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. reports recurring developments tied to its role as a financial holding company for The Ohio Valley Bank Company and Loan Central, Inc. News commonly covers consolidated earnings, net interest income, net interest margin, loan growth, asset quality, and the performance of commercial, real estate, consumer, and community banking activities in Ohio and West Virginia.
Company updates also include common-share cash dividends, share repurchase authorizations, and franchise matters involving bank offices and consumer finance offices. OVBC news often connects financial results to deposit funding costs, earning-asset yields, securities portfolio activity, and lending trends in the company's regional markets.
On October 20, 2020, Ohio Valley Banc Corp. (OVBC) declared a cash dividend of $0.21 per common share, payable on November 10, 2020. The record date for shareholders is October 30, 2020. OVBC has maintained this consistent dividend for over a decade, demonstrating resilience during the pandemic. CEO Tom Wiseman emphasized the importance of community support, encouraging shareholders to invest locally. Additionally, OVBC will continue its loan payment deferral program for customers affected by the pandemic, allowing for up to 6 months of deferred payments.
Ohio Valley Banc Corp. (Nasdaq: OVBC) reported a net income of $2,263,000 for Q2 2020, down from $3,079,000 in Q2 2019. Earnings per share also fell to $0.47 from $0.65. For the first half of 2020, net income decreased to $3,265,000 from $4,272,000, with EPS declining to $0.68 from $0.90. The net interest income dropped by $858,000 in Q2, primarily due to lower interest rates. Noninterest income rose significantly, aided by a $2,000,000 settlement payment. Total assets reached $1.103 billion, an increase of $90 million since December 2019.
Ohio Valley Banc Corp. (OVBC) declared a cash dividend of $0.21 per common share, payable on August 10, 2020, for shareholders of record as of July 31, 2020. This consistent dividend, maintained for nearly 11 years, demonstrates OVBC's commitment to its shareholders and community, even during challenging times. The company operates Ohio Valley Bank and Loan Central, with multiple offices in Ohio and West Virginia. OVBC remains dedicated to supporting regional development while providing value to its investors.