Oak Valley Community Bank Statement of Condition (unaudited) Profitability 4th 3rd 2nd 1st 4th ($ in thousands, Quarter Quarter Quarter Quarter Quarter except per share) 2007 2007 2007 2007 2006 Selected Quarterly Operating Data: Net interest income $ 4,792 $ 4,859 $ 4,653 $ 4,602 $ 4,515 Provision for loan losses 120 145 120 170 50 Non-interest income 562 506 552 540 541 Non-interest expense 3,897 3,540 3,452 3,320 3,135 Income before income taxes 1,337 1,680 1,633 1,652 1,871 Provision for income taxes 387 667 630 650 717 Net income 950 1,013 1,003 1,002 1,154 Earnings per common share - basic 0.12 0.13 0.14 0.14 0.16 Earnings per common share - diluted 0.12 0.13 0.14 0.14 0.16 Dividends declared per common share (1) - 0.19 - - - Return on average common equity (5) 8.93% 9.75% 11.04% 11.50% 13.48% Return on average assets 0.83% 0.91% 0.90% 0.92% 1.05% Net interest margin (2) 4.50% 4.67% 4.47% 4.49% 4.45% Efficiency Ratio (2) 72.00% 65.24% 65.49% 63.75% 61.23% Capital - Period End Tier 1 risk-based capital ratio (4) 10.08% 9.86% 9.57% 8.47% 8.42% Book value per share (5) $ 5.60 $ 5.45 $ 5.32 $ 5.01 $ 4.85 Credit Quality - Period End Nonperforming assets/assets 2.00% 0.27% 0.00% 0.00% 0.00% Loan loss reserve /loans (3) 1.16% 1.23% 1.22% 1.16% 1.15% Period End Balance Sheet ($ in thousands) Total assets $ 454,401 $ 453,882 $ 441,334 $ 452,520 $ 455,213 Gross Loans 387,809 385,901 376,671 387,580 378,393 Nonperforming assets 9,087 1,216 - - - Allowance for credit losses (3) 4,507 4,757 4,600 4,480 4,341 Deposits 377,348 386,158 364,164 352,086 378,530 Common Equity (5) 42,640 41,462 39,287 35,665 34,424 Non-Financial Data Full-time equivalent staff 125 119 120 115 112 Number of banking offices, domestic and foreign 12 12 12 12 12 Common Shares outstanding Period end (5) 7,607,780 7,606,068 7,379,613 7,122,171 7,103,243 Period average - basic (5) 7,606,506 7,567,719 7,167,879 7,108,923 7,095,114 Period average - diluted (5) 7,727,570 7,717,768 7,341,990 7,293,827 7,358,875 Market Ratios Stock Price $ 8.25 $ 9.94 $ 10.95 $ 11.10 $ 13.03 Price/Earnings 16.64 18.72 19.50 19.43 20.18 Price/Book (5) 1.47 1.82 2.06 2.22 2.69 Profitability ($ in thousands, except per share) Selected Quarterly YEAR TO DATE Operating Data: 12/31/2007 12/31/2006 Net interest income $ 18,906 $ 17,334 Provision for loan losses 555 595 Non-interest income 2,160 1,724 Non-interest expense 14,209 12,220 Income before income taxes 6,302 6,244 Provision for income taxes 2,334 2,413 Net income 3,968 3,831 Earnings per common share - basic 0.54 0.54 Earnings per common share - diluted 0.53 0.52 Dividends declared per common share (1) 0.19 0.19 Return on average common equity (5) 10.22% 11.64% Return on average assets 0.89% 0.93% Net interest margin (2) 4.53% 4.50% Efficiency Ratio (2) 66.65% 64.12% Capital - Period End Tier 1 risk-based capital ratio (4) 10.08% 8.42% Book value per share (5) $ 5.60 $ 4.85 Credit Quality - Period End Nonperforming assets/assets 2.00% 0.00% Loan loss reserve/loans (3) 1.16% 1.15% Period End Balance Sheet ($ in thousands) Total assets $ 454,401 $ 455,213 Gross Loans 387,809 378,393 Nonperforming assets 9,087 - Allowance for credit losses (3) 4,507 4,341 Deposits 377,348 378,530 Common Equity (5) 42,640 34,424 Non-Financial Data Full-time equivalent staff 125 112 Number of banking offices, domestic and foreign 12 12 Common Shares outstanding Period end (5) 7,607,780 7,103,243 Period average - basic (5) 7,364,681 7,062,841 Period average - diluted (5) 7,524,505 7,304,725 Market Ratios Stock Price $ 8.25 $ 13.03 Price/Earnings 15.31 17.97 Price/Book (5) 1.47 2.69 (1) 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) 4th 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.
Contact Information: Contact: Rick McCarty / Ron Martin Phone: (209) 848-2265 www.ovcb.com