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January 2023
January 2023
October 2022
October 2022
August 2022
July 2022
July 2022
May 2022
May 2022
April 2022
OHIO VALLEY BANC CORP - Financial Highlights (Unaudited)
|
||||||||||||||||
Three months ended
|
Nine months ended
|
|||||||||||||||
September 30,
|
September 30,
|
|||||||||||||||
2018
|
2017
|
2018
|
2017
|
|||||||||||||
PER SHARE DATA
|
||||||||||||||||
Earnings per share
|
$
|
0.37
|
$
|
0.35
|
$
|
1.71
|
$
|
1.41
|
||||||||
Dividends per share
|
$
|
0.21
|
$
|
0.21
|
$
|
0.63
|
$
|
0.63
|
||||||||
Book value per share
|
$
|
24.05
|
$
|
23.43
|
$
|
24.05
|
$
|
23.43
|
||||||||
Dividend payout ratio (a)
|
56.87
|
%
|
59.49
|
%
|
36.74
|
%
|
44.57
|
%
|
||||||||
Weighted average shares outstanding
|
4,730,624
|
4,688,284
|
4,722,189
|
4,680,846
|
||||||||||||
DIVIDEND REINVESTMENT (in 000's)
|
||||||||||||||||
Dividends reinvested under
|
||||||||||||||||
employee stock ownership plan (b)
|
$
|
-
|
$
|
-
|
$
|
173
|
$
|
188
|
||||||||
Dividends reinvested under
|
||||||||||||||||
dividend reinvestment plan (c)
|
$
|
305
|
$
|
370
|
$
|
1,058
|
$
|
1,167
|
||||||||
PERFORMANCE RATIOS
|
||||||||||||||||
Return on average equity
|
6.10
|
%
|
6.01
|
%
|
9.67
|
%
|
8.24
|
%
|
||||||||
Return on average assets
|
0.67
|
%
|
0.66
|
%
|
1.01
|
%
|
0.87
|
%
|
||||||||
Net interest margin (d)
|
4.49
|
%
|
4.52
|
%
|
4.41
|
%
|
4.50
|
%
|
||||||||
Efficiency ratio (e)
|
76.23
|
%
|
72.33
|
%
|
71.69
|
%
|
72.46
|
%
|
||||||||
Average earning assets (in 000's)
|
$
|
961,607
|
$
|
918,443
|
$
|
1,008,735
|
$
|
944,842
|
||||||||
(a) Total dividends paid as a percentage of net income.
|
||||||||||||||||
(b) Shares purchased from OVBC.
|
||||||||||||||||
(c) Shares may be purchased from OVBC and on secondary market.
|
||||||||||||||||
(d) Fully tax-equivalent net interest income as a percentage of average earning assets.
|
||||||||||||||||
(e) Noninterest expense as a percentage of fully tax-equivalent net interest income plus noninterest income.
|
||||||||||||||||
OHIO VALLEY BANC CORP - Consolidated Statements of Income (Unaudited)
|
||||||||||||||||
Three months ended
|
Nine months ended
|
|||||||||||||||
(in $000's)
|
September 30,
|
September 30,
|
||||||||||||||
2018
|
2017
|
2018
|
2017
|
|||||||||||||
Interest income:
|
||||||||||||||||
Interest and fees on loans
|
$
|
11,118
|
$
|
10,489
|
$
|
33,134
|
$
|
31,410
|
||||||||
Interest and dividends on securities
|
798
|
746
|
2,373
|
2,175
|
||||||||||||
Interest on interest-bearing deposits with banks
|
265
|
82
|
1,321
|
459
|
||||||||||||
Total interest income
|
12,181
|
11,317
|
36,828
|
34,044
|
||||||||||||
Interest expense:
|
||||||||||||||||
Deposits
|
1,081
|
757
|
2,934
|
1,985
|
||||||||||||
Borrowings
|
337
|
292
|
981
|
855
|
||||||||||||
Total interest expense
|
1,418
|
1,049
|
3,915
|
2,840
|
||||||||||||
Net interest income
|
10,763
|
10,268
|
32,913
|
31,204
|
||||||||||||
Provision for loan losses
|
962
|
1,601
|
1,695
|
1,921
|
||||||||||||
Noninterest income:
|
||||||||||||||||
Service charges on deposit accounts
|
534
|
541
|
1,551
|
1,575
|
||||||||||||
Trust fees
|
69
|
64
|
197
|
177
|
||||||||||||
Income from bank owned life insurance and
|
||||||||||||||||
annuity assets
|
173
|
577
|
522
|
981
|
||||||||||||
Mortgage banking income
|
93
|
59
|
225
|
164
|
||||||||||||
Electronic refund check / deposit fees
|
33
|
0
|
1,566
|
1,667
|
||||||||||||
Debit / credit card interchange income
|
943
|
863
|
2,736
|
2,506
|
||||||||||||
Gain (loss) on other real estate owned
|
(82
|
)
|
(23
|
)
|
75
|
(94
|
)
|
|||||||||
Other
|
164
|
201
|
669
|
531
|
||||||||||||
Total noninterest income
|
1,927
|
2,282
|
7,541
|
7,507
|
||||||||||||
Noninterest expense:
|
||||||||||||||||
