{"id":519466,"date":"2021-07-28T17:49:46","date_gmt":"2021-07-28T21:49:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-valley-banc-corp-reports-2nd-quarter-earnings\/"},"modified":"2021-07-28T17:49:46","modified_gmt":"2021-07-28T21:49:46","slug":"ohio-valley-banc-corp-reports-2nd-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-valley-banc-corp-reports-2nd-quarter-earnings\/","title":{"rendered":"Ohio Valley Banc Corp. Reports 2nd Quarter Earnings"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n GALLIPOLIS, Ohio<\/span>, July 28, 2021<\/span> \/PRNewswire\/ —\u00a0Ohio Valley Banc Corp. [Nasdaq: OVBC] (the “Company”) reported consolidated net income for the quarter ended June 30, 2021<\/span>, of $2,861,000<\/span>, an increase of $598,000<\/span>, or 26.4%, from the same period the prior year. Earnings per share for the second quarter of 2021 were $.60<\/span> compared to $.47<\/span> for the prior year second quarter. For the six months ended June 30, 2021<\/span>, net income totaled $6,392,000<\/span>, an increase of $3,127,000<\/span>, or 95.8%, from the same period the prior year. Earnings per share were $1.34<\/span> for the first six months of 2021 versus $.68<\/span> for the first six months of 2020. Return on average assets and return on average equity were 1.06% and 9.39%, respectively, for the first half of 2021, compared to .62% and 5.07%, respectively, for the same period in the prior year.<\/p>\n

Ohio Valley Banc Corp. Chairman and CEO, Tom Wiseman<\/span> said, “It is interesting to note the pandemic had such a brief yet impactful effect on the banking industry, whether through direct assistance programs like stimulus payments and PPP loans or through changes in habits such as heightened use of debit and credit cards due to contactless shopping and food ordering. As we move forward and things return to normal, managers at Ohio Valley Bank and Loan Central are innovating to reduce expenses and augment product lines. A great example of that is OVB’s Capital Express accounts receivable financing, which assists local businesses by allowing them to borrow on outstanding invoices and improve their cash flow, all while making invoicing and bookkeeping a snap. Advancements like this are positively positioning the Company for the days ahead.”<\/p>\n

For the second quarter of 2021, net interest income increased $420,000<\/span>, and for the six months ended June 30, 2021<\/span>, net interest income increased $464,000<\/span> from the same respective periods last year. Contributing to the increase in net interest income was the growth in average earning assets, which was partially offset by a decrease in the net interest margin. For the six months ended June 30, 2021<\/span>, average earning assets increased $158 million<\/span> from the same period the prior year. The increase was partly due to average loans, which increased $60 million<\/span> from the first half of last year in relation to higher commercial loan balances. In general, commercial loan demand has been positive in our markets, particularly in the counties of Pike<\/span> and Athens<\/span> in Ohio<\/span> and Cabell County<\/span> in West Virginia<\/span>. Approximately $13 million<\/span> of the growth in average loans was related to the Company’s participation in the SBA’s Paycheck Protection Program (PPP) to assist various businesses in our market during the pandemic. The loan fees earned in association with the PPP loans for the six months ended June 30, 2021<\/span> totaled $593,000<\/span>, an increase of $522,000<\/span> from the same period the prior year. Also contributing to earning asset growth was the $71 million<\/span> increase in average balances maintained at the Federal Reserve. In relation to the various stimulus payments received by customers, the Company experienced a significant increase in deposit balances and, to the extent those deposits are not invested in loans or investments, they are invested at the Federal Reserve to be readily available for future funding needs. The earnings contribution from the higher balance of earning assets was mostly offset by a decrease in the net interest margin. For the six months ended June 30, 2021<\/span>, the net interest margin was 3.65%, compared to 4.13% for the same period the prior year. The decrease was primarily related to the actions taken by the Federal Reserve to reduce interest rates by 150 basis points in March of 2020. In relation to the decrease in market rates, the Company experienced a greater decrease in yield on earning assets than the average cost on interest-bearing liabilities. This trend was partly due to certain deposits already being at or near their interest rate floor, which limited the Company’s ability to reduce deposit costs to the same magnitude as experienced on earning assets. Furthermore, the current rate on balances maintained at the Federal Reserve is .15% and, when combined with the heightened balances, it has a dilutive effect on the net interest margin.<\/p>\n

