Oak Valley Community Bank Awarded $75,000 to Support First-Time Homebuyers

OAKDALE, CA--(Marketwired - Apr 12, 2013) - Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), is pleased to announce the Federal Home Loan Bank (FHLB) of San Francisco awarded $75,000 in Affordable Housing Program (AHP) funds to the Bank as part of the 2013 Workforce Initiative Subsidy for Homeownership (WISH) Program.

AHP funds through the WISH Program will be used for first-time homebuyers through agency partners such as Habitat for Humanity of Stanislaus County and Tuolumne County and the County of Tuolumne Housing Division. The Bank has applied for AHP funds on an annual basis since 2009; and has developed a multi-faceted partnership with these agencies and is committed to helping meet the need for affordable housing in local communities.

About WISH Program:
Under the Workforce Initiative Subsidy for Homeownership Program, the Federal Home Loan Bank sets aside a portion of its annual Affordable Housing Program contribution to provide matching grants through FHLB members for down payment and closing cost assistance.

To learn more visit: http://www.fhlbsf.com

About Oak Valley Community Bank:
Oak Valley Bancorp operates Oak Valley Community Bank & Eastern Sierra Community Bank, through which it offers a variety of loan and deposit products to individuals and small businesses. Established in 1991, they currently operate through 14 conveniently located branches: Oakdale, Sonora, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes and Bishop. 

For more information call 1-866-844-7500 or visit www.ovcb.com.