Oak Valley Bancorp Announces Repurchase of CPP Warrant From U.S. Treasury

Following its August 2011 redemption of $13,500,000 of Series A Preferred Stock originally issued to the U.S. Treasury in December 2008, Oak Valley Bancorp OVLY, the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, announced that it has reached an agreement with the U.S. Treasury for the repurchase of the warrant that Oak Valley Bancorp had issued to the U.S. Treasury in December 2008 in connection with its participation in the Capital Purchase Program. The purchase price of the warrant is $560,000 and the transaction is expected to settle next week.