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) is a financial holding company based in Gallipolis, Ohio, and the parent of The Ohio Valley Bank Company and Loan Central, Inc. Its news flow reflects the activities of a regional commercial and consumer banking organization operating in Ohio and West Virginia.
Visitors to this OVBC news page will find company-issued updates such as quarterly and year-to-date earnings announcements filed via Form 8-K, where Ohio Valley Banc Corp reports net income, earnings per share, net interest income, net interest margin, and key balance sheet trends. These releases also describe loan growth across commercial real estate, commercial and industrial, and residential real estate segments, as well as changes in consumer lending and deposit composition.
The company regularly announces decisions by its Board of Directors regarding quarterly cash dividends on common shares, including per-share amounts, payment dates, and record dates. News items also cover corporate actions such as the authorization and extension of a share repurchase program and the amount of common stock repurchased under that program.
Another category of OVBC news relates to its participation in the Ohio Treasurer’s Ohio Homebuyer Plus program and the associated Sweet Home Ohio deposit account, which influences the company’s securities portfolio and funding mix. The company has also issued news about its inclusion in the Russell 3000 Index and related Russell 2000 small-cap index.
By following this page, readers can review a chronological record of earnings releases, dividend declarations, capital management actions, and other material events that Ohio Valley Banc Corp reports through press releases and SEC Form 8-K filings.
Ohio Valley Banc Corp. (OVBC) announced on April 18, 2023, that its Board of Directors has declared a cash dividend of $0.22 per common share. This cash dividend will be payable on May 10, 2023, to shareholders who are on record as of the close of business on April 28, 2023.
Chairman Tom Wiseman expressed enthusiasm about delivering this increased quarterly dividend, emphasizing the company's commitment to reward loyal shareholders while navigating upcoming challenges and opportunities. Ohio Valley Banc Corp. operates The Ohio Valley Bank Company, which has 17 branches in Ohio and West Virginia, and Loan Central, Inc., with six finance offices in Ohio.
Ohio Valley Banc Corp. (OVBC) reported a 53.0% increase in consolidated net income for Q4 2022, totaling $3,524,000, with earnings per share rising to $.74 from $.48 in Q4 2021. For the year, net income reached $13,338,000, a 13.7% increase, with EPS growing to $2.80 from $2.45. The net interest margin improved to 4.38% in Q4, up from 3.51% in Q1 2022, attributed to higher market interest rates. Noninterest income rose to $10,162,000 for the year, while total assets decreased by $39 million to $1.211 billion as of December 31, 2022.
Ohio Valley Banc Corp. (OVBC) announced a cash dividend of $0.21 per common share, payable on Feb. 10, 2023, to shareholders of record as of Jan. 27, 2023. This reflects OVBC's commitment to providing consistent quarterly dividends. The company celebrated its 150th anniversary in 2022 and emphasized its strength and readiness for upcoming opportunities, as stated by Chairman Tom Wiseman.
Ohio Valley Banc operates The Ohio Valley Bank with 17 locations in Ohio and West Virginia, and Loan Central, Inc., which manages six offices in Ohio.
Ohio Valley Banc Corp. (OVBC) reported a consolidated net income of $3.69 million for Q3 2022, marking a 21.5% increase from the previous year, with earnings per share rising to $0.77 from $0.63. For the first nine months of 2022, net income reached $9.81 million, a 4.1% increase. Net interest income grew by $1.49 million in Q3, driven by a higher net interest margin of 4.03%. Noninterest expenses increased by $878,000 in Q3, largely due to rising salaries and operational expenses. Total assets were $1.252 billion, with total deposits up $14 million but shareholders' equity down by $13 million.
Ohio Valley Banc Corp. (Nasdaq: OVBC) has announced a cash dividend of $0.21 per common share, payable on Nov. 10, 2022. Shareholders of record as of Oct. 28, 2022 will receive this dividend, continuing the company’s tradition of regular quarterly payments. This announcement coincides with the bank’s 150th anniversary and the recent opening of a new branch in Ironton, Ohio, reinforcing its commitment to community banking.
Ohio Valley Banc Corp. (OVBC) announced the extension of its stock buyback program until August 31, 2023, originally set to expire this year. The program allows for the repurchase of up to $5 million in shares. As of August 17, 2022, approximately $954,000 in common stock had already been repurchased. The company emphasizes that there are no changes to the program besides the extension, which reflects a commitment to enhancing shareholder value.
Ohio Valley Banc Corp. (OVBC) reported a net income of $1,999,000 for Q2 2022, down $862,000 year-over-year, with EPS declining to $0.42 from $0.60. For the first half, net income totaled $6,124,000, a 4.2% decrease. While net interest income rose by $338,000 in Q2, the net interest margin fell to 3.58% due to a shift in asset composition. Noninterest expense increased by 7.2% in the first half, driven by staffing costs and software expenses. Total assets reached $1.254 billion, while shareholders' equity declined by $9 million, reflecting a fair value adjustment on securities.
On July 19, 2022, Ohio Valley Banc Corp. (OVBC) declared a cash dividend of $0.21 per common share, payable on August 10, 2022. Shareholders of record as of the close of business on July 29, 2022 will receive this dividend. This marks the fourth dividend of the year, including a special 150th Anniversary Dividend. The company is also expanding its presence with a new Ironton Office set to open later this summer, reinforcing its commitment to growth and shareholder returns.
Ohio Valley Banc Corp. (Nasdaq: OVBC) held its Annual Shareholders Meeting on May 18, 2022, where significant leadership changes were announced. Larry E. Miller, II, was promoted to CEO, while Ryan J. Jones became COO. The board also declared a special dividend of $0.15 per common share, payable on June 10, 2022, to shareholders of record by May 31, 2022, celebrating the bank's 150th anniversary. This special dividend is in addition to regular dividends already paid this year.
Ohio Valley Banc Corp. (OVBC) reported a consolidated net income of $4.13 million for Q1 2022, up 16.8% year-over-year. The earnings per share rose to $0.87, from $0.74 a year earlier. The bank's return on average assets and equity improved to 1.34% and 11.78%, respectively. However, net interest income fell by $58,000, with a net interest margin of 3.51%, down from 3.73%. Noninterest income increased by 10.3%, while noninterest expenses rose by 6.5% due to higher staffing costs and data processing expenses.