secwatch.observer — SEC 8-K summary
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Issuer:     OHIO VALLEY BANC CORP (OVBC)
CIK:        0000894671
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0000894671-24-000002
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894671/000089467124000002/0000894671-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894671/000089467124000002/sec8kearngsrels123123.htm
  HTML page:      https://secwatch.observer/filing/0000894671-24-000002

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