OVBCMEDIUM SIGNALFINANCIAL10-K

OVBC expanded its banking footprint with an additional branch office while delivering strong financial performance across key metrics.

The company demonstrated solid operational execution with meaningful growth in net income and net interest income, supported by substantial loan portfolio expansion of $134 million. The addition of a new branch office signals confidence in growth opportunities and market expansion strategy.

Comparing 2026-03-13 vs 2025-03-14View on EDGAR →
FINANCIAL ANALYSIS

OVBC reported strong financial performance with net income growing notably to $15.6M and net interest income expanding 12.5% to $85.2M, driven by significant loan portfolio growth. The provision for credit losses improved substantially, indicating better asset quality or economic conditions. However, cash and equivalents declined meaningfully by 45% to $45.9M, likely reflecting the deployment of liquidity into higher-yielding loan assets, while stockholders' equity grew a healthy 13.3%.

FINANCIAL STATEMENT CHANGES
Provision for Credit Losses
P&L
+92.4%
-$419K→-$32K

Credit loss provisions surged 92.4% — management flagging significant deterioration in loan quality ahead.

Cash & Equivalents
Balance Sheet
-44.8%
$83.1M→$45.9M

Cash declined 44.8% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Net Income
P&L
+41.8%
$11.0M→$15.6M

Net income grew 41.8% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+38.1%
$13.1M→$18.1M

Operating cash flow surged 38.1% — exceptional cash generation, highest quality earnings signal.

Capital Expenditure
Cash Flow
-27.6%
$1.4M→$1.0M

Capex reduced 27.6% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Stockholders Equity
Balance Sheet
+13.3%
$150.3M→$170.3M

Equity base grew 13.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Interest Income
P&L
+12.5%
$75.8M→$85.2M

Net interest income grew 12.5% — benefiting from rate environment or loan book expansion.

LANGUAGE CHANGES
NEW — 2026-03-13
PRIOR — 2025-03-14
ADDED
2 PART I ITEM 1 - BUSINESS Organizational History and Subsidiaries Ohio Valley Banc Corp.
As of December 31, 2025 and 2024, Ohio Valley s consolidated assets approximated to $1,582,654,000 and $1,503,412,000, while total shareholders equity approximated to $170,257,000 and $150,328,000 for the same periods, respectively.
The Bank presently has eighteen offices located in Ohio and West Virginia and all but two offer automatic teller machines ( ATMs ).
The Bank accounted for substantially all of Ohio Valley s consolidated assets at December 31, 2025 and 2024.
4 Financial Information Financial information regarding the Company as of December 31, 2025 and 2024 and results of operations for the last two fiscal years are contained in the Company s consolidated financial statements for the fiscal year ended December 31, 2025.
Lending Activities The Company s loan portfolio increased $134,193,000 to finish at $1,196,018,000 as of December 31, 2025.
During 2025, commercial loans increased $105,709,000, or 19.9%, while residential real estate loans increased $44,386,000, or 11.9%, partially offset by a $15,902,000, or 10.1%, decrease in consumer loans, as compared to 2024.
Consolidated interest and fee revenue from loans accounted for 77.84% and 73.02% of total consolidated revenues in 2025 and 2024, respectively.
Revenues from interest and dividends on securities accounted for 10.03% and 7.17% of total consolidated revenues in 2025 and 2024, respectively.
Most recently, the Bank had an agreement with a third-party to process electronic refund checks and electronic refund deposits, which agreement ended after the 2025 tax season.
REMOVED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
As of December 31, 2024 and 2023, Ohio Valley s consolidated assets approximated to $1,503,412,000 and $1,352,135,000, while total shareholders equity approximated to $150,328,000 and $144,007,000 for the same periods, respectively.
In July 2014, Ohio Valley formed a nonbank subsidiary, OVBC Captive, Inc.
(the Captive ), which was engaged in the business of providing commercial property and various liability insurance to the Company and related entities.
However, in December 2023, Ohio Valley discontinued the Captive s operations as a result of proposed IRS regulations that adversely affect the taxation of small captives.
The Bank presently has seventeen offices located in Ohio and West Virginia and all but one offer automatic teller machines ( ATMs ).
The Bank accounted for substantially all of Ohio Valley s consolidated assets at December 31, 2024 and 2023.
In April 2021, the Bank formed a subsidiary, Race Day Mortgage, Inc.
( Race Day ), which served as an online-only consumer direct mortgage banking company.
Race Day was created to help fill the demand for home ownership in areas beyond the Bank s primary markets.
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