Oak Valley Bancorp Chief Executive Officer to Retire
OAKDALE, CA -- (Marketwire) -- 03/06/13 -- Oak Valley Bancorp
(NASDAQ: OVLY), the bank holding company for Oak Valley Community
Bank and Eastern Sierra Community Bank, is announcing that Ronald C.
Martin has communicated to the Boards of Directors of Oak Valley
Bancorp and Oak Valley Community Bank his decision to retire as Chief
Executive Officer of each entity on June 18, 2013. Mr. Martin plans
to remain available after his retirement to ensure a smooth
transition of offices.
Mr. Martin began his banking career in 1977 and joined Oak Valley
Community Bank as President and Chief Executive Officer in March
1992, shortly after its formation.
While at the helm, Mr. Martin has seen the Bank grow from a
single-location de novo bank, to a full-service, fourteen branch
community bank serving a five-county footprint with over $650 million
in assets. He played an instrumental role throughout that time in
building the Bank and shareholder confidence, particularly during
some of the early, formative years.
In his retirement, Mr. Martin plans to remain a member of the Board
of Directors and continue to provide strategic guidance to the
Company's and the Bank's Boards. Upon the announcement, Martin
stated, "After nearly four decades in the industry, I am ready to
take a smaller role in the organization and hand the managerial
reigns to the next generation of leadership. The executive team will
continue to build on the Bank's strong corporate culture, while
providing the vision to deliver new opportunities and growth to our
customers, employees and communities, and to the shareholders of the
Company. I look forward to the prospect of carrying on as Director of
the Bank and the Company, and of continuing to provide insight and
guidance to help the Company and the Bank further along their already
Company and Bank Board Chairman James Gilbert commended Mr. Martin on
his leadership throughout the years. "Under Ron's leadership, Oak
Valley Community Bank has provided a premier service experience for
customers and numerous employment opportunities in the communities we
serve. He defined a conservative approach to growth which has proven
to be the key to Oak Valley's resilience and success. Over the
21 years, Ron has assembled a very strong executive team which will
ensure a smooth transition moving forward," added Mr. Gilbert.
Concurrent to the announcement, the Boards of Directors indicated
that the Company and the Bank have already laid out a succession plan
pursuant to which Christopher M. Courtney, the current President of
the Company and of the Bank, and also a veteran of the local banking
industry, is ready to take the helm as Chief Executive Officer of the
Company and the Bank following Mr. Martin's retirement. Mr. Courtney
has been with the Bank since 1996, serving as its President since
2004, and as President of the Company since 2008. He was appointed to
and has served on the respective Boards of Directors since 2007.
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 online at
Ron Martin/Chris Courtney/Rick McCarty
Phone: (209) 848-BANK (2265)
Toll Free (866) 844-7500
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