Last $22.55 USD
Change Today +0.30 / 1.35%
Volume 15.9K
NOVB On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

north valley bancorp (NOVB) Snapshot

Open
$22.38
Previous Close
$22.25
Day High
$22.55
Day Low
$21.61
52 Week High
01/22/14 - $25.40
52 Week Low
12/11/13 - $18.56
Market Cap
154.2M
Average Volume 10 Days
7.2K
EPS TTM
$0.53
Shares Outstanding
6.8M
EX-Date
01/29/09
P/E TM
42.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for NORTH VALLEY BANCORP (NOVB)

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north valley bancorp (NOVB) Details

North Valley Bancorp operates as a bank holding company for North Valley Bank that provides commercial and retail banking services to businesses and middle income individuals in California. The company accepts various deposit products, including demand deposits, interest bearing demand deposits, regular savings, money market deposit accounts, and time deposits. It also provides various loan products comprising commercial loans; real estate commercial, construction and development, and mortgage loans; installment loans; consumer loans; and home equity loans. In addition, the company issues cashier’s checks and money orders; and offers safe deposit boxes and other customary banking services. As of January 21, 2014, it operated 22 banking offices in Shasta, Trinity, Humboldt, Del Norte, Yolo, Sonoma, Placer, and Mendocino counties. The company was founded in 1972 and is headquartered in Redding, California.

297 Employees
Last Reported Date: 03/12/14
Founded in 1972

north valley bancorp (NOVB) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $462.5K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $284.6K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $234.9K
General Counsel, Corporate Secretary, General...
Total Annual Compensation: $263.6K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $244.9K
Compensation as of Fiscal Year 2013.

north valley bancorp (NOVB) Key Developments

North Valley Bancorp (North Valley) and Trico Bancshares Names as Defendants in Putative Class Action

North Valley Bancorp (North Valley), the members of its board of directors and TriCo Bancshares (TriCo) have been named as defendants in a putative class action filed on behalf of North Valley shareholders. The lawsuit, which is captioned Solak v. North Valley Bancorp, et al., Case No. 179099 (the Action) and filed in the Superior Court of the State of California, Shasta County (the Court), challenges, among other things, the agreement and plan of merger, dated as of January 21, 2014 by and between TriCo and North Valley and the proposed merger between TriCo and North Valley contemplated therein. On July 31, 2014, following settlement discussions, the defendants entered into a memorandum of understanding with the plaintiffs regarding the settlement of the Action. In connection with the settlement contemplated by the memorandum of understanding and in consideration for the full settlement and release of all claims under the Action, TriCo and North Valley agreed to make certain additional disclosures related to the proposed merger. The memorandum of understanding contemplates that the parties will negotiate in good faith and uses their reasonable best efforts to enter into a stipulation of settlement. The stipulation of settlement will be subject to customary conditions, including Court approval following notice to North Valley's shareholders. In the event that the parties enter into a stipulation of settlement, a hearing will be scheduled at which the Court will consider the settlement. There can be no assurance that the parties will ultimately enter into a stipulation of settlement or that the Court will approve the settlement even if the parties were to enter into such stipulation. In such event, the proposed settlement as contemplated by the memorandum of understanding may be terminated. The settlement will not affect the timing of the annual meeting of TriCo shareholders or the special meeting of North Valley shareholders, which are both scheduled to be held on August 7, 2014. The settlement is not, and should not be construed as, an admission of wrongdoing or liability by any defendant.

North Valley Bancorp Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2014

North Valley Bancorp announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income of $7,446,000 against $7,578,000 a year ago. Income before provision for income taxes was $1,575,000 against $1,293,000 a year ago. Net income was $1,260,000 or $0.18 basic and diluted per share against $894,000 or $0.13 basic and diluted per share a year ago. Return on average total assets was 0.55% against 0.40% a year ago. Return on average shareholders' equity 5.19% against 3.69% a year ago. Interest income decreased, primarily due to a decrease in investment securities income as a result of a decrease in average investment securities balances, and secondarily due to decrease in loan income. For the six months, the company reported net interest income of $15,208,000 against $15,014,000 a year ago. Income before provision for income taxes was $3,011,000 against $3,170,000 a year ago. Net income was $2,179,000 or $0.32 basic and diluted per share against $2,155,000 or $0.31 diluted per share a year ago. Book value per share as on June 30, 2014 was $14.46 against $13.57 as at June 30, 2013. Tangible book value per share as on June 30, 2014 was $14.46 against $13.54 as at June 30, 2013. Return on average total assets was 0.48% against 0.48% a year ago. Return on average shareholders' equity 4.57% against 4.49% a year ago. For the quarter, the company reported net charge-offs of $46,000 compared to $124,000 a year ago.

North Valley Bancorp Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge Offs for the First Quarter Ended March 31, 2014

North Valley Bancorp reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total interest income of $8,119,000 compared to total interest income of $7,868,000 for the same period a year ago. Net interest income was $7,762,000 compared to $7,436,000 last year. Income before provision for income taxes was $1,436,000 compared to $1,877,000 last year. Net income was $919,000 or $0.13 per basic and diluted share compared to $1,261,000 or $0.18 per basic and diluted share last year. Net interest income increased $326,000, or 4.4%, for the three months ended March 31, 2014 compared to the same period in 2013. Interest income increased by $251,000, or 3.2%, primarily due to an increase in average earning asset balances. Book value per share was $13.99 compared to $14.18 per share last year. Tangible book value per share was $13.97 compared to $14.15 per share last year. Return on average total assets was 0.41% compared to 0.57% last year. Return on average shareholders' equity was 3.92% compared to 5.30% last year. Gross loan charge offs for the first quarter of 2014 were $298,000 and recoveries totaled $55,000 resulting in net charge offs of $243,000. Gross loan charge offs for the first quarter of 2013 were $1,056,000 and recoveries totaled $249,000 resulting in net charge offs of $807,000.

 

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Industry Analysis

NOVB

Industry Average

Valuation NOVB Industry Range
Price/Earnings 41.9x
Price/Sales 3.6x
Price/Book 1.5x
Price/Cash Flow 41.7x
TEV/Sales NM Not Meaningful
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