The chief executive of Oak Valley Bancorp (OVLY) in Oakdale, Calif., is retiring, and its current president will succeed him.

Ronald Martin will retire June 18 as CEO of the $660 million-asset company and its main banking unit, Oak Valley Community Bank. He plans to remain on Oak Valley's board and will be available to assist with the transition, according to a press release Wednesday.

Christopher Courtney will be CEO of the parent company and the bank. Courtney joined the bank in 1996. He has been president of the bank since 2004 and the parent company since 2008.

Martin joined the bank as president and chief executive in 1992, the year after it was founded, the release says.

"After nearly four decades in the industry, I am ready to take a smaller role in the organization and hand the managerial reins to the next generation of leadership," Martin said in the news release.

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