Ohio Valley Banc Q3 net income up 20.8% YoY to $2.72M; loan growth exceeds expectations

OHIO VALLEY BANC CORP

Q3 2024 EPS $0.58 vs $0.47 YoY; net income $2.72M, up 20.8%.
Nine-month net income $8.48M ($1.79 EPS), down from $9.41M ($1.97 EPS) in 2023.
Loan growth of $77M in 2024, driven by commercial and residential; net interest margin improved sequentially.
Voluntary early retirement program: $295K expense in Q3, expects additional $3.04M in Q4 to reduce future salary costs.
Ohio HomeBuyer Plus program drove $100M in deposits and $109M securities increase; exited indirect auto/RV lending Oct 11.

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