secwatch.observer — SEC 8-K summary
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Issuer:     OHIO VALLEY BANC CORP (OVBC)
CIK:        0000894671
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0000894671-22-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

Ohio Valley Banc reports Q2 net income down 30% to $1.999M; EPS $0.42 vs $0.60
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- Net income of $1.999M for Q2 2022 vs $2.861M same quarter last year; EPS $0.42 vs $0.60.
- Net interest income rose $338K to $10.553M; net interest margin improved to 3.64% on linked quarter basis.
- Provision for loan losses was $813K, up from $27K, due to $868K in net charge-offs (including $613K single loan).
- Noninterest expense increased $726K to $10.023M, driven by staffing at Race Day Mortgage and software costs.
- New Ohio Valley Bank branch to open in Ironton, Ohio, expanding into Lawrence County.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894671/000089467122000019/0000894671-22-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894671/000089467122000019/sec8kearngsrels063022.htm
  HTML page:      https://secwatch.observer/filing/0000894671-22-000019

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