Filing Analysis
Ohio Valley Banc Corp has announced an extension of its existing share repurchase program. The program, which was set to expire on August 31, 2026, has been extended through August 31, 2027.
📋 Key Facts
- The share repurchase program authorizes the repurchase of up to $5,000,000 in common stock.
- As of August 18, 2026, the company had already repurchased approximately $2,967,000 of the authorized amount.
- The extension adds one additional year to the program's expiration date (from Aug 31, 2026, to Aug 31, 2027).
- No other changes were made to the terms of the buyback program.
Ohio Valley Banc Corp. announced a quarterly cash dividend of $0.25 per share. The dividend is payable on August 10, 2026, to shareholders of record as of July 24, 2026.
📋 Key Facts
- Dividend Amount: $0.25 per share
- Record Date: July 24, 2026
- Payment Date: August 10, 2026
- Declaration Date: July 14, 2026
Ohio Valley Banc Corp announced executive leadership changes following its 2026 annual meeting, including the appointment of K. Ryan Smith as Chairman and Ryan J. Jones as President. Larry E. Miller, II remains CEO, while the company also updated its Code of Regulations to clarify the Chairman's role as non-automatic officer status.
📋 Key Facts
- K. Ryan Smith appointed Chairman of the Board effective May 13, 2026, succeeding the retired Thomas E. Wiseman.
- Ryan J. Jones (age 48) promoted to President of OVBC and the Bank; he previously served as Chief Operating and Risk Officer.
- Larry E. Miller, II continues as Chief Executive Officer but relinquished the role of President.
- Ryan J. Jones was also appointed as a director to fill the vacancy left by David W. Thomas.
- The Board amended the Code of Regulations (Sections 3.01 and 3.04) to clarify that the Chairman serves at the pleasure of the Board and is not automatically an officer.
- Shareholders ratified Plante & Moran, PLLC as the independent accounting firm for fiscal year 2026.
Ohio Valley Banc Corp reported Q1 2026 net income of $4.3 million, a 2.5% decrease from the prior year. While the company saw strong net interest margin expansion and loan growth, these gains were offset by a significant spike in credit loss provisions and nonperforming loans.
🚩 Red Flags
- Nonperforming loans ratio more than tripled year-over-year, rising from 0.48% to 1.64%.
- Specific allocation of $2,031,000 required for two collateral-dependent loans placed on nonaccrual status.
- Expiration of a tax processing agreement resulted in a $540,000 decrease in electronic refund check and deposit fees.
- FDIC insurance expense increased due to a higher assessment rate linked to the rise in nonperforming loans.
📋 Key Facts
- Net income for Q1 2026 was $4,297,000 ($0.91 per share), compared to $4,406,000 ($0.94 per share) in Q1 2025.
- Provision for credit loss expense surged to $1,622,000, up from $416,000 in the prior year period.
- The ratio of nonperforming loans to total loans increased to 1.64% at March 31, 2026, from 0.48% at March 31, 2025.
- Net interest margin (NIM) expanded to 4.01% from 3.85% year-over-year.
- Total assets grew to $1.678 billion, an increase of $95 million from year-end 2025.
Ohio Valley Banc Corp. announced a quarterly cash dividend of $0.25 per share. The dividend is payable on May 10, 2026, to shareholders of record as of April 24, 2026.
📋 Key Facts
- Quarterly cash dividend of $0.25 per share declared on April 14, 2026.
- Dividend payment date is set for May 10, 2026.
- Record date for shareholders is April 24, 2026.
Ohio Valley Banc Corp announced the upcoming retirement of director David W. Thomas due to mandatory age limits and the transition of Thomas E. Wiseman from Chairman to Director. Both changes are scheduled to take effect at the 2026 Annual Meeting of Shareholders in May.
📋 Key Facts
- Director David W. Thomas notified the company of his intent to retire on February 24, 2026.
- Thomas' retirement is pursuant to the company's mandatory retirement policy for directors reaching age 70.
- Chairman Thomas E. Wiseman will step down as Chairman of the Board but will remain a director of the company and the bank.
- Both transitions are effective as of the May 2026 Annual Meeting of Shareholders.
- The company stated there were no disagreements with either individual.
