OHIO VALLEY BANC CORP

Listed Company

OVBCCIK 0000894671NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksOhioFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$15.60M

Total Assets

$1.58B

Equity

$170.26M

Shares Out

4.71M

Op. Cash Flow

$18.09M

Business

OHIO VALLEY BANC CORP is a financial holding company that provides community banking services through its banking and nonbank subsidiaries. It offers deposit accounts, commercial and consumer loans, residential mortgages, trust and online banking, tax-refund advance loans and insurance commission services. Its reportable banking segment comprises The Ohio Valley Bank Company and subsidiaries including Loan Central, Ohio Valley Financial Services and Ohio Valley REO. The Company distributes products through branches, ATMs, online channels and Loan Central tax-prep locations mainly in southeastern Ohio and western West Virginia.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	73	65	55	42	42
Taxable	9	6	4	3	2
Tax exempt	110,000	132,000	162,000	180,000	236,000
Dividends	372,000	384,000	324,000	316,000	231,000
Interest-bearing deposits with banks	2	4	3	1	163,000
Total interest and dividend income	85	76	62	48	45
Deposits	25	25	14	2	3
Other borrowed funds	2	2	1	412,000	564,000
Subordinated debentures	531,000	618,000	597,000	296,000	158,000
Total interest expense	27	27	16	—	—
Net interest income	58	49	46	45	41
Provision for credit losses	3	2	2	−32,000	−419,000
Net interest income after provision for credit losses	55	46	44	45	41
Service charges on deposit accounts	3	3	3	2	2
Trust fees	376,000	404,000	326,000	325,000	285,000
Income from bank owned life insurance and annuity assets	986,000	929,000	860,000	883,000	904,000
Mortgage banking income	182,000	163,000	175,000	697,000	854,000
Electronic refund check / deposit fees	676,000	675,000	675,000	675,000	675,000
Debit / credit card interchange income	5	5	5	5	5
Loss on sale of available for sale securities	−4	0	−23,000	−2	−1
Tax preparation fees	641,000	644,000	669,000	743,000	754,000
Other	2	2	2	1	950,000
Total noninterest income	9	13	13	10	10
Salaries and employee benefits	25	28	23	22	22
Occupancy	2	2	2	2	2
Furniture and equipment	1	1	1	1	1
Professional fees	2	2	2	2	2
Marketing expense	1	820,000	1	1	826,000
FDIC insurance	698,000	648,000	569,000	335,000	326,000
Data processing	4	3	3	3	2
Software	2	2	3	2	2
Other	6	6	6	6	6
Total noninterest expense	44	46	41	39	37
Income before income taxes	19	13	15	16	14
Provision for income taxes	4	2	3	3	2
NET INCOME	16	11	13	13	12
Earnings per share (in dollars per share)	3.31	2.32	2.65	2.8	2.45

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and noninterest-bearing deposits with banks	15	16	14	14	14
Interest-bearing deposits with banks	31	67	114	32	138
Total cash and cash equivalents	46	83	128	46	152
Securities available for sale	254	268	162	184	177
Securities held to maturity, net of allowance for credit losses of $1 in 2025 and 2024	5	7	8	9	—
Restricted investments in bank stocks	5	5	5	6	7
Total loans	1,196	1,062	972	885	831
Less: Allowance for credit losses	−12	−10	−9	−7	−6
Net loans	1,184	1,052	963	880	825
Premises and equipment, net	21	21	21	20	21
Premises and equipment held for sale, net	400,000	507,000	573,000	593,000	438,000
Accrued interest receivable	5	5	4	3	3
Goodwill	7	7	7	7	7
Bank owned life insurance and annuity assets	43	42	41	40	37
Operating lease right-of-use asset, net	923,000	1	1	1	1
Deferred tax assets	6	7	6	6	2
Other assets	4	4	5	5	4
Total assets	1,583	1,503	1,352	1,211	1,250
Noninterest-bearing deposits	314	322	322	354	354
Interest-bearing deposits	1,016	953	805	673	706
Total deposits	1,330	1,275	1,127	1,028	1,060
Other borrowed funds	45	40	45	18	20
Subordinated debentures	9	9	9	9	9
Operating lease liability	923,000	1	1	1	1
Allowance for credit losses on off-balance sheet commitments	871,000	582,000	692,000	0	—
Other liabilities	28	28	26	20	—
Total liabilities	1,412	1,353	1,208	1,076	1,108
Contingent Liabilities	—	—	—	—	—
Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 5,490,995 shares issued)	5	5	5	5	5
Additional paid-in capital	52	52	52	52	51
Retained earnings	133	122	115	109	101
Accumulated other comprehensive income (loss)	−2	−10	−11	−15	708,000
Treasury stock, at cost (779,994 shares)	−19	−19	—	—	—
Total shareholders' equity	170	150	144	133	141
Total liabilities and shareholders' equity	1,583	1,503	1,352	1,211	1,250