Salaries and employee benefits
|
5,537
|
5,019
|
16,780
|
15,528
|
||||||||||||
Occupancy
|
469
|
449
|
1,336
|
1,331
|
||||||||||||
Furniture and equipment
|
263
|
269
|
775
|
787
|
||||||||||||
Professional fees
|
514
|
434
|
1,537
|
1,338
|
||||||||||||
Marketing expense
|
263
|
273
|
787
|
785
|
||||||||||||
FDIC insurance
|
110
|
99
|
368
|
366
|
||||||||||||
Data processing
|
759
|
564
|
2,180
|
1,652
|
||||||||||||
Software
|
398
|
365
|
1,160
|
1,102
|
||||||||||||
Foreclosed assets
|
54
|
158
|
164
|
425
|
||||||||||||
Amortization of intangibles
|
33
|
38
|
105
|
120
|
||||||||||||
Other
|
1,361
|
1,554
|
4,051
|
5,039
|
||||||||||||
Total noninterest expense
|
9,761
|
9,222
|
29,243
|
28,473
|
||||||||||||
Income before income taxes
|
1,967
|
1,727
|
9,516
|
8,317
|
||||||||||||
Income taxes
|
221
|
74
|
1,428
|
1,706
|
||||||||||||
NET INCOME
|
$
|
1,746
|
$
|
1,653
|
$
|
8,088
|
$
|
6,611
|
OHIO VALLEY BANC CORP - Consolidated Balance Sheets (Unaudited)
|
||||||||
(in $000's, except share data)
|
September 30,
|
December 31,
|
||||||
2018
|
2017
|
|||||||
ASSETS
|
||||||||
Cash and noninterest-bearing deposits with banks
|
$
|
11,349
|
$
|
12,664
|
||||
Interest-bearing deposits with banks
|
53,770
|
61,909
|
||||||
Total cash and cash equivalents
|
65,119
|
74,573
|
||||||
Certificates of deposit in financial institutions
|
2,310
|
1,820
|
||||||
Securities available for sale
|
104,877
|
101,125
|
||||||
Securities held to maturity (estimated fair value: 2018 - $17,538; 2017 - $18,079)
|
17,219
|
17,581
|
||||||
Restricted investments in bank stocks
|
7,506
|
7,506
|
||||||
Total loans
|
782,377
|
769,319
|
||||||
Less: Allowance for loan losses
|
(8,315
|
)
|
(7,499
|
)
|
||||
Net loans
|
774,062
|
761,820
|
||||||
Premises and equipment, net
|
13,856
|
13,281
|
||||||
Other real estate owned
|
1,332
|
1,574
|
||||||
Accrued interest receivable
|
2,862
|
2,503
|
||||||
Goodwill
|
7,371
|
7,371
|
||||||
Other intangible assets, net
|
410
|
514
|
||||||
Bank owned life insurance and annuity assets
|
29,198
|
28,675
|
||||||
Other assets
|
7,394
|
7,947
|
||||||
Total assets
|
$
|
1,033,516
|
$
|
1,026,290
|
||||
LIABILITIES
|
||||||||
Noninterest-bearing deposits
|
$
|
232,575
|
$
|
253,655
|
||||
Interest-bearing deposits
|
620,320
|
603,069
|
||||||
Total deposits
|
852,895
|
856,724
|
||||||
Other borrowed funds
|
40,514
|
35,949
|
||||||
Subordinated debentures
|
8,500
|
8,500
|
||||||
Accrued liabilities
|
17,768
|
15,756
|
||||||
Total liabilities
|
919,677
|
916,929
|
||||||
SHAREHOLDERS' EQUITY
|
||||||||
Common stock ($1.00 stated value per share, 10,000,000 shares authorized;
|
||||||||
2018 - 5,392,859 shares issued; 2017 - 5,362,005 shares issued)
|
5,393
|
5,362
|
||||||
Additional paid-in capital
|
49,208
|
47,895
|
||||||
Retained earnings
|
77,982
|
72,694
|
||||||
Accumulated other comprehensive loss
|
(3,032
|
)
|
(878
|
)
|
||||
Treasury stock, at cost (659,739 shares)
|
(15,712
|
)
|
(15,712
|
)
|
||||
Total shareholders' equity
|
113,839
|
109,361
|
||||||
Total liabilities and shareholders' equity
|
$
|
1,033,516
|
$
|
1,026,290
|
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Compare this 8-K Corporate News to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Ohio Valley Banc Corp.
Ohio Valley Banc Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
Material Contracts, Statements, Certifications & more
Ohio Valley Banc Corp provided additional information to their SEC Filing as exhibits
Ticker: OVBCEvents:
CIK: 894671
Form Type: 8-K Corporate News
Accession Number: 0000894671-18-000035
Submitted to the SEC: Thu Oct 25 2018 4:08:22 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Thursday, October 25, 2018
Industry: State Commercial Banks