Ohio Valley Banc Corp

NASDAQ:OVBCUnited States

Oct 28, 2024

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• Ohio Valley Banc Corp. Reports 3rd Quarter Earnings, from 3:52PM ET on Monday Oct 28, 2024 by PR Newswire

  3:52PM ET on Monday Oct 28, 2024 by PR Newswire
  Companies Mentioned: OVBC

  Ohio Valley Banc Corp. [Nasdaq: OVBC] (the "Company") reported consolidated net income for the quarter ended September 30, 2024, of $2,719,000, an increase of $468,000, or 20.8%, from the same period the prior year. Earnings per share for the third quarter of 2024 were $.58 compared to $.47 for the prior year third quarter. For the nine months ended September 30, 2024, net income totaled $8,484,000, a decrease of $924,000 from the same period the prior year. Earnings per share were $1.79 for the first nine months of 2024 versus $1.97 for the first nine months of 2023. Return on average assets and return on average equity were .81% and 7.80%, respectively, for the first nine months of 2024, compared to 1.00% and 9.21%, respectively, for the same period in the prior year.

• Ohio Valley Banc Corp. Reports 3rd Quarter Earnings, from 3:52PM ET on Monday Oct 28, 2024 by Dow Jones

  3:52PM ET on Monday Oct 28, 2024 by Dow Jones
  Companies Mentioned: OVBC
  equivalents 82,204 128,126 Securities available for sale 271,187 162,258 Securities held to maturity, net of allowance for credit losses of $2 in 2024 and 2023 7,912 7,986 Restricted investments in bank stocks 5,007 5,037 Total loans 1,048,912 971,900 Less: Allowance for credit losses (9,919) (8,767) ---------------- --------------- Net loans 1,038,993 963,133 Premises and equipment, net 21,443 21,450 Premises and equipment held for sale, net 512 573 Accrued interest receivable 4,841 3,606 Goodwill 7,319 7,319 Other intangible assets, net 0 8 Bank owned life insurance and annuity assets 41,864 40,593 Operating lease right-of-use asset, net 1,068 1,205 Deferred tax assets 5,108 6,306 Other assets 6,565 4,535 ---------------- --------------- Total assets $ 1,494,023 $ 1,352,135 ================ =============== LIABILITIES Noninterest-bearing deposits $ 315,961 $ 322,222 Interest-bearing deposits 945,459 804,914 ---------------- --------------- Total deposits 1,261,420 1,127,136 Other borrowed funds 40,888 44,593 Subordinated debentures 8,500 8,500 Operating lease liability 1,068 1,205 Allowance for credit losses on off-balance sheet commitments 566 692 Other liabilities 29,428 26,002 ---------------- --------------- Total liabilities 1,341,870 1,208,128 SHAREHOLDERS' EQUITY Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 2024 - 5,490,995 shares issued; 2023 - 5,470,453 shares issued) 5,491 5,470 Additional paid-in capital 52,321 51,842 Retained earnings 120,214 114,871 Accumulated other comprehensive income (loss) (7,194) (11,428) Treasury stock, at cost (2024 - 779,994 shares; 2023 - 697,321 shares) (18,679) (16,748) ---------------- --------------- Total shareholders' equity 152,153 144,007 ---------------- --------------- Total liabilities and shareholders' equity $ 1,494,023 $ 1,352,135 ================ ===============
  

• *DJ Ohio Valley Banc 3Q EPS 58c >OVBC, from 3:52PM ET on Monday Oct 28, 2024 by Dow Jones

  3:52PM ET on Monday Oct 28, 2024 by Dow Jones
  Companies Mentioned: OVBC