8-K
Oak Valley Bancorp (OVLY)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of theSecurities Exchange Act of 1934.
Date of Report: April **** 27 , 20 20
(Date of earliest event reported)
Oak Valley Bancorp
(Exact name of registrant as specified in its charter)
| CA | 001-34142 | 26-2326676 |
|---|---|---|
| (State or other jurisdiction | (Commission File | (IRS Employer |
| of incorporation) | Number) | Identification Number) |
| 125 N. Third Ave. Oakdale, CA | 95361 | |
| --- | --- | |
| (Address of principal executive | (Zip Code) | |
| offices) |
(209) 848-2265
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock | OVLY | The Nasdaq Stock Market, LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 5 — Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On April 27, 2020, Oak Valley Bancorp issued a press release announcing that Michael Q. Jones will be retiring as a director of Oak Valley Bancorp and of its wholly owned subsidiary Oak Valley Community Bank effective May 31, 2020.
A copy of the press release announcing Mr. Jones's retirement as director of each entity is filed as Exhibit 99.1 hereto, which is incorporated herein by reference.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit | **** |
|---|---|
| Number | Description |
| 99.1 | Press Release dated April 27, 2020 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: April 27, 2020 | **** | |
|---|---|---|
| OAK VALLEY BANCORP | ||
| By: | /s/ Jeffrey A. Gall | |
| Jeffrey A. Gall | ||
| Senior Vice President and Chief Financial Officer | ||
| (Principal Financial Officer and duly authorized signatory) |
ex_183037.htm
Exhibit 99.1
| **** P RESS RELEASE |
|---|
For Immediate Release
| Date: | April 27, 2020 |
|---|---|
| Contact: | Chris Courtney/Rick McCarty |
| --- | --- |
| Phone: | (209) 848-BANK (2265) |
| --- | --- |
| Toll Free (866) 844-7500 | |
| --- | |
| www.ovcb.com | |
| --- |
OAK VALLEY COMMUNITY BAN K DIRECTOR **** RETIRES
OAKDALE, CA – Oak Valley Bancorp (NASDAQ: OVLY) (“the Bancorp”), the bank holding company for Oak Valley Community Bank (“the Bank”) and Eastern Sierra Community Bank, announced the retirement of Michael Q. Jones from the Bank and Company’s Boards of Directors, effective May 31, 2020.
Mr. Jones has served as director of the Bank since 2004 and the Bancorp since its formation in 2008. He has been involved in land development and commercial real estate for over 40 years. Mr. Jones is a retired Chairman of California Gold Development Corporation and Prudential California Realty in Sonora.
Prior to joining the board, Jones played an instrumental role in helping the bank establish a foothold in the Sonora region. Throughout his directorship, he provided substantial insight regarding land development and commercial real estate growth opportunities in Tuolumne County as well as other parts of the bank’s footprint. “We are happy for Mike in his retirement. His governance and support through the years is deeply appreciated and we wish him all the best,” stated President and CEO, Chris Courtney.
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 17 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, 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.