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of premises and equipment	2	2	2	1	1
Accretion of building grant	−3,000	−3,000	−4,000	−3,000	0
Net amortization (accretion) of purchase accounting adjustments	−2,000	−8,000	−1,000	34,000	37,000
Net amortization (accretion) of securities	−1	−1	−478,000	100,000	815,000
Proceeds from sale of loans in secondary market	2	590,000	125,000	8	19
Loans disbursed for sale in secondary market	−2	−588,000	−124,000	−7	−18
Amortization of mortgage servicing rights	47,000	52,000	53,000	71,000	103,000
Gain on sale of loans	−229,000	−215,000	−228,000	−768,000	−946,000
Accretion of purchased loan discount	−2	0	7,000	22,000	0
Amortization of intangible assets	0	8,000	—	—	—
Deferred tax (benefit) expense	−841,000	−1	−745,000	288,000	−130,000
Contribution of common stock to ESOP	0	500,000	125,000	575,000	0
Income from bank owned life insurance and annuity assets	−986,000	−929,000	−860,000	−883,000	−904,000
Change in accrued interest receivable	−671,000	−1	−494,000	−417,000	624,000
Change in other liabilities	−561,000	2	6	1	−113,000
Change in other assets	242,000	461,000	1	−1	−1
Net cash provided by operating activities	18	13	21	16	13
Proceeds from sales of securities available for sale	33	0	1	11	48
Proceeds from maturities and paydowns of securities available for sale	133	35	26	28	41
Purchases of securities available for sale	−143	−138	−586,000	−67	−158
Proceeds from calls and maturities of securities held to maturity	2	919,000	1	1	4
Purchases of restricted investments in bank stocks	−251,000	−80,000	−969,000	0	—
Redemptions of restricted investments in bank stocks	0	110,000	2	1	—
Net change in loans	−134	−91	−87	−55	17
Purchases of premises and equipment	−1	−1	−3	−2	−1
Disposals of premises and equipment	200,000	29,000	219,000	420,000	486,000
Purchases of bank owned life insurance and annuity assets	−500,000	−772,000	−250,000	−1	−550,000
Withdrawals from bank owned life insurance and annuity assets	229,000	246,000	—	—	—
Net cash (used in) investing activities	−111	−195	−60	−83	−52
Change in deposits	54	148	99	−32	66
Cash dividends	−4	−4	−5	−5	−4
Purchases of treasury stock	0	−2	−82,000	0	—
Proceeds from Federal Home Loan Bank borrowings	10	2,000	30	2,000	600,000
Repayment of Federal Home Loan Bank borrowings	−5	−5	−3	−2	−8
Change in other short-term borrowings	100,000	107,000	18,000	238,000	−1
Net cash provided by financing activities	55	137	121	−39	53
Change in cash and cash equivalents	−37	−45	82	−106	14
Cash paid for interest	26	28	10	3	4
Cash paid for income taxes	5	4	—	—	—
Operating lease liability arising from obtaining right-of-use asset	90,000	0	187,000	108,000	570,000

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