For the three months ended June 30, 2021<\/span>, the provision for loan losses totaled $27,000<\/span> an increase of $420,000<\/span> from the same period last year. The increase was primarily related to the reduction in specific reserves on collateral-dependent, impaired loans during the second quarter of 2020 that led to negative provision expense for that quarter. For the six months ended June 30, 2021<\/span>, the provision for loan losses was negative $25,000<\/span>, a decrease of $3,478,000<\/span> from the same period last year. The decrease in provision for loan loss expense from the first half of 2020 was due to a decrease in net loan charge-offs of $1,408,000<\/span> and to a decrease in the provision expense associated with the establishment of an economic risk factor for the pandemic during the first quarter of 2020, which resulted in additional provision expense of $1,942,000<\/span> in the first quarter of 2020. The allowance for loan losses was .80% of total loans at June 30, 2021<\/span>, compared to .84% at December 31, 2020<\/span> and .96% at June 30, 2020<\/span>. The ratio of nonperforming loans to total loans improved to .77% at June 30, 2021<\/span>, compared to .82% at December 31, 2020<\/span> and 1.00% at June 30, 2020<\/span>.<\/p>\n

For the three months ended June 30, 2021<\/span>, noninterest income totaled $2,506,000<\/span>, an increase of $257,000<\/span> from the same period last year. For the six months ended June 30, 2021<\/span>, noninterest income totaled $5,845,000<\/span>, a decrease of $846,000<\/span> from the same period last year. The primary reason for the decrease in year-to-date noninterest income was due to the receipt of a $2,000,000<\/span> settlement payment from a third-party tax software product provider for early termination of its contract during the first quarter of 2020. As part of the settlement agreement, the Bank is processing a certain amount of tax items, which started in 2021 and will end in 2025. For the second quarter of 2021, the Bank recognized $135,000<\/span>, and for the six months ended June 30, 2021<\/span>, the Bank recognized $675,000<\/span> of additional income under the agreement. Also improving noninterest revenue was interchange income on debit and credit card transactions as customers increased spending. During the three months ended June 30, 2021<\/span>, interchange income increased $243,000<\/span> and increased $350,000<\/span>, or 18.7%, during the first half of 2021, as compared to the same periods in 2020, respectively. During 2021, the Company has experienced lower mortgage banking income following the heightened refinance boom that occurred during 2020. As a result, mortgage banking income decreased $245,000<\/span> and $156,000<\/span> during the three and six months ended June 30, 2021<\/span>, when compared to the same periods in 2020, respectively.<\/p>\n

For the three months ended June 30, 2021<\/span>, noninterest expense totaled $9,297,000<\/span>, a decrease of $305,000<\/span> from the same period last year. For the six months ended June 30, 2021<\/span>, noninterest expense totaled $18,484,000<\/span>, a decrease of $637,000<\/span>, or 3.3%, from the same period last year. The Company’s largest noninterest expense, salaries and employee benefits, decreased $147,000<\/span> as compared to the second quarter of 2020 and decreased $332,000<\/span> as compared to the first half of 2020. The decrease was primarily related to the expense savings associated with a lower number of employees. Further contributing to lower noninterest expense was professional fees.\u00a0 For the three months and six months ended June 30, 2021<\/span>, professional fees decreased $46,000<\/span> and $214,000<\/span>, respectively, from the same periods last year. The decrease was related to lower legal fees associated with collecting troubled loans.\u00a0 Partially offsetting the expense reductions above was an increase in FDIC insurance expense, which increased $55,000<\/span> from the prior year second quarter and increased $134,000<\/span> from the first half of 2020. The increase was primarily due to assessment credits received from the FDIC in 2020 that were not received in 2021.<\/p>\n

