Welcome to our dedicated page for Ohio Valley Banc news (Ticker: OVBC), a resource for investors and traders seeking the latest updates and insights on Ohio Valley Banc stock.
Ohio Valley Banc Corp. (OVBC), a regional financial institution serving communities since 1872, provides timely updates through this dedicated news hub. Investors and stakeholders will find authoritative coverage of earnings announcements, leadership changes, product innovations, and community initiatives impacting this NASDAQ-listed company.
This resource consolidates all official press releases and verified financial developments related to OVBC's banking operations across southeastern Ohio and western West Virginia. Key updates include quarterly performance reports, strategic expansions, digital banking enhancements, and regulatory filings – essential information for assessing the company's position in regional financial markets.
Regular updates feature OVBC's commercial lending activities, consumer finance solutions, and technology initiatives that maintain its competitive edge. The bank's commitment to local economic growth through small business support and financial education programs is also documented here.
Bookmark this page for streamlined access to OVBC's evolving story as it balances traditional community banking values with modern financial service demands. Check back regularly for unfiltered updates directly affecting shareholder value and regional economic developments.
Ohio Valley Banc Corp. [Nasdaq: OVBC] reported Q2 2024 consolidated net income of $2,972,000, down $277,000 from Q2 2023. Earnings per share decreased to $0.63 from $0.68 year-over-year. For H1 2024, net income was $5,765,000, a 19.4% decline from H1 2023, with EPS falling to $1.21 from $1.50. Return on average assets and equity for H1 2024 were 0.84% and 8.01%, respectively, down from 1.16% and 10.63% in H1 2023.
The company faced challenges from a difficult interest rate environment and rising inflation-related costs. Q2 net interest income increased by $349,000, while H1 net interest income decreased by $183,000 year-over-year. The allowance for credit losses was 0.91% of total loans as of June 30, 2024. Total assets reached $1.403 billion, up $51 million from December 31, 2023, with loan balances increasing by $68 million.
Ohio Valley Banc Corp. (OVBC) has declared a cash dividend of $0.22 per common share, payable on Aug. 10, 2024, to shareholders of record as of July 26, 2024. Tom Wiseman, OVBC Chairman, expressed satisfaction with the company's performance in the first half of 2024, enabling this quarterly dividend. He emphasized their Community First mission and encouraged others to become shareholders.
OVBC, based in Gallipolis, Ohio, 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. The company continues to focus on community engagement and customer appreciation events.
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