OVBC announces extension of Stock Buyback Program

Rhea-AI Summary

Ohio Valley Banc Corp. (Nasdaq: OVBC) has announced the extension of its existing stock buyback program until August 31, 2026. The program, which was initially approved in 2021, authorizes the repurchase of up to $5 million in outstanding common stock. As of August 19, 2025, the company has already repurchased approximately $2.97 million in common stock.

The Board of Directors has maintained all original terms of the buyback program, retaining the authority to terminate or amend it before the expiration date. This extension represents the company's continued commitment to returning value to shareholders.

Positive

• Authorization to repurchase up to $5 million in outstanding common stock remains active
• Company has already executed $2.97 million in share repurchases, showing commitment to the program
• One-year extension provides continued flexibility for capital return to shareholders

Negative

• Remaining buyback capacity limited to approximately $2.03 million
• Board retains right to terminate or amend program, creating uncertainty

GALLIPOLIS, Ohio, Aug. 20, 2025 /PRNewswire/ -- Ohio Valley Banc Corp. [Nasdaq: OVBC] (the "Company") announced the Board of Directors has authorized the extension date of its existing stock buyback program to August 31, 2026.

The program was originally approved by the board in 2021 and was set to expire August 31 of this year. With the extension, the share repurchase program will continue to authorize the repurchase of up to $5 million in shares of the Company's outstanding common stock. As of August 19, 2025, the Company had repurchased approximately $2,967,000 in common stock.

Other than the extension of the program for an additional year, no changes were made to the stock buyback program. The program may be terminated or amended by the Board at any time prior to the expiration date.

About Ohio Valley Banc Corp.
Ohio Valley Banc Corp. common stock is traded on The NASDAQ Global Market under the symbol OVBC. Ohio Valley Banc Corp. is based in Gallipolis, Ohio. The company owns The Ohio Valley Bank Company, with 17 offices in Ohio and West Virginia, and Loan Central, Inc., with six consumer finance offices in Ohio. Learn more about Ohio Valley Banc Corp. at www.ovbc.com.

Contact: Scott Shockey, CFO, 740-446-2631

View original content:https://www.prnewswire.com/news-releases/ovbc-announces-extension-of-stock-buyback-program-302534971.html

SOURCE Ohio Valley Banc Corp.

FAQ

When does OVBC's extended stock buyback program expire?

OVBC's stock buyback program has been extended to August 31, 2026, a one-year extension from its previous expiration date.

How much has OVBC spent on share repurchases under the current program?

As of August 19, 2025, OVBC has repurchased approximately $2.967 million in common stock under the program.

What is the total amount authorized under OVBC's stock buyback program?

The program authorizes the repurchase of up to $5 million in OVBC's outstanding common stock.

How much remains available in OVBC's buyback program?

Based on the $5 million authorization and $2.967 million already spent, approximately $2.03 million remains available for future share repurchases.

Can OVBC's buyback program be terminated before August 2026?

Yes, the Board of Directors retains the right to terminate or amend the program at any time prior to the expiration date.