Ohio Valley Banc Q4 net income $3.22M ($0.68 EPS); FY EPS $2.65 vs $2.80

OHIO VALLEY BANC CORP

Net income Q4 2023 $3.223M ($0.68 EPS) vs $3.524M ($0.74) prior year; full year $12.631M ($2.65) vs $13.338M ($2.80).
Net interest margin fell to 3.71% Q4 from 4.38% YoY; FY margin 3.94% vs 3.89% due to higher deposit costs.
Loans grew $87M to $971.9M; deposits increased $99M, supplemented by wholesale funding.
Noninterest income Q4 rose $2.39M on lower securities losses and tax refund processor settlement; expenses up $1.42M on salaries.
Allowance for credit losses increased to 0.90% of loans (from 0.60%) due to CECL adoption; nonperforming loans improved to 0.26%.

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 December 31, 2023 results: net income $3,223,000, EPS $.68.

Period: the quarter ended December 31, 2023
Net income: $3,223,000
EPS: $.68
Result: reported results

Exact text from the filing

Ohio Valley Banc Corp. [Nasdaq: OVBC] (the “Company”) reported consolidated net income for the quarter ended December 31, 2023, of $3,223,000

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OHIO VALLEY BANC CORP reported the year ended December 31, 2023 results: net income $12,631,000, EPS $2.65.

Period: the year ended December 31, 2023
Net income: $12,631,000
EPS: $2.65
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, net income totaled $12,631,000

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Source: SEC EDGAR

accession 0000894671-24-000002

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