The Company’s total assets at June 30, 2021<\/span> were $1.237 billion<\/span>, an increase of $50 million<\/span> from December 31, 2020<\/span>. The increase in assets was related to a $61 million<\/span> increase in securities, offset by a $13 million<\/span> decrease in cash and cash equivalents. The growth in securities was related to investing the heightened deposit balances received during the first half of 2021. At June 30, 2021<\/span>, total deposits had increased $51 million<\/span> from year end in relation to customers receiving stimulus payments.<\/p>\n

Ohio Valley Banc Corp. common stock is traded on The NASDAQ Global Market under the symbol OVBC. The holding company owns The Ohio Valley Bank Company, with 15 offices in Ohio<\/span> and West Virginia<\/span>, and Loan Central, Inc. with six consumer finance offices in Ohio<\/span>. Learn more about Ohio Valley Banc Corp. at www.ovbc.com<\/a>.<\/p>\n

\n Caution Regarding Forward-Looking Information<\/b>\n <\/p>\n

Certain statements contained in this earnings release that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.\u00a0 Words such as “believes,” “anticipates,” “expects,” “appears,” “intends,” “targeted” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying those statements.\u00a0 Forward-looking statements involve risks and uncertainties.\u00a0 Actual results may differ materially from those predicted by the forward-looking statements because of various factors and possible events, including: (i) impacts from the novel coronavirus (COVID-19) pandemic on our business, operations, customers and capital position; (ii) higher default rates on loans made to our customers related to COVID-19 and its impact on our customers’ operations and financial condition; (iii) the impact of COVID-19 on local, national and global economic conditions; unexpected changes in interest rates or disruptions in the mortgage market related to COVID-19 or responses to the health crisis;\u00a0 (iv) the effects of various governmental responses to the COVID-19 pandemic; (v) changes in political, economic or other factors, such as inflation rates, recessionary or expansive trends, taxes, the effects of implementation of federal legislation with respect to taxes and government spending and the continuing economic uncertainty in various parts of the world; (vi) competitive pressures;\u00a0 (vii) fluctuations in interest rates; (viii) the level of defaults and prepayment on loans made by the Company; (ix) unanticipated litigation, claims, or assessments; (x) fluctuations in the cost of obtaining funds to make loans; (xi) regulatory changes; (xii) and other factors that may be described in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission from time to time.\u00a0 Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made to reflect unanticipated events.<\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n
\n OHIO VALLEY BANC CORP – Financial Highlights (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Three months ended<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six months ended<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 2021<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2021<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n PER SHARE DATA<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Earnings per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.60<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.47<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 1.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.68<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Dividends per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.21<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.21<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.42<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.42<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Book value per share<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 29.12<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 27.53<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a029.12<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 27.53<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Dividend payout ratio (a)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 35.14%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 44.43%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31.46%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 61.59%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Weighted average shares outstanding<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,787,446<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,787,446<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,787,446<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,787,446<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n DIVIDEND REINVESTMENT (in 000’s)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Dividends reinvested under<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 employee stock ownership plan (b)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0188<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0154<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Dividends reinvested under<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 dividend reinvestment plan (c)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0437<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0372<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0862<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0744<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n PERFORMANCE RATIOS<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 Return on average equity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8.32%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6.97%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9.39%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.07%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Return on average assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 0.92%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.83%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.06%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 0.62%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Net interest margin (d)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3.58%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.94%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3.65%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4.13%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Efficiency ratio (e)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 72.41%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 79.01%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 70.16%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 71.60%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Average earning assets (in 000’s)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 1,157,040<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 1,011,694<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 1,131,654<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 973,851<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (a) Total dividends paid as a percentage of net income.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (b) Shares may be purchased from OVBC and on secondary market.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (c) Shares may be purchased from OVBC and on secondary market.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (d) Fully tax-equivalent net interest income as a percentage of average earning assets.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (e) Noninterest expense as a percentage of fully tax-equivalent net interest income plus noninterest income.<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n
\n OHIO VALLEY BANC CORP – Consolidated Statements of Income (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Three months ended<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six months ended<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (in $000’s)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 2021<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2021<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Interest income:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Interest and fees on loans<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 10,562<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 10,639<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a021,127<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 21,512<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Interest and dividends on securities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 604<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 742<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,137<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,492<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Interest on interest-bearing deposits with banks<\/span>\n <\/p>\n<\/td>\n

