Ohio Valley Banc Corp., incorporated on January 8, 1992, is a financial holding company. The Company has a banking subsidiary, The Ohio Valley Bank Company (the Bank). The Company's financial service operations are aggregated in two segments: banking and consumer finance. The Company also owns nonbank subsidiaries, which include Loan Central, Inc., which engages in lending (Loan Central); Ohio Valley Financial Services Agency, LLC, which is used to facilitate the receipt of commissions on insurances sold by the Bank and Loan Central (Ohio Valley Financial Services), and OVBC Captive, Inc., a limited purpose property and casualty insurance company (OVBC Captive). It is engaged in certain non-banking activities, such as securities underwriting and dealing activities, insurance agency and underwriting activities and merchant banking/equity investment activities.
The Bank is engaged in commercial and retail banking. The Bank is a financial institution offering a range of commercial and consumer banking services within southeastern Ohio, as well as western West Virginia. The banking services offered by the Bank include the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, floor plan and student loans, and the making of construction and real estate loans. The Bank also offers individual retirement accounts, safe deposit boxes, wire transfers and other standard banking products and services. As part of its lending function, the Bank offers credit card services. In addition to originating loans, the Bank invests in United States Government and agency obligations, interest-bearing deposits in other financial institutions, and other investments permitted by applicable law. The Bank also offers trust services and Internet banking to its customers.
Lending Activities
The Company's loan portfolio amounted to approximately $585.75 million. The loan portfolio comprises commercial (commercial real estate and commercial and industrial), residential real estate and consumer loans