Oak Valley Community Bank Awarded $75,000 to Support First-Time Homebuyers
OAKDALE, CA -- (Marketwired) -- 04/12/13 -- Oak Valley Community
Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY),
is pleased to announce the Federal Home Loan Bank (FHLB) of San
Francisco awarded $75,000 in Affordable Housing Program (AHP) funds
to the Bank as part of the 2013 Workforce Initiative Subsidy for
Homeownership (WISH) Program.
AHP funds through the WISH Program will be used for first-time
homebuyers through agency partners such as Habitat for Humanity of
Stanislaus County and Tuolumne County and the County of Tuolumne
Housing Division. The Bank has applied for AHP funds on an annual
basis since 2009; and has developed a multi-faceted partnership with
these agencies and is committed to helping meet the need for
affordable housing in local communities.
About WISH Program:
Under the Workforce Initiative Subsidy for
Homeownership Program, the Federal Home Loan Bank sets aside a
portion of its annual Affordable Housing Program contribution to
provide matching grants through FHLB members for down payment and
closing cost assistance.
To learn more visit: http://www.fhlbsf.com
About Oak Valley Community Bank:
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 www.ovcb.com.
Ron Martin/Chris Courtney
Phone: (209) 848-BANK (2265)
Toll Free (866) 844-7500
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