Welcome to our dedicated news page for Ohio Valley Banc (Ticker: OVBC), a resource for investors and traders seeking the latest updates and insights on Ohio Valley Banc.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Ohio Valley Banc's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Ohio Valley Banc's position in the market.
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Ohio Valley Banc Corp. reported a decrease in net income for the 1st quarter of 2024 compared to the same period in 2023. Despite challenges from the interest rate environment impacting net interest margin, the company remains focused on quality loan growth. The net interest margin decreased due to increased funding costs, although average earning assets grew. Loan balances increased, with commercial and residential real estate lending leading the growth. Noninterest income saw a decline due to the closure of Race Day Mortgage, while noninterest expenses increased primarily due to salaries and employee benefits. The provision for credit loss expense and nonperforming loans increased, but the allowance for credit losses also grew. Total assets, deposits, and shareholders' equity showed positive growth. Ohio Valley Banc Corp.'s common stock trades on the NASDAQ Global Market under the symbol OVBC.
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Ohio Valley Banc Corp. (OVBC) announced a cash dividend of $0.22 per common share payable on May 10, 2024, to shareholders of record as of April 26, 2024. The company's Chairman of the Board, Tom Wiseman, highlighted the dedication of the team in navigating the changing economy and ensuring shareholder value.
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Seth I. Michael joins Ohio Valley Banc Corp. and Ohio Valley Bank as a Director, bringing a wealth of experience in politics, real estate, and sales. His tenure begins on April 1, emphasizing the company's commitment to community involvement. Michael's background in public service and various professional roles positions him well for his new role.
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Ohio Valley Banc Corp. reported a decrease in net income for the quarter ended December 31, 2023, compared to the previous year. Earnings per share for 2023 also saw a decline. The net interest margin decreased for the fourth quarter of 2023, contributing to a decrease in net interest income. The provision for credit losses increased for the year ended December 31, 2023. Noninterest income saw an increase for both the quarter and the year-to-date periods, primarily due to a decrease in the loss on the sale of securities from the prior year. Noninterest expense increased, with the largest increase in salaries and employee benefits. Total assets, loan balances, and interest-bearing deposits with banks all increased, while the fair value of securities decreased.
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Ohio Valley Banc Corp. [Nasdaq: OVBC] declared a cash dividend of $0.22 per common share, continuing its streak of 126 consecutive quarterly dividends. The dividend is payable on Feb. 10, 2024, to shareholders of record as of Jan. 26, 2024. OVBC Chairman of the Board, Tom Wiseman, expressed gratitude for the dedicated individuals contributing to the company's success.
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Ohio Valley Banc Corp. reports a decrease in net income for Q3 2023 compared to the same period last year. Earnings per share also decreased. The company attributes the decrease to the rise in interest rates and competition for deposits. However, they remain optimistic about their ability to navigate challenges.
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Ohio Valley Banc Corp. declares cash dividend of $0.22 per common share
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Ohio Valley Banc Corp
Nasdaq:OVBC
OVBC Rankings
OVBC Stock Data
110.25M
3.84M
19.92%
15%
0.43%
Commercial Banking
Finance and Insurance
United States of America
GALLIPOLIS
About OVBC
established in 1872, ohio valley bank operates fourteen offices in southern ohio and western west virginia. the bank is headquartered in gallipolis, ohio and is a subsidiary of ohio valley banc corp. ohio valley bank is credited for many banking "firsts" in its region. the bank was the first in gallia county to offer atms, in-store branches, banking on sunday and most holidays, internet banking, and mobile banking. ohio valley bank is a member fdic and an equal housing lender. ohio valley banc corp., the parent company of ohio valley bank, is publicly traded on the nasdaq global market under the symbol ovbc.