Ohio Valley Banc Q3 net income $3.69M, EPS $0.77, +21.5% YoY; net interest margin expands

OHIO VALLEY BANC CORP

Net income $3.690M vs $3.036M in Q3 2021; diluted EPS $0.77 vs $0.63.
Net interest margin rose to 4.03% from 3.57% a year ago; net interest income up $1.486M.
Negative provision for loan losses of $378k vs $93k negative in prior year; nonperforming loans improved to 0.46% from 0.72%.
Noninterest expense increased $878k to $10.347M largely due to Race Day Mortgage staffing and marketing.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OHIO VALLEY BANC CORP reported the nine months ended September 30, 2022 results: net income $9,814,000, EPS $2.06.

Period: the nine months ended September 30, 2022
Net income: $9,814,000
EPS: $2.06
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2022, net income totaled $9,814,000, an increase of $386,000, or 4.1%, from the same period the prior year. Earnings per share were $2.06 for the first nine months of 2022 versus $1.97 for the first nine months of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OHIO VALLEY BANC CORP reported the quarter ended September 30, 2022 results: net income $3,690,000, EPS $.77.

Period: the quarter ended September 30, 2022
Net income: $3,690,000
EPS: $.77
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, 2022, of $3,690,000, an increase of $654,000, or 21.5%, from the same period the prior year. Earnings per share for the third quarter of 2022 were $.77 compared to $.63 for the prior year third quarter.

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Source: SEC EDGAR

accession 0001140361-22-038762

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