Ohio Valley Banc Corp. Reports 11.4% Increase in Q3 Net Income to $3.03 Million

Ohio Valley Banc Corp. reported a net income of $3.03 million for the third quarter of 2025, reflecting a 11.4% increase from $2.72 million in the same period of 2024. Earnings per share rose to $0.64, up from $0.58 year-over-year. For the first nine months of 2025, net income totaled $11.65 million, a 37.3% increase compared to $8.48 million in the prior year, with earnings per share climbing to $2.47 from $1.79. The growth in profitability was primarily driven by a 16% increase in net interest income for the quarter, totaling $14.6 million, and an 18.3% increase for the nine-month period, amounting to $42.27 million.

The company’s total assets increased to $1.57 billion as of September 30, 2025, up from $1.50 billion at the end of 2024. This growth was largely attributed to a $68.7 million increase in loans, which reached $1.13 billion, driven by strong performance in commercial real estate and commercial and industrial lending. Total deposits also rose to $1.33 billion, a 4.5% increase from $1.28 billion at year-end 2024, with interest-bearing deposits contributing significantly to this growth.

Ohio Valley Banc Corp. has made strategic adjustments in its operations, including participation in the Ohio Homebuyer Plus program, which has led to the introduction of the "Sweet Home Ohio" deposit account. This initiative has resulted in a notable increase in customer engagement, with the balance of these accounts rising to $9.05 million by the end of September 2025. The company has also focused on enhancing its loan portfolio, particularly in higher-yielding segments, while managing its funding sources to maintain a favorable net interest margin.

Operationally, the company reported a slight increase in noninterest expenses, which rose by 2.4% in the third quarter and 1.6% year-to-date, primarily due to higher data processing and marketing costs. However, salaries and employee benefits decreased, reflecting a reduction in the workforce following a voluntary early retirement program. The allowance for credit losses increased to $11.42 million, or 1.01% of total loans, up from $10.09 million at the end of 2024, indicating a proactive approach to managing credit risk amid a growing loan portfolio.

Looking ahead, Ohio Valley Banc Corp. remains optimistic about its growth trajectory, emphasizing the importance of maintaining asset quality while expanding its lending activities. The company is committed to leveraging its liquidity and capital resources to navigate the evolving economic landscape and capitalize on emerging opportunities in its markets.