Ohio Valley Banc Corp reported record annual net income of $15.6 million for 2025, a 41.8% increase over the prior year. The company demonstrated strong growth in net interest margin and total assets, driven by strategic shifts toward higher-yielding loan segments and securities reinvestment.
🚩 Red Flags
- Nonperforming loans ratio increased from 0.46% (2024) to 1.40% (2025), primarily due to two commercial real estate loans on nonaccrual status.
- Significant realized losses on securities sales totaling $3.7 million for the year 2025.
📋 Key Facts
- Full-year 2025 net income reached $15,601,000, up 41.8% from the previous year.
- Q4 2025 EPS was $0.84 compared to $0.53 in Q4 2024.
- Net interest margin for FY 2025 improved to 4.07% from 3.71% in 2024.
- Total assets grew to $1.583 billion as of December 31, 2025.
- Loan balances increased by $134 million (12.6%) year-over-year, focused on commercial and residential real estate.
- The company executed a strategy of selling low-yield securities at a loss to reinvest in higher-yielding assets.
Ohio Valley Banc Corp announced a quarterly cash dividend of $0.23 per share for its common stock.
📋 Key Facts
- Dividend amount: $0.23 per share.
- Record date: January 23, 2026.
- Payment date: February 10, 2026.
Ohio Valley Banc Corp reported strong third-quarter 2025 financial results, characterized by a significant increase in net income and earnings per share compared to the prior year. The company's growth was driven by increased net interest margin and strategic shifts toward higher-yielding assets and more profitable loan segments.
🚩 Red Flags
- Noninterest income decreased by over $1 million due to losses on the sale of securities ($1.219M in Q3).
- Provision for credit losses increased to $2,676,000 for the first nine months (up from $1,842,000 YoY).
📋 Key Facts
- Q3 2025 Net Income: $3,030,000 (up 11.4% YoY).
- Nine months ended Sept 30, 2025 Net Income: $11,646,000 (up 37.3% YoY).
- Q3 2025 EPS: $0.64 vs. $0.58 in Q3 2024.
- Net Interest Margin for nine months ended Sept 30, 2025 was 4.03%, up from 3.71% YoY.
- Total assets reached $1.57 billion as of September 30, 2025.
- The company realized a $950,000 net tax loss on the sale of securities previously held at an unrealized gain.
Ohio Valley Banc Corp announced a quarterly cash dividend of $0.23 per share. The dividend is scheduled to be paid on November 10, 2025, to shareholders of record as of October 31, 2025.
📋 Key Facts
- Dividend amount: $0.23 per share
- Record date: October 31, 2025
- Payment date: November 10, 2025
- Dividend type: Quarterly cash dividend
Ohio Valley Banc Corp has extended its existing share repurchase program expiration date from August 31, 2025, to August 31, 2026. The program authorizes up to $5,000,000 in total repurchases, with approximately $2,967,000 already utilized.
📋 Key Facts
- Expiration date extended from August 31, 2025, to August 31, 2026.
- Total authorized repurchase amount: $5,000,000.
- Amount repurchased as of August 20, 2025: approximately $2,967,000.
- The Board retains the right to terminate or amend the program at any time.
Ohio Valley Banc Corp reported strong second quarter 2025 financial results, characterized by a significant increase in net income and earnings per share compared to the prior year. The company's growth was driven by increased net interest margin and participation in the Ohio Homebuyer Plus program.
🚩 Red Flags
- Provision for credit loss expense increased by $967,000 in Q2 2025 compared to the prior year.
- Increase in modeled loss rates due to projected regressions in GDP and unemployment.
📋 Key Facts
- Net income for Q2 2025 was $4,210,000, up 41.7% from $2,972,000 in Q2 2024.
- Earnings per share (EPS) for Q2 2025 were $0.89 vs. $0.63 in Q2 2024.
- Net interest income for the first six months of 2025 increased by $4,522,000 year-over-year.
- Net interest margin (NIM) improved to 4.17% in Q2 2025 from 3.74% in Q2 2024.
- Total assets stood at $1.510 billion as of June 30, 2025.
- The company saw significant growth in average securities due to the Ohio Homebuyer Plus program, with Treasurer deposits totaling $77 million.
Ohio Valley Banc Corp declared a quarterly cash dividend of $0.23 per share. The dividend is payable on August 10, 2025, to shareholders of record as of July 25, 2025.