\n

\n 33<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 18<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 61<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 180<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total interest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 11,199<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,399<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22,325<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,184<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Interest expense:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 799<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,367<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,682<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,876<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Borrowings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 185<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 237<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 380<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 509<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total interest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 984<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,604<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,062<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,385<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net interest income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 10,215<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9,795<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 20,263<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,799<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Provision for loan losses\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 27<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (393)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (25)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,453<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Noninterest income:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Service charges on deposit accounts<\/span>\n <\/p>\n<\/td>\n

\n

\n 390<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 333<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 795<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 826<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Trust fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 70<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 61<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 142<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 129<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Income from bank owned life insurance and<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 annuity assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 200<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 192<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 448<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 409<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Mortgage banking income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 186<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 431<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 365<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 521<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Electronic refund check\/deposit fees<\/span>\n <\/p>\n<\/td>\n

\n

\n 135<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —-<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 675<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —-<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Debit \/ credit card interchange income<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,173<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 930<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,223<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,873<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Gain (loss) on other real estate owned<\/span>\n <\/p>\n<\/td>\n

\n

\n —-<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 18<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (83)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Tax preparation fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 55<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 749<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 634<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Litigation settlement<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n —-<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —-<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —-<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Other<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 297<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 265<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 447<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 382<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total noninterest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,506<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,249<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,845<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,691<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Noninterest expense:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Salaries and employee benefits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,279<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,426<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,549<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,881<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Occupancy\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 465<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 449<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 932<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 881<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Furniture and equipment\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 269<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 278<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 565<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 540<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Professional fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 427<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 473<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 857<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,071<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Marketing expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 268<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 293<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 536<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 561<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 FDIC insurance\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 79<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 158<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Data processing\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 660<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 704<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,235<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,303<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Software<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 434<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 412<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 883<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 793<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Foreclosed assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 8<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 36<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 79<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Amortization of intangibles<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 14<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 17<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Other\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,394<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,490<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,720<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,954<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 9,297<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9,602<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 18,484<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,121<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income before income taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3,397<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,835<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,649<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,916<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 536<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 572<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,257<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 651<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n NET INCOME<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 2,861<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 2,263<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a06,392<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 3,265<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n OHIO VALLEY BANC CORP – Consolidated Balance Sheets (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (in $000’s, except share data)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n June 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n December 31<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 2021<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ASSETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash and noninterest-bearing deposits with banks<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a014,291<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 14,989<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest-bearing deposits with banks<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 110,949<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 123,314<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Total cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 125,240<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 138,303<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Certificates of deposit in financial institutions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,255<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Securities available for sale\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 172,555<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 112,322<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Securities held to maturity (estimated fair value:\u00a0 2021 – $11,069; 2020 – $10,344)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,845<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,020<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Restricted investments in bank stocks<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 7,385<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,506<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total loans\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 847,916<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 848,664<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Less:\u00a0 Allowance for loan losses\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n (6,799)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (7,160)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Net loans<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 841,117<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 841,504<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Premises and equipment, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 20,972<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21,312<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Premises and equipment held for sale, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 443<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 637<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other real estate owned, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 49<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued interest receivable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,987<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,319<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Goodwill<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 7,319<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,319<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other intangible assets, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 85<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 112<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Bank owned life insurance and annuity assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 36,998<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 35,999<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease right-of-use asset, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,095<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 880<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 7,692<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,150<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 1,236,988<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 1,186,932<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n LIABILITIES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Noninterest-bearing deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0324,576<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 314,777<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest-bearing deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 720,514<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 678,962<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Total deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,045,090<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 993,739<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other borrowed funds\u00a0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 24,304<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,863<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Subordinated debentures<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 8,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease liability<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,095<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 880<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 18,575<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,626<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,097,564<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,050,608<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n SHAREHOLDERS’ EQUITY<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Common stock ($1.00 stated value per share, 10,000,000 shares authorized;<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0 5,447,185 shares issued)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,447<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,447<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Additional paid-in capital<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 51,165<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,165<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Retained earnings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 97,369<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 92,988<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accumulated other comprehensive income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 1,155<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,436<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Treasury stock, at cost (659,739 shares)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n (15,712)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,712)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total shareholders’ equity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 139,424<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 136,324<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total liabilities and shareholders’ equity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 1,236,988<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 1,186,932<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

