTHS ENDED
SEPTEMBER 30,
($ in thousands, except per share)
2026
2025
Net interest income
$
57,570
$
55,158
Provision for (reversal of) credit losses
527
459
Non-interest income
5,468
5,289
Non-interest expense
41,083
37,493
Net income before income taxes
21,428
22,495
Provision for income taxes
4,555
4,917
Net income
$
16,873
$
17,578
Earnings per share - basic
$
2.04
$
2.13
Earnings per share - diluted
$
2.02
$
2.12
Dividends paid per share
$
0.750
$
0.600
Return on average equity
10.72
%
12.71
%
Return on average assets
1.13
%
1.22
%
Net interest margin (3)
4.17
%
4.12
%
Efficiency ratio (4)
63.15
%
60.17
%
Capital - Period End
Book value per share
$
22.70
$
23.63
Credit Quality - Period End
Nonperforming assets/ total assets
0.13
%
0.00
%
Credit loss reserve/ gross loans
0.97
%
1.03
%
Balance Sheet - Period End (in thousands)
Total assets
$
1,976,174
$
1,995,416
Gross loans
1,154,055
1,112,829
Nonperforming assets
2,581
-
Allowance for credit losses
11,214
11,420
Deposits
1,762,583
1,774,882
Stockholders' equity
191,099
198,280
Balance Sheet - Average (in thousands)
Average assets
$
1,995,190
$
1,923,112
Average earning assets
1,897,564
1,836,679
Average equity
210,530
184,947
Non-Financial Data
Full-time equivalent staff
247
237
Number of banking offices
19
18
Common Shares outstanding
Period end
8,419,978
8,390,621
Period average - basic
8,273,809
8,241,273
Period average - diluted
8,334,675
8,287,622
Market Ratios
Stock Price
$
33.67
$
28.17
Price/Earnings
12.35
9.88
Price/Book
1.48
1.19
(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 $1.621 million and $1.496 million for the nine months ended September 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 $2.018 million and $1.868 million for the nine months ended September 30, 2026 and 2025, respectively.
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Document And Entity Information
Oct. 21, 2026
Document Information [Line Items]
Entity, Registrant Name
Oak Valley Bancorp
Document, Type
8-K
Document, Period End Date
Oct. 21, 2026
Entity, Incorporation, State or Country Code
CA
Entity, File Number
001-34142
Entity, Tax Identification Number
26-2326676
Entity, Address, Address Line One
125 N. Third Ave.
Entity, Address, City or Town
Oakdale
Entity, Address, State or Province
CA
Entity, Address, Postal Zip Code
95361
City Area Code
209
Local Phone Number
848-2265
Title of 12(b) Security
Common Stock
Trading Symbol
OVLY
Security Exchange Name
NASDAQ
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration