橡木谷银行 2026年季度报告

Form10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _______ to __________ Commission file number: 001-34142 OAK VALLEY BANCORP (Exact name of registrant as specified in its charter) (209) 848-2265(Registrant’s telephone number, including area code) Not applicable(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒ Accelerated filer☐Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicabledate:8,413,458 shares of common stock outstanding as of May 1, 2026. Table of Contents Oak Valley BancorpMarch 31, 2026 Table of Contents PARTI–FINANCIAL INFORMATION Item 1.Financial Statements1Condensed Consolidated Balance Sheets at March 31, 2026 (Unaudited) and December31, 20251Condensed Consolidated Statements of Income for the three-month periods ended March 31, 2026 and March 31, 2025(Unaudited)2Condensed Consolidated Statements of Comprehensive Income for the three-month periods ended March 31, 2026 andMarch 31, 2025 (Unaudited)3Condensed Consolidated Statements of Changes in Shareholders’Equity for the three-month periods ended March 31,2026 and March 31, 2025 (Unaudited)4Condensed Consolidated Statements of Cash Flows for the three-month periods ended March 31, 2026 and March 31,2025 (Unaudited)5Notes to Condensed Consolidated Financial Statements (Unaudited)6Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures About Market Risk38Item 4.Controls and Procedures38PARTII–OTHER INFORMATION39Item 1.Legal Proceedings39Item 1A.Risk Factors39Item 2.Unregistered Sales of Equity Securities and Use of Proceeds39Item 3.Defaults Upon Senior Securities39Item 4.Mine Safety Disclosures39Item 5.Other Information39Item 6.Exhibits40 PART I–FINANCIAL STATEMENTS OAK VALLEY BANCORPCONDENSED CONSOLIDATED BALANCE SHEETS OAK VALLEY BANCORPCONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) OAK VALLEY BANCORPCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) THREE MONTHS ENDEDMARCH 31,(dollars in thousands)20262025Net income$5,309$5,297Other comprehensive loss:Unrealized holding loss arising during the period(5,581)(3,787)Less: reclassification for net loss included in net income50Other comprehensive loss, before tax(5,576)(3,787)Tax benefit related to items of other comprehensive income1,6491,120Total other comprehensive loss(3,927)(2,667)Comprehensive income$1,382$2,630 The accompanying notes are an integral part of these condensed consolidated financial statements. OAK VALLEY BANCORPCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (dollars in thousands)THREE MONTHS ENDEDMARCH 31,20262025CASH FLOWS FROM OPERATING ACTIVITIES:Net income$5,309$5,297Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses464274Increase in deferred fees/costs, net(114)(204)Depreciation391331Amortization of investment securities, net211195Unrealized loss (gain) on equity securities22(59)Amortization of operating lease right-of-use asset(59)(59)Stock based compensation252201Loss on calls of available-for-sale securities50Earnings on cash surrender value of