NASDAQ: OVBC
OHIO VALLEY BANC CORPCIK 0000894671 · SIC 6022 · State Savings Banks
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Q2 net income falls 30.5% to $2.9M on $2.9M in specific reserves for two troubled loans
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OVBC Q2 earnings fall 30% on $4.5M reserves for two troubled commercial loans
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Ohio Valley Banc declares $0.25 quarterly dividend, payable August 10
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(dollars in thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest and dividend income: | ||||
| Loans, including fees | 19,998 | 17,984 | 39,402 | 34,679 |
| Securities | ||||
| Taxable | 2,398 | 2,295 | 4,773 | 4,450 |
| Tax exempt | 26 | 28 | 52 | 56 |
| Dividends | 90 | 93 | 178 | 189 |
| Interest-bearing deposits with banks | 966 | 639 | 1,548 | 1,465 |
| 23,478 | 21,039 | 45,953 | 40,839 | |
| Interest expense: | ||||
| Deposits | 7,533 | 5,988 | 14,564 | 12,121 |
| Other borrowed funds | 426 | 382 | 862 | 775 |
| Subordinated debentures | 121 | 134 | 241 | 268 |
| 8,080 | 6,504 | 15,667 | 13,164 | |
| Net interest income | 15,398 | 14,535 | 30,286 | 27,675 |
| Provision for (recovery of) credit losses | 3,755 | 1,148 | 5,377 | 1,564 |
| Net interest income after provision for credit losses | 11,643 | 13,387 | 24,909 | 26,111 |
| Noninterest income: | ||||
| Service charges on deposit accounts | 774 | 723 | 1,519 | 1,443 |
| Trust fees | 89 | 100 | 181 | 203 |
| Income from bank owned life insurance and annuity assets | 242 | 243 | 620 | 483 |
| Mortgage banking income | 38 | 40 | 75 | 77 |
| Electronic refund check / deposit fees | ---- | 135 | ---- | 675 |
| Debit / credit card interchange income | 1,349 | 1,279 | 2,584 | 2,428 |
| Unrealized gains on equity securities | 377 | ---- | 377 | ---- |
| Tax preparation fees | 42 | 38 | 650 | 634 |
| Other | 275 | 290 | 468 | 551 |
| 3,186 | 2,848 | 6,474 | 6,494 | |
| Noninterest expense: | ||||
| Salaries and employee benefits | 6,553 | 6,194 | 12,900 | 12,206 |
| Occupancy | 541 | 493 | 1,065 | 1,014 |
| Furniture and equipment | 338 | 338 | 656 | 688 |
| Professional fees | 466 | 500 | 939 | 1,000 |
| Marketing expense | 305 | 279 | 585 | 558 |
| FDIC insurance | 241 | 164 | 482 | 347 |
| Data processing | 364 | 969 | 1,275 | 1,894 |
| Software | 661 | 587 | 1,334 | 1,128 |
| Other | 1,776 | 1,525 | 3,310 | 3,032 |
| 11,245 | 11,049 | 22,546 | 21,867 | |
| Income before income taxes | 3,584 | 5,186 | 8,837 | 10,738 |
| Provision for income taxes | 657 | 976 | 1,613 | 2,122 |
| NET INCOME | 2,927 | 4,210 | 7,224 | 8,616 |
| Earnings per share | 0.62 | 0.89 | 1.53 | 1.83 |
Consolidated Balance Sheets
(dollars in thousands, except share and per share data)
| Description | June 30, 2026 (Unaudited) | June 30, December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and noninterest-bearing deposits with banks | 15,519 | 14,845 |
| Interest-bearing deposits with banks | 62,565 | 31,052 |
| Total cash and cash equivalents | 78,084 | 45,897 |
| Debt securities available for sale | 250,236 | 253,906 |
| Debt securities held to maturity, net of allowance for credit losses of $1 in 2026 and 2025 | 5,404 | 5,452 |
| Equity securities | 376 | - |
| Restricted investments in bank stocks | 5,258 | 5,258 |
| Total loans | 1,246,114 | 1,196,018 |
| Less: Allowance for credit losses | (16,610) | (11,519) |
| Net loans | 1,229,504 | 1,184,499 |
| Premises and equipment, net | 22,357 | 20,509 |
| Premises and equipment held for sale, net | 390 | 400 |
| Accrued interest receivable | 5,485 | 5,476 |
| Goodwill | 7,319 | 7,319 |
| Bank owned life insurance and annuity assets | 42,960 | 43,305 |
| Operating lease right-of-use asset, net | 1,408 | 923 |
| Deferred tax assets | 6,082 | 5,621 |
| Other assets | 6,573 | 4,089 |
| Total assets | 1,661,436 | 1,582,654 |
| LIABILITIES | ||
| Noninterest-bearing deposits | 319,288 | 314,131 |
| Interest-bearing deposits | 1,089,140 | 1,015,536 |
| Total deposits | 1,408,428 | 1,329,667 |
| Other borrowed funds | 41,822 | 44,848 |
| Subordinated debentures | 8,500 | 8,500 |
| Operating lease liability | 1,408 | 923 |
| Allowance for credit losses on off-balance sheet commitments | 731 | 871 |
| Other liabilities | 27,161 | 27,588 |
| Total liabilities | 1,488,050 | 1,412,397 |
| CONTINGENT LIABILITIES | - | - |
| SHAREHOLDERS’ EQUITY | ||
| Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 5,490,995 shares issued) | 5,491 | 5,491 |
| Additional paid-in capital | 52,321 | 52,321 |
| Retained earnings | 137,969 | 133,007 |
| Accumulated other comprehensive income (loss) | (3,702) | (1,869) |
| Treasury stock, at cost (779,994 shares) | (18,693) | (18,693) |
| Total shareholders’ equity | 173,386 | 170,257 |
| Total liabilities and shareholders’ equity | 1,661,436 | 1,582,654 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(dollars in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Net cash provided by operating activities: | 9,831 | 4,974 |
| Investing activities: | ||
| Proceeds from maturities and paydowns of debt securities available for sale | 56,644 | 76,041 |
| Purchases of debt securities available for sale | (54,651) | (67,306) |
| Proceeds from calls and maturities of debt securities held to maturity | 45 | 548 |
| Net change in loans | (50,442) | (39,285) |
| Purchases of premises and equipment | (2,658) | (467) |
| Purchases of bank owned life insurance and annuity asset | (170) | - |
| Withdrawals from bank owned life insurance and annuity asset | 115 | 115 |
| Net cash (used in) investing activities | (51,117) | (30,354) |
| Financing activities: | ||
| Change in deposits | 78,761 | 1,584 |
| Cash dividends | (2,262) | (2,121) |
| Repayment of Federal Home Loan Bank borrowings | (2,591) | (2,625) |
| Change in other short-term borrowings | (435) | 62 |
| Net cash provided by (used in) financing activities | 73,473 | (3,100) |
| Change in cash and cash equivalents | 32,187 | (28,480) |
| Cash and cash equivalents at beginning of period | 45,897 | 83,107 |
| Cash and cash equivalents at end of period | 78,084 | 54,627 |
| Supplemental disclosure: | ||
| Cash paid for interest | 15,755 | 12,712 |
| Cash paid for income taxes | 1,835 | 1,424 |
| Operating lease liability arising from obtaining right-of-use asset | 810 | - |
| Proceeds from bank owned life insurance and annuity assets not settled | 1,020 | - |
Amounts as printed on the EDGAR/iXBRL face — (dollars in thousands, except per share data); (dollars in thousands, except share and per share data); (dollars in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