Oak Valley Community Bank Statement of Condition (unaudited) 2nd 1st 4th 3rd 2nd Quarter Quarter Quarter Quarter Quarter 2007 2007 2006 2006 2006 Profitability ($ in thousands, except per share) Selected Quarterly Operating Data: Net interest income $ 4,653 $ 4,602 $ 4,515 $ 4,419 $ 4,231 Provision for loan losses 120 170 50 140 220 Non-interest income 552 540 541 432 412 Non-interest expense 3,452 3,320 3,135 3,082 3,052 Income before income taxes 1,633 1,652 1,871 1,629 1,372 Provision for income taxes 630 650 717 632 532 Net income 1,003 1,002 1,154 997 840 Earnings per common share - basic 0.14 0.14 0.16 0.14 0.12 Earnings per common share - diluted 0.14 0.14 0.16 0.14 0.11 Dividends declared per common share (1) - - - 0.19 - Return on average common equity (5) 11.04% 11.50% 13.48% 11.91% 10.31% Return on average assets 0.90% 0.92% 1.05% 0.93% 0.83% Net interest margin (2) 4.47% 4.49% 4.45% 4.47% 4.60% Efficiency Ratio (2) 65.49% 63.75% 61.23% 62.72% 64.83% Capital - Period End Tier 1 risk-based capital ratio (4) 9.62% 8.76% 8.42% 8.68% 9.15% Book value per share (5) $ 5.32 $ 5.01 $ 4.85 $ 4.66 $ 4.65 Credit Quality - Period End Nonperforming assets/assets 0.00% 0.00% 0.00% 0.01% 0.01% Loan loss reserve/loans (3) 1.22% 1.16% 1.15% 1.18% 1.22% Period End Balance Sheet ($ in thousands) Total assets $ 441,334 $ 452,520 $ 455,431 $ 428,670 $ 409,103 Gross Loans 376,671 387,580 378,393 363,807 341,652 Nonperforming assets - - - 22 25 Allowance for credit losses (3) 4,600 4,480 4,341 4,296 4,157 Deposits 364,164 352,086 378,530 371,950 365,003 Common Equity (5) 39,287 35,665 34,424 33,025 32,931 Non-Financial Data Full-time equivalent staff 120 115 112 110 108 Number of banking offices, domestic and foreign 12 12 12 12 12 Common Shares outstanding Period end (5) 7,379,613 7,122,171 7,103,243 7,094,244 7,079,326 Period average - basic (5) 7,167,879 7,108,923 7,095,114 7,090,707 7,059,219 Period average - diluted (5) 7,341,990 7,293,827 7,358,875 7,375,174 7,357,295 Market Ratios Stock Price $ 10.95 $ 11.10 $ 13.03 $ 14.40 $ 13.50 Price/Earnings $ 19.50 $ 19.43 $ 20.18 $ 25.81 $ 28.30 Price/Book (5) $ 2.06 $ 2.22 $ 2.69 $ 3.09 $ 2.90 Profitability YEAR TO DATE ------------------------ ($ in thousands, except per share) 6/30/2007 6/30/2006 Selected Quarterly Operating Data: Net interest income $ 9,254 $ 8,400 Provision for loan losses 290 405 Non-interest income 1,092 751 Non-interest expense 6,772 6,003 Income before income taxes 3,285 2,743 Provision for income taxes 1,280 1,064 Net income 2,005 1,679 Earnings per common share - basic 0.28 0.24 Earnings per common share - diluted 0.27 0.23 Dividends declared per common share (1) - - Return on average common equity (5) 11.27% 10.51% Return on average assets 0.91% 0.85% Net interest margin (2) 4.48% 4.57% Efficiency Ratio (2) 64.62% 65.60% Capital - Period End Tier 1 risk-based capital ratio (4) 9.62% 9.22% Book value per share (5) $ 5.32 $ 4.65 Credit Quality - Period End Nonperforming assets/assets 0.00% 0.01% Loan loss reserve/loans (3) 1.22% 1.22% Period End Balance Sheet ($ in thousands) Total assets $ 441,334 $ 409,103 Gross Loans 376,671 341,652 Nonperforming assets - 25 Allowance for credit losses (3) 4,600 4,157 Deposits 364,164 365,003 Common Equity (5) 39,287 32,931 Non-Financial Data Full-time equivalent staff 120 108 Number of banking offices, domestic and foreign 12 12 Common Shares outstanding Period end (5) 7,379,613 7,079,326 Period average - basic (5) 7,138,564 7,031,772 Period average - diluted (5) 7,317,633 7,329,848 Market Ratios Stock Price 10.95 13.50 Price/Earnings 19.33 28.04 Price/Book (5) 2.06 2.90 (1) Dividend per share data does not reflect stock split. Cash dividend of $1,345,072 paid in August 2006. (2) Ratio computed on a fully tax equivalent basis using a marginal tax rate of 35%. (3) Adjusted for Allowance for Off-Balance Sheet Credit Exposure. (4) 2nd Quarter 2007 is estimated. (5) Includes 256,142 shares issued on June 15, 2007 for the Rights Subscription stock offering, totaling $2,817,562 in additional capital.
Contact Information: Contact: Rick McCarty Ron Martin Phone: (209) 848-2265 www.ovcb.com