Oak Valley Community Bank Statement of Condition (unaudited) 3rd 2nd 1st 4th 3rd Quarter Quarter Quarter Quarter Quarter 2007 2007 2007 2006 2006 Profitability ($ in thousands, except per share) Selected Quarterly Operating Data: Net interest income $ 4,859 $ 4,653 $ 4,602 $ 4,515 $ 4,419 Provision for loan losses 145 120 170 50 140 Non-interest income 506 552 540 541 432 Non-interest expense 3,540 3,452 3,320 3,135 3,082 Income before income taxes 1,680 1,633 1,652 1,871 1,629 Provision for income taxes 667 630 650 717 632 Net income 1,013 1,003 1,002 1,154 997 Earnings per common share - basic 0.13 0.14 0.14 0.16 0.14 Earnings per common share - diluted 0.13 0.14 0.14 0.16 0.14 Dividends declared per common share (1) 0.19 - - - 0.19 Return on average common equity (5) 9.75% 11.04% 11.50% 13.48% 11.91% Return on average assets 0.91% 0.90% 0.92% 1.05% 0.93% Net interest margin (2) 4.67% 4.47% 4.49% 4.45% 4.47% Efficiency Ratio (2) 65.24% 65.49% 63.75% 61.23% 62.72% Capital - Period End Tier 1 risk-based capital ratio (4) 9.76% 9.57% 8.76% 8.42% 8.68% Book value per share (5) $ 5.45 $ 5.32 $ 5.01 $ 4.85 $ 4.66 Credit Quality - Period End Nonperforming assets/assets 0.27% 0.00% 0.00% 0.00% 0.01% Loan loss reserve/loans (3) 1.23% 1.22% 1.16% 1.15% 1.18% Period End Balance Sheet ($ in thousands) Total assets $ 453,882 $ 441,334 $ 452,520 $ 455,431 $ 428,670 Gross Loans 385,901 376,671 387,580 378,393 363,807 Nonperforming assets 1,216 - - - 22 Allowance for credit losses (3) 4,757 4,600 4,480 4,341 4,296 Deposits 386,158 364,164 352,086 378,530 371,950 Common Equity (5) 41,462 39,287 35,665 34,424 33,025 Non-Financial Data Full-time equivalent staff 119 120 115 112 110 Number of banking offices, domestic and foreign 12 12 12 12 12 Common Shares outstanding Period end (5) 7,606,068 7,379,613 7,122,171 7,103,243 7,094,244 Period average - basic (5) 7,567,719 7,167,879 7,108,923 7,095,114 7,090,707 Period average - diluted (5) 7,717,768 7,341,990 7,293,827 7,358,875 7,375,174 Market Ratios Stock Price $ 9.94 $ 10.95 $ 11.10 $ 13.03 $ 14.40 Price/Earnings $ 18.72 $ 19.50 $ 19.43 $ 20.18 $ 25.81 Price/Book (5) $ 1.82 $ 2.06 $ 2.22 $ 2.69 $ 3.09 Profitability YEAR TO DATE -------------------- ($ in thousands, except per share) 9/30/2007 9/30/2006 Selected Quarterly Operating Data: Net interest income $ 14,114 $ 12,818 Provision for loan losses 435 545 Non-interest income 1,598 1,183 Non-interest expense 10,312 9,084 Income before income taxes 4,965 4,372 Provision for income taxes 1,947 1,696 Net income 3,018 2,676 Earnings per common share - basic 0.41 0.38 Earnings per common share - diluted 0.41 0.36 Dividends declared per common share (1) 0.19 0.19 Return on average common equity (5) 10.71% 11.11% Return on average assets 0.91% 0.90% Net interest margin (2) 4.54% 4.53% Efficiency Ratio (2) 64.83% 64.88% Capital - Period End Tier 1 risk-based capital ratio (4) 9.57% 8.68% Book value per share (5) $ 5.45 $ 4.66 Credit Quality - Period End Nonperforming assets/assets 0.27% 0.01% Loan loss reserve/loans (3) 1.23% 1.18% Period End Balance Sheet ($ in thousands) Total assets $ 453,882 $ 428,670 Gross Loans 385,901 363,807 Nonperforming assets 1,216 22 Allowance for credit losses (3) 4,757 4,296 Deposits 386,158 371,950 Common Equity (5) 41,462 33,025 Non-Financial Data Full-time equivalent staff 119 110 Number of banking offices, domestic and foreign 12 12 Common Shares outstanding Period end (5) 7,606,068 7,094,244 Period average - basic (5) 7,283,187 7,051,965 Period average - diluted (5) 7,443,004 7,375,978 Market Ratios Stock Price 9.94 14.40 Price/Earnings 17.94 28.38 Price/Book (5) 1.82 3.09 (1) Dividend per share data does not reflect stock split. Cash dividend of $1,444,697 paid in August 2007 and $1,345,072 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) 3rd Quarter 2007 is estimated. (5) Includes 256,142 shares issued on June 15, 2007 for the Rights Subscription stock offering and 200,289 shares issued on July 16, 2007 for the Remaining shares stock offering, totaling $5,020,739 in additional capital less the $1,444,697 cash dividend paid in August 2007.
Contact Information: Contact: Rick McCarty / Ron Martin Phone: (209) 848-2265 www.ovcb.com