OAKDALE − Oak Valley Bancorp — the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank — reported consolidated net income of $1,526,000, or $0.19 per diluted common share for the first quarter of 2015.

 This compared to consolidated net income of $1,642,000, or $0.20 per diluted common share, for the prior quarter and $1,408,000, or $0.18 per diluted common share, for the same period a year ago. 

Total assets were $753.6 million at March 31, 2015, an increase of $3.9 million over December 31, 2014 and $66.0 million over March 31, 2014. 

Net interest income for the three months ended March 31, 2015 was $6,201,000, compared to $6,621,000 in the prior quarter and $6,104,000 for the same period last year. The reduction versus the prior quarter is the result of fewer days in the quarter, lower recognition of loan fees and continued interest rate pressure. The net interest margin for the three months ended March 31, 2015 was 3.74%, compared to 4.19% for the prior quarter and 4.04% for the same period last year. 

The Company currently operates through 15 branches in Oakdale, Sonora, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, three branches in Modesto, Tracy, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop. The Company plans to open a second branch in Sonora