Ohio Valley Banc Q3 net income drops 39% to $2.25M; EPS $0.47 vs $0.77

OHIO VALLEY BANC CORP

Net income $2.251M ($0.47 EPS) vs $3.690M ($0.77 EPS) in Q3 2022, down 39%.
Net interest margin narrowed to 3.85% from 4.03%; net interest income decreased $469K.
Provision for credit losses $888K vs negative $378K prior year; ACL ratio 0.85% vs 0.56%.
Nonperforming loans improved to 0.28% of total loans from 0.46% a year earlier.
Total assets $1.314B, up 8.5% from Dec 2022; loan growth $76M funded partly by wholesale deposits.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OHIO VALLEY BANC CORP reported the quarter ended September 30, 2023 results: net income $2,251,000, EPS $.47.

Period: the quarter ended September 30, 2023
Net income: $2,251,000
EPS: $.47
Result: reported results

Exact text from the filing

Ohio Valley Banc Corp. [Nasdaq: OVBC] (the “Company”) reported consolidated net income for the quarter ended September 30, 2023, of $2,251,000, a decrease of $1,439,000 from the same period the prior year. Earnings per share for the third quarter of 2023 were $.47 compared to $.77 for the prior year third quarter.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OHIO VALLEY BANC CORP reported the nine months ended September 30, 2023 results: net income $9,408,000, EPS $1.97.

Period: the nine months ended September 30, 2023
Net income: $9,408,000
EPS: $1.97
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, net income totaled $9,408,000, a decrease of $406,000 from the same period the prior year. Earnings per share were $1.97 for the first nine months of 2023 versus $2.06 for the first nine months of 2022.

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Source: SEC EDGAR

accession 0000894671-23-000035

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