Ohio Valley Banc Corp. reported a net income of $4.21 million for the second quarter of 2025, marking a 41.7% increase from $2.97 million in the same period of 2024. Earnings per share rose to $0.89, up from $0.63 year-over-year. For the first half of 2025, net income totaled $8.62 million, a 49.5% increase compared to $5.77 million in the first half of 2024. The growth in earnings was primarily driven by an 8.3% increase in average earning assets, which contributed to a 21.5% rise in net interest income for the second quarter and a 19.5% increase for the first half of the year.
The company’s total assets increased to $1.51 billion as of June 30, 2025, up from $1.50 billion at the end of 2024. This growth was largely attributed to a $39.44 million increase in loans, which reached $1.10 billion, driven by strong demand in commercial real estate and commercial and industrial lending. However, the residential real estate and consumer loan portfolios saw declines. Total deposits remained relatively stable, increasing slightly to $1.28 billion from $1.27 billion at year-end 2024, with a notable rise in noninterest-bearing deposits.
Ohio Valley Banc Corp. also experienced a significant increase in its allowance for credit losses (ACL), which rose to $10.86 million, or 0.99% of total loans, compared to $10.09 million, or 0.95%, at the end of 2024. The increase in the ACL was primarily due to higher loan balances and net charge-offs, reflecting a more cautious approach to credit risk amid changing economic conditions. The company’s provision for credit losses for the second quarter was $1.15 million, up from $181,000 in the same quarter of the previous year.
In terms of operational developments, the company has continued to focus on its participation in the Ohio Homebuyer Plus program, which has led to the introduction of the "Sweet Home Ohio" deposit account. This initiative aims to encourage home savings among Ohio residents and has contributed to an increase in deposits associated with the program. The company’s strategic focus remains on enhancing its commercial lending portfolio while managing liquidity and funding sources effectively in a competitive market environment.
Looking ahead, Ohio Valley Banc Corp. anticipates continued growth in its loan portfolio, particularly in commercial lending, while remaining vigilant about credit quality and economic conditions. The company is committed to maintaining its capital ratios above regulatory requirements and is focused on leveraging its liquidity position to support future growth initiatives.
About OHIO VALLEY BANC CORP
Ohio Valley Banc Corp. is a community-focused financial holding company primarily engaged in banking through its subsidiary, The Ohio Valley Bank. It offers a full range of banking services including deposits, loans, trust, and online banking in southeastern Ohio and western West Virginia. The company also participates in nonbank activities like insurance and securities, leveraging its local market expertise and regulatory compliance to serve individual and business customers.
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