Oak Valley Bancorp operates as the holding company for Oak Valley Community Bank, which provides commercial banking services designed for both individuals and small to medium-sized businesses in Oakdale, California, and the surrounding areas. The company conducts business from its main office in Oakdale. As of December 31, 2012, the company maintained 14 full-service branch offices. Through its branches, it serves customers in the Central Valley, from Fresno to Sacramento, and in foothill locations. Segments The company operates in two primary business segments, Retail Banking and Commercial Banking. Retail Banking: The company offers a range of business checking accounts, savings accounts, regular savings accounts, including negotiable order of withdrawal accounts, money market accounts, overdraft protection, health savings accounts, certificates of deposit, and individual retirement accounts. To satisfy the lending needs of individuals in its service area, the company offers real estate and home equity financing, as well as consumer, automobile, and home improvement loans. Commercial Banking: The company offers a range of deposit and lending services to business customers. It offers various commercial loans for virtually any business, professional, or agricultural need. These include loans for short-term working capital, operating lines of credit, equipment purchases, leasehold improvements, construction, commercial real estate acquisitions, or refinancing. Its business relationships are with customers located in the San Joaquin, Stanislaus, Tuolumne, Inyo, and Mono counties of California. Lending Activities The company is engaged in a full complement of lending activities, including commercial real estate loans; commercial business lending and trade finance; Small Business Administration (SBA) lending; and consumer loans. Real Estate Loans: The company offers commercial real estate loans to finance the acquisition of new or the refinancing of existing commercial properties, such as office buildings, industrial buildings, warehouses, hotels, shopping centers, automotive industry facilities, and multiple dwellings. Commercial real estate loans typically have 10-year maturities with up to 25-year amortization of principal and interest. Construction loans comprise loans on commercial, residential, and income producing properties that generally have terms of one year, with options to extend for additional periods to complete construction and to accommodate the lease-up period. Miniperm loans finance the purchase and/or ownership of commercial properties, including owner-occupied and income producing properties. The company also offers miniperm loans as take-out financing with its construction loans. Equity lines of credit are revolving lines of credit collateralized by junior deeds of trust on residential real properties. The company’s real estate loans are collateralized by first or junior deeds of trust on specific commercial properties and equity lines of credit, and are subject to corporate or individual guarantees from financially capable parties, as available. Commercial Business Lending: The company offers commercial loans to sole proprietorships, partnerships, and corporations, with an emphasis on the real estate related industry. These commercial loans include business lines of credit and commercial term loans to finance operations, to provide working capital or for specific purposes, such as to finance the purchase of assets, equipment or inventory. Lines of credit are extended to businesses or individuals based on the financial strength and integrity of the borrower and are secured primarily by real estate, accounts receivable and inventory, and have a maturity of one year or less. Commercial term loans are typically made to finance the acquisition of fixed assets, refinance short-term debts or to finance the purchase of businesses. Commercial term loans generally have terms from one to five years. The company also provides other banking services tailored to the small business market. SBA Lending Services: The company’s SBA lending service places an emphasis on minority-owned businesses. Its SBA market area includes the geographic areas encompassed by its full-service banking offices in the California Central Valley and in the Eastern Sierra. Consumer Loans: Consumer loans include personal loans, auto loans, home improvement loans, home mortgage loans, revolving lines of credit, and other loans typically made by banks to individual borrowers. Other Services The company offers other services for both individuals and businesses including online banking, remote deposit capture, mobile banking, merchant services, night depository, extended hours, wire transfer of funds, note collection, and automated teller machines in a national network. Regulation The company is subject to regulation under the Bank Holding Company Act of 1956, as amended, which subjects it to Federal Reserve Board reporting and examination requirements. The bank is an insured bank under the Federal Deposit Insurance Act and is a member of the Federal Reserve. The bank is subject to regulation, supervision and regular examination by the California Department of Financial Institutions, the Federal Deposit Insurance Commission, and the Federal Reserve Board. Competition The company competes with Wells Fargo Bank; Bank of America; JP Morgan Chase Bank; and Bank of the West.
oak valley bancorp (OVLY:NASDAQ CM)
125 North Third Avenue
Oakdale, CA 95361
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