Oak Valley Community Bank’s income continues to rise

Oak Valley Community Bank’s net income rose 33.3 percent the first nine months of this year compared to the same period last year.

The bank, headquartered in Oakdale, reported that its income was bolstered by $1.88 million recovered from a previously unpaid loan.

Oak Valley also reported higher revenue from interest income, driven primarily by increased loan volume.

“We are pleased to report another quarter of solid earnings,” Oak Valley President Chris Courtney said. “Our emphasis on growth through core deposits has served us well and will continue to provide us with a hedge against an eventual rise in interest rates.”

Courtney said despite uncertainty in the global economy, “loan demand continues to be strong locally and we are well-positioned to meet that demand and help Central Valley businesses grow.”

Oak Valley operates 14 branches in Stanislaus, San Joaquin and Tuolumne counties, and its Eastern Sierra Division has three branches. Oak Valley expects to open a new branch in Tracy next month.

This story was originally published October 24, 2014 at 5:02 PM with the headline "Oak Valley Community Bank’s income continues to rise."