Exhibit 99.1

PRESS RELEASE

OAK VALLEY BANCORP REPORTS 4th QUARTER RESULTS

OAKDALE, CA — Oak Valley Bancorp (NASDAQ: OVLY), the bank holding company for Oak Valley Community Bank and Eastern Sierra Community Bank, recently reported financial results for the fiscal year ended December 31, 2010.  Net income for 2010 totaled $4.6 million compared to $2.0 million for 2009.  After adjustment for preferred stock dividends and accretion, net income available to common shareholders was $3.8 million, or $0.49 per diluted share, compared to net income of $1.2 million, or $0.15 per diluted common share, in 2009.

For the three months ended December 31, 2010, the Bank reported net income of $1.5 million. After adjustment for preferred stock dividends and accretion, net income available to common shareholders was $1.3 million, or $0.17 per diluted share, compared to net income of $525 thousand, or $0.07 per diluted common share, for the three months ended December 31, 2009.

Total assets grew to $552.9 million for the year ended December 31, 2010, a 5.4% increase over the prior year. Deposits increased to $476.7 million, which was an increase of $47.5 million, or 11.1% over December 31, 2009.  Gross loans at year end totaled $404.2 million, reflecting a decrease of $21.4 million, or 5.0%, during 2010.

“We are extremely pleased with the overall performance in 2010.  Robust core deposit growth and solid net interest margin led to strong results.  We have built a solid foundation and remain poised to support the communities we serve, as the economy improves,” commented Ron Martin, CEO.

The Bank’s loan loss provision totaled $4.0 million in 2010, compared to $5.9 million in loan loss provision for the year ended December 31, 2009.  The decrease in loan loss provisions reflect a reduction in charge-offs.  Net charge-offs totaled $2.6 million in 2010 versus $4.6 million in 2009.  The allowance for loan losses as a percentage of loans totaled 2.04% at December 31, 2010 compared to 1.65% at December 31, 2009.

Non-performing assets totaled $12.3 million, or 2.22% of total assets at December 31, 2010, compared to $16.6 million, or 3.16% of total assets, at December 31, 2009.  Of the $12.3 million, non-performing loans account for $11.5 million, all secured by real estate, while the

remaining $778,000 is comprised of foreclosed properties.  Write-downs on OREO properties totaled $424,000 during 2010.

“We’ve been successful in mitigating and reducing non-performing assets in 2010.  Our adherence to conservative credit practices has undoubtedly served us well through these precarious times.  While we claim no immunity to the economic woes that challenge all of us today, we are optimistic that the principles which have guided us through our 20 year history will continue to serve us well in the years to come,” said Chris Courtney, President.

Net interest income of $25.0 million for the year ended December 31, 2010, increased by $1.4 million, or 5.8%, from the prior year.  The Bank’s net interest margin was 5.20% for the year ended December 31, 2010, compared to 4.99% for the year ended December 31, 2009.  The increase is a result of the Bank’s ability to reduce its cost of funds at a more rapid rate than the yield on earning assets is declining.

Non-interest expense of $16.8 million for the year ended December 31, 2010, decreased $1.4 million, or 7.9%, from the prior year.  This was the result of a $2.0 million, year over year, reduction in write-downs and expenses associated with foreclosed properties, which was partially offset by increases in employee salaries and benefits, from the prior year.

“Net interest income continues to be a key driver of profitability.  The Bank’s ongoing goal to expand our customer base and serve the banking needs of the community enabled us to increase core deposits and further expand our margin in this low rate environment,” stated Rick McCarty, CFO.

Earlier this year, the Bank announced plans to open new branches in Modesto and Manteca in 2011.  The new locations will bring the Bank’s branch total to 14.  Currently, Oak Valley Community Bank operates through 12 branches in Oakdale, Sonora, Turlock, Stockton, Patterson, Ripon, Escalon, two branches in Modesto; and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop.

For more information on Oak Valley Community Bank, call 1-866-844-7500 or visit www.ovcb.com.

This press release includes forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are based on management’s knowledge and belief as of today and include information concerning the corporation’s possible or assumed future financial condition, and its results of operations and business.  Forward-looking statements are subject to risks and uncertainties.  A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include fluctuations in interest rates, government policies and regulations (including monetary and fiscal policies), legislation, economic conditions, including increased energy costs in California, credit quality of borrowers, operational factors and competition in the geographic and business areas in which the company conducts its operations. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement.

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Oak Valley Community Bank

Statement of Condition (unaudited)