Contact:\u00a0 Scott Shockey<\/span>, CFO (740) 446-2631<\/p>\n

\n \"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/ohio-valley-banc-corp-reports-2nd-quarter-earnings-301343743.html<\/a><\/p>\n

SOURCE Ohio Valley Banc Corp.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire GALLIPOLIS, Ohio, July 28, 2021 \/PRNewswire\/ —\u00a0Ohio Valley Banc Corp. [Nasdaq: OVBC] (the “Company”) reported consolidated net income for the quarter ended June 30, 2021, of $2,861,000, an increase of $598,000, or 26.4%, from the same period the prior year. Earnings per share for the second quarter of 2021 were $.60 compared to $.47 for the prior year second quarter. For the six months ended June 30, 2021, net income totaled $6,392,000, an increase of $3,127,000, or 95.8%, from the same period the prior year. Earnings per share were $1.34 for the first six months of 2021 versus $.68 for the first six months of 2020. Return on average assets and return on average equity were 1.06% and … <\/p>\n

Continue reading “Ohio Valley Banc Corp. Reports 2nd Quarter Earnings”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-519466","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOhio Valley Banc Corp. Reports 2nd Quarter Earnings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-valley-banc-corp-reports-2nd-quarter-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ohio Valley Banc Corp. Reports 2nd Quarter Earnings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire GALLIPOLIS, Ohio, July 28, 2021 \/PRNewswire\/ —\u00a0Ohio Valley Banc Corp. [Nasdaq: OVBC] (the “Company”) reported consolidated net income for the quarter ended June 30, 2021, of $2,861,000, an increase of $598,000, or 26.4%, from the same period the prior year. Earnings per share for the second quarter of 2021 were $.60 compared to $.47 for the prior year second quarter. For the six months ended June 30, 2021, net income totaled $6,392,000, an increase of $3,127,000, or 95.8%, from the same period the prior year. Earnings per share were $1.34 for the first six months of 2021 versus $.68 for the first six months of 2020. Return on average assets and return on average equity were 1.06% and … Continue reading "Ohio Valley Banc Corp. Reports 2nd Quarter Earnings"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ohio-valley-banc-corp-reports-2nd-quarter-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-28T21:49:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CL58210&sd=2021-07-28\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-valley-banc-corp-reports-2nd-quarter-earnings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ohio-valley-banc-corp-reports-2nd-quarter-earnings\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ohio Valley Banc Corp. 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Earnings per share were $1.34 for the first six months of 2021 versus $.68 for the first six months of 2020. Return on average assets and return on average equity were 1.06% and … Continue reading \"Ohio Valley Banc Corp. 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