📋 Key Facts
- Dividend amount: $0.23 per share
- Record date: July 25, 2025
- Payment date: August 10, 2025
- Declaration date: July 15, 2025
Ohio Valley Banc Corp. announced its inclusion in the Russell 3000 Index via a press release issued on July 1, 2025.
📋 Key Facts
- The company has been included in the Russell 3000 Index.
- Announcement date: July 1, 2025.
- Filing includes Exhibit 99.1 (Press Release).
Ohio Valley Banc Corp held its 2025 Annual Meeting of Shareholders on May 14, 2025. The meeting resulted in the election of three directors and the ratification of the company's independent auditor.
📋 Key Facts
- Annual Meeting held on May 14, 2025.
- Shareholder representation at the meeting was 80.94% ($3,812,966 shares).
- Three individuals elected to the Board of Directors: Larry E. Miller II, Edward J. Robbins, and K. Ryan Smith (terms expiring in 2028).
- Shareholders approved 'Say-on-Pay' advisory compensation for named executive officers.
- Plante & Moran PLLC was ratified as the independent registered public accounting firm for fiscal year ending December 31, 2025.
Ohio Valley Banc Corp reported strong first-quarter 2025 financial results, characterized by a significant increase in net income and earnings per share. The growth was driven by improved net interest margins and strategic shifts toward higher-yielding assets.
🚩 Red Flags
- Decrease in total loans ($19 million decrease since Dec 31, 2024) due to a $31 million reduction in a warehouse line of credit for another mortgage lender.
- Nonperforming loans ratio increased slightly to 0.48% from 0.46% at year-end 2024.
📋 Key Facts
- Net income for Q1 2025 was $4.406 million, up 57.8% from $2.793 million in Q1 2024.
- Earnings per share (EPS) rose to $0.94, compared to $0.58 in the prior year period.
- Net interest margin increased to 3.85%, up from 3.61% in Q1 2024.
- Return on average equity improved significantly to 11.82% from 7.77%.
- Average earning assets grew by $136 million, led by a $96 million increase in securities and $68 million in loans.
- Total deposits increased to $1.284 billion at March 31, 2025.
Ohio Valley Banc Corp announced a quarterly cash dividend of $0.23 per share, representing a 4.55% increase from the previous quarter's dividend.
📋 Key Facts
- Dividend amount: $0.23 per share on common shares.
- Dividend increase: $0.01 (4.55%) compared to the previous quarter ($0.22).
- Record date: April 25, 2025.
- Payment date: May 10, 2025.
Ohio Valley Banc Corp reported its Q4 and full-year 2024 financial results, showing a decrease in net income due to one-time strategic expenses. The company is undergoing structural changes including an early retirement program and a shift in deposit strategy via the 'Sweet Home Ohio' program.
🚩 Red Flags
- Decrease in Net Interest Margin (NIM) due to rising cost of funding/deposits.
- Nonperforming loans ratio increased from 0.26% in 2023 to 0.46% in 2024.
- Provision for credit losses increased by $379,000 YoY for the full year.
📋 Key Facts
- Q4 2024 Net Income: $2,515,000 (down from $3,223,000 in Q4 2023).
- Full-year 2024 Net Income: $10,999,000 (a 12.9% decrease from 2023).
- One-time expenses included a $3.3 million voluntary early retirement program and $496,000 in account bonuses for 'Sweet Home Ohio' depositors.
- Total assets reached $1.503 billion as of Dec 31, 2024, an increase of $151 million YoY.
- Net interest income increased by $2.777 million for the full year due to a $149 million increase in average earning assets.
- The company exited the indirect lending business for autos and RVs effective Oct 11, 2024.
Ohio Valley Banc Corp declared a quarterly cash dividend of $0.22 per share on its common stock.
📋 Key Facts
- Dividend amount: $0.22 per share.
- Record date: January 24, 2025.
- Payment date: February 10, 2025.
Thomas E. Wiseman has announced his intention to retire from his role as an executive officer effective January 1, 2025. He will transition to a non-executive Chairman of the Board position with specific committee involvement and compensation.
📋 Key Facts
- Effective Date: January 1, 2025
- Retiring Officer: Thomas E. Wiseman (Executive Officer)
- New Role: Non-executive Chairman of the Board
- Committee Roles: Non-voting member of Audit and Enterprise Risk Committees; voting member of Executive Committee
- Compensation: $259,284 annual cash compensation plus employee director compensation
Ohio Valley Banc Corp. reported Q3 2024 results showing a quarterly net income increase of 20.8% to $2.7 million, driven by strong loan growth and new deposit programs. However, year-to-date net income has declined compared to the prior year, and the company is facing rising noninterest expenses due to a voluntary early retirement program.
🚩 Red Flags
- Year-to-date net income is down by $924,000 compared to the same period last year.
- Nonperforming loans ratio increased to 0.44% (from 0.26% at Dec 31, 2023).
- Net interest margin decreased due to rising cost of funding/deposits.
- Significant upcoming one-time expense: $3.04M in severance for early retirement program expected in Q4 2024.
📋 Key Facts
- Q3 2024 Net Income: $2,719,000 (up 20.8% YoY).
- Nine months ended Sept 30, 2024 Net Income: $8,484,000 (down from $9,408,000 in prior year period).
- EPS for Q3 2024 was $0.58 vs $0.47 in Q3 2023.
- Net interest income increased by $1.2 million in Q3 due to a $159 million increase in average earning assets.
- The company is implementing a voluntary early retirement program, with an anticipated additional severance expense of $3,043,000 in Q4 2024.
- Total assets reached $1.494 billion as of Sept 30, 2024.
Ohio Valley Banc Corp announced a quarterly cash dividend of $0.22 per share. The dividend is payable on November 10, 2024, to shareholders of record as of October 25, 2024.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: October 25, 2024
- Payment date: November 10, 2024
- Declaration date: October 15, 2024
Ohio Valley Banc Corp has announced the extension of its existing share repurchase program through August 31, 2025. The program authorizes up to $5,000,000 in total repurchases, with approximately $2,967,000 already utilized.
📋 Key Facts
- The Board of Directors extended the expiration date of the share repurchase program from August 31, 2024, to August 31, 2025.
- Total authorized amount for the repurchase program is $5,000,000.
- As of August 21, 2024, approximately $2,967,000 has been repurchased.
- No changes were made to the terms or scope of the existing buyback program.
Ohio Valley Banc Corp reported second quarter 2024 earnings characterized by a decrease in net income and earnings per share due to interest rate headwinds and rising funding costs. While loan growth remains positive, the company is experiencing compressed net interest margins and increased provision for credit losses.
🚩 Red Flags
- Compression in Net Interest Margin (NIM) due to rising deposit costs and competition.
- Increase in nonperforming loans (from 0.26% to 0.50%) attributed to a single commercial real estate loan relationship.
- Decrease in Return on Average Equity (ROE) from 10.63% to 8.01% year-over-year for the first half of 2024.
📋 Key Facts
- Net income for Q2 2024 was $2.97 million, a decrease from $3.25 million in Q2 2023.
- Earnings per share (EPS) for Q2 2024 were $0.63, compared to $0.68 in the prior year period.
- Net interest margin decreased by 44 basis points for the first six months of 2024 due to rising cost of funding sources.
- The company reported a quarterly loan growth of $50 million, primarily in residential and commercial real estate.
- Nonperforming loans increased to 0.50% of total loans as of June 30, 2024, up from 0.26% at year-end 2023.
- The provision for credit loss expense for the first half of 2024 was $932,000, an increase from $513,000 in H1 2023.
Ohio Valley Banc Corp declared a quarterly cash dividend of $0.22 per share on its common stock.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: July 26, 2024
- Payment date: August 10, 2024
Ohio Valley Banc Corp held its 2024 Annual Meeting of Shareholders on May 15, 2024. The filing reports the results of shareholder votes regarding director elections, executive compensation (Say-on-Pay), and the ratification of the independent auditor.
📋 Key Facts
- Annual Meeting held on May 15, 2024.
- 80.22% of outstanding common shares entitled to vote were represented by proxy or in person ($3,843,481$ shares).
- Four individuals elected to the Board of Directors: Anna P. Barnitz, Brent R. Eastman, Edward B. Roberts, and Thomas E. Wiseman.
- Shareholders approved non-binding executive compensation (Say-on-Pay) with 3,048,706 votes in favor.
- Plante & Moran PLLC was ratified as the independent registered public accounting firm for fiscal year ending Dec 31, 2024.
Ohio Valley Banc Corp reported Q1 2024 earnings characterized by a 28.5% decrease in net income compared to the prior year, primarily driven by a compression in net interest margin due to rising funding costs.
🚩 Red Flags
- Significant decline in net interest margin (from 4.21% to 3.61%) reflecting pressure from rising deposit costs.
- Decrease in Return on Average Assets (ROAA) from 1.28% to 0.83%.
- Increase in provision for credit losses compared to the previous year.
📋 Key Facts
- Net income for Q1 2024 was $2.793 million, down from $3.908 million in Q1 2023 (a 28.5% decrease).
- Earnings per share (EPS) fell to $0.58 from $0.82 in the prior year period.
- Net interest margin decreased to 3.61% from 4.21% due to increased cost of funding sources.
- Total assets grew to $1.373 billion, up from $1.352 billion at year-end 2023.
- Provision for credit losses was $751,000, an increase from $489,000 in Q1 2023.
- Noninterest income decreased by $71,000, largely due to the closure of Race Day Mortgage at the end of 2023.
Ohio Valley Banc Corp announced a quarterly cash dividend of $0.22 per share. The dividend is payable on May 10, 2024, to shareholders of record as of April 26, 2024.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: April 26, 2024
- Payment date: May 10, 2024
- Declaration date: April 16, 2024
Ohio Valley Banc Corp announced the election of Seth I. Michael to its Board of Directors and the Bank's Board of Directors, effective April 1, 2024. The filing also discloses routine banking transactions with Mr. Michael and his related parties.
🚩 Red Flags
- Related-party banking transactions (though noted as being on normal terms and not nonaccrual/restructured).
📋 Key Facts
- Seth I. Michael elected to the Company's Board of Directors effective April 1, 2024.
- Mr. Michael will serve in a director class expiring at the 2026 annual meeting.
- Mr. Michael appointed to The Ohio Valley Bank Company (subsidiary) Board and Trust Committee effective April 1, 2024.
- Director compensation will be consistent with other non-employee directors as disclosed in the 2024 10-K.
- The Bank engages in ordinary course banking transactions with Mr. Michael and his family/associated entities.
Ohio Valley Banc Corp has announced the dismissal of its current independent auditor, Crowe LLP, following a competitive bidding process. The company has engaged Plante & Moran, PLLC as its new independent registered public accounting firm for the fiscal year ending December 31, 2024.
🚩 Red Flags
- None identified; the filing explicitly states there were no disagreements with the outgoing auditor and no qualified/modified opinions in previous years.
📋 Key Facts
- The Audit Committee conducted a competitive process to select an auditor for the year ending Dec 31, 2024.
- Plante & Moran, PLLC has been selected as the new independent registered public accounting firm.
- Crowe LLP was dismissed effective upon completion of the audit for the fiscal year ended December 31, 2023.
- The company confirmed there were no disagreements with Crowe regarding accounting principles, practices, or auditing scope during their tenure.
- No reportable events occurred under Regulation S-K during the engagement period.
Ohio Valley Banc Corp reported its financial results for the fourth quarter and full year ended December 31, 2023. The company saw a slight decrease in net income compared to the previous year due to compressed net interest margins and increased funding costs.
🚩 Red Flags
- Decreasing net interest margin (NIM) due to rising deposit costs and higher utilization of wholesale funding.
- Increased provision for credit losses ($2.09M in 2023 vs a negative provision in 2022) driven by higher expected loss rates and national trends in commercial real estate/construction loans.
📋 Key Facts
- Net income for Q4 2023 was $3.223 million, down from the prior year's period.
- Full-year 2023 net income totaled $12.631 million, a 5.3% decrease from 2022 ($13.338 million).
- Earnings per share (EPS) for the full year was $2.65 vs $2.80 in 2022.
- Total assets grew 11.7% to $1.352 billion as of December 31, 2023.
- Net interest margin (NIM) for Q4 2023 was 3.71%, down from 4.38% in Q4 2022.
- The company adopted the CECL accounting model on January 1, 2023, which included a $2.162 million increase to the allowance for credit losses.
Ohio Valley Banc Corp declared a quarterly cash dividend of $0.22 per share for its common stock.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: January 26, 2024
- Payment date: February 10, 2024