Ohio Valley Banc Q1 net income $2.79M, EPS $0.58 vs $0.82 YoY; net interest margin down to 3.61%

OHIO VALLEY BANC CORP

Q1 net income of $2.79M, down 28.5% YoY; diluted EPS $0.58 vs $0.82.
Net interest margin fell to 3.61% from 4.21% due to higher deposit costs.
Loan growth of $18M from Dec 31 to $990M; nonperforming loans ratio 0.37% vs 0.26%.
Total deposits increased $22M from year end, primarily in time deposits.
Noninterest expense rose 4.6% on higher salaries and benefits; efficiency ratio 71.47%.

item 2.02

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OHIO VALLEY BANC CORP reported the quarter ended March 31, 2024 results: net income $2,793,000, EPS $.58.

Period: the quarter ended March 31, 2024
Net income: $2,793,000
EPS: $.58
Result: reported results

Exact text from the filing

Ohio Valley Banc Corp. [Nasdaq: OVBC] (the “Company”) reported consolidated net income for the quarter ended March 31, 2024, of $2,793,000

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Source: SEC EDGAR

accession 0000894671-24-000012

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