Quarterly ResultApr 28, 2026, 01:22 PM
OVBC Q1 Net Income $4.3M (-2.5%); EPS $0.91; Net Interest Income +13.3%
AI Summary
Ohio Valley Banc Corp. reported Q1 2026 consolidated net income of $4.3 million, a 2.5% decrease from the prior year, with EPS at $0.91. Despite this, net interest income grew by 13.3% to $14.9 million, and net interest margin expanded to 4.01%. The decline in net income was primarily driven by a significant increase in the provision for credit losses to $1.6 million, largely due to specific allocations for two collateral-dependent loans and an increase in nonperforming loans. Noninterest income decreased due to the expiration of a tax processing agreement, while noninterest expenses rose.
Key Highlights
- Net income decreased 2.5% to $4.3 million.
- EPS was $0.91, down from $0.94 in Q1 2025.
- Net interest income increased 13.3% to $14.9 million.
- Net interest margin expanded to 4.01% from 3.85%.
- Provision for credit losses surged to $1.6 million, up $1.2 million.
- Nonperforming loans to total loans rose to 1.64% from 0.48% YoY.
- Total assets increased $95 million to $1.678 billion.
- Total deposits increased $94 million to $1.423 billion.