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Oak Valley reports 3rd quarter earnings
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OAKDALE− Oak Valley Bancorp (NASDAQ: OVLY), the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank for the three months ended September 30, 2009, the Bank reported net income of $879,000.

After adjustment for preferred stock dividends and accretion this represents net income available to common shareholders of $669,000, or $0.09per diluted share, compared to net income of $549,000, or $0.07 per diluted common share, f or the three months ended Sept. 30, 2008.

Total assets grew to $521.2 million at September 30, 2009, an increase of $31.1 million, or 6.3%, over Sept. 30, 2008. Gross loans increased by $8.7million, to $425.4 million as of September 30, 2009, an increase of 2.1% over September 30, 2008. The Bank’s total deposits increased to $431.5 million on September 30, 2009, which was an increase of $66.3 million, or 18.2% over Sept. 30, 2008.

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