Ohio Valley Banc (OVBC) Q4 2024 earnings summary

Executive summary

• Net income for 2024 was $10.999 million, down from $12.631 million in 2023, with Q4 net income at $2.515 million versus $3.223 million in Q4 2023.

• Earnings per share for 2024 were $2.32, compared to $2.65 in 2023; Q4 EPS was $0.53, down from $0.68.

• Book value per share increased to $31.91 at year-end 2024 from $30.17 at year-end 2023.

Financial highlights

• Total interest income for 2024 rose to $75.763 million from $61.865 million year-over-year.

• Net interest income for 2024 was $48.804 million, up from $46.027 million in 2023.

• Noninterest income for 2024 totaled $13.171 million, up from $12.629 million in 2023.

• Noninterest expense increased to $46.130 million in 2024 from $41.368 million in 2023.

• Total assets grew to $1.50 billion at year-end 2024 from $1.35 billion at year-end 2023.

Outlook and guidance

• Dividend payout ratio increased to 41.21% for 2024 from 32.59% in 2023.

• Dividends per share remained steady at $0.88 for 2024 and $0.88 for 2023.