SOURCE: Oak Valley Community Bank

November 27, 2007 20:43 ET

Oak Valley Community Bank to Apply for Establishment of Bank Holding Company

OAKDALE, CA--(Marketwire - November 27, 2007) - Oak Valley Community Bank (OTCBB: OVYB) announced plans to establish a one-bank holding company called Oak Valley Bancorp. The Board of Directors of Oak Valley Community Bank, at their regular meeting on November 20, 2007, approved a resolution which allows the Bank to apply to the Federal Reserve Board of San Francisco (FRB) for the formation of a one-bank holding company. It is expected that the application to the FRB will be submitted in 2008.

"The formation of Oak Valley Bancorp is the first step to facilitate the expansion of the business activities of the Bank. The establishment of the holding company is designed to promote our ability to provide continued long-term value to our shareholders," stated Ron Martin, CEO.

Established in 1991, Oak Valley Community Bank offers a variety of loan and deposit products dedicated to serving the needs of individuals and small businesses. The Bank currently operates through 12 conveniently located branches: Oakdale, Escalon, Sonora, Turlock, Stockton, Patterson, Ripon, two branches in Modesto, and three branches in their Eastern Sierra Division, which include Bridgeport, Mammoth Lakes and Bishop. They recently completed restoration of the Historic First National Bank building in Oakdale and they are near completion on their full-service branch on March Lane in Stockton.

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