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Oak Valley Community Bank to Open New Branch in Lodi

1. Oak Valley Community Bank receives regulatory approval for new branch. 2. Lodi branch will be the bank's 19th location and enhance accessibility. 3. Branch aims to introduce services to new clientele in San Joaquin County. 4. Expansion supports bank's growth strategy and potential revenue increase.

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FAQ

Why Bullish?

Branch expansion can lead to increased customer base and deposits, similar to past successful openings.

How important is it?

New branch openings are crucial for community banks, directly impacting financing and deposits.

Why Long Term?

The investment in new branches typically takes time to materialize into profits.

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OVLY
OAKDALE, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY) recently announced it has received regulatory approval to establish its 19th full-service branch. The new office will be located at 31 South School Street in downtown Lodi and is scheduled to open mid-2025. Established in 1991, Oak Valley Community Bank opened its first branch in San Joaquin County in 2005. The Lodi Branch will be the bank’s sixth location in the county and offer a full line of personal and commercial banking services, a traditional walk-up ATM, and night deposit service. The branch will also include offices for commercial lending and administrative personnel. “We are pleased to expand our branch network into Lodi. This adds another convenient location to our footprint,” stated Rick McCarty, President & Chief Operating Officer. “As a community bank headquartered in the Central Valley, this addition will allow us to provide increased accessibility to clients and introduce our unique brand of first-class service to a new audience of prospective clients, particularly those in the northern portion of San Joaquin County,” he concluded. Oak Valley Bancorp operates Oak Valley Community Bank & their Eastern Sierra Community Bank division, through which it offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, 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. Contact:Chris Courtney/Rick McCartyPhone:(209) 848-BANK (2265) Toll Free (866) 844-7500 www.ovcb.com

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