Ohio Valley Banc Stock Price, News & Analysis

Ohio Valley Banc Corp. (Nasdaq: OVBC) declared a cash dividend of $0.21 per common share, payable on Feb. 10, 2022, for shareholders on record as of Jan. 28, 2022. This reflects the company's commitment to consistent, quarterly dividends. Despite pandemic challenges, OVBC opened a new branch in Mason County and launched Race Day Mortgage, enhancing service capabilities. The CEO emphasizes community focus and shareholder support as integral to the bank's ongoing growth strategy.

Ohio Valley Banc Corp. (OVBC) reported a robust financial performance for Q3 2021, with net income of $3,036,000, a 32.3% increase year-over-year. Earnings per share rose to $0.63 from $0.48. For the first nine months, net income surged 69.6% to $9,428,000, with EPS of $1.97 vs. $1.16. Notable growth in net interest income and commercial loan demand, especially in Pike and Athens counties, was observed. However, net interest margin declined to 3.62%, down from 4.04%. Total assets increased to $1.245 billion, with deposits growing by $58 million, driven partly by stimulus payments.

On October 19, 2021, Ohio Valley Banc Corp. (OVBC) declared a cash dividend of $0.21 per common share, payable on November 10, 2021. Shareholders on record as of October 29, 2021 will benefit from this consistent quarterly dividend. In addition, the company opened a new branch in August and launched Race Day Mortgage, an online-only subsidiary for consumer direct mortgages. These developments underscore OVBC's commitment to growth and community banking in the Mason County area.

Ohio Valley Bank announces the launch of Race Day Mortgage, an online consumer direct mortgage subsidiary. This new service aims to streamline the mortgage process, offering quick loan approvals and personalized support through digital channels. Currently operational in states like Ohio, Tennessee, and Florida, Race Day Mortgage plans to expand nationwide. Led by Bryan Stepp and experienced lending professional Lisa Burke, the company focuses on both new mortgages and refinancing options, enhancing Ohio Valley Bank's service portfolio.

On August 18, 2021, Thomas E. Wiseman, Chairman and CEO, announced Ed Roberts' election to the Boards of Directors of Ohio Valley Banc Corp. (OVBC) and Ohio Valley Bank. His term starts on September 1, filling the position vacated by Harold Howe. Roberts, a co-owner of OakBridge Financial Partners, has over 21 years of financial advisory experience. He is ranked in the top 9% of advisors at LPL Financial. OVB, which operates 16 offices in Ohio and West Virginia, recently opened its Point Pleasant North Office.

Ohio Valley Banc Corp. (OVBC) reported a consolidated net income of $2,861,000 for Q2 2021, a 26.4% increase year-over-year. Earnings per share rose to $0.60 from $0.47. For the first half of 2021, net income was $6,392,000, a 95.8% increase compared to the same timeframe in 2020. Return on average assets was 1.06%, with a return on average equity of 9.39%. Total assets reached $1.237 billion, bolstered by a $61 million increase in securities. However, the net interest margin decreased to 3.65% from 4.13% due to lower interest rates.

Ohio Valley Banc Corp. (OVBC) has authorized a $5 million stock buyback program, allowing for the periodic repurchase of its outstanding common shares. These repurchases will depend on market conditions and may occur in the open market or through private transactions. The shares repurchased will be held as treasury stock for general corporate purposes. This program is set to expire on August 31, 2022, and can be amended or terminated by the Board at any time.

Ohio Valley Banc Corp. (Nasdaq: OVBC) declared a cash dividend of $0.21 per common share on July 20, 2021, payable on August 10, 2021, to shareholders of record as of July 30, 2021. This represents a consistent quarterly dividend, showcasing the company's commitment to returning value to its shareholders. The announcement coincides with the launch of a new website and the upcoming opening of a drive-thru location in Point Pleasant, W.Va. Ohio Valley Banc operates several subsidiaries, including Ohio Valley Bank and Loan Central, further solidifying its footprint in the region.

Ohio Valley Banc Corp. has elected K. Ryan Smith to its Board of Directors effective July 1, 2021. Chairman Thomas E. Wiseman commended Smith's leadership skills, stating his extensive experience will enhance the company's strategic direction. Smith, president of the University of Rio Grande, is notable for his 23 years in the business and investment sectors, along with a background in Ohio's legislature, where he sponsored state budgets totaling $70 billion. He fills the position of Jeff Smith, who retired in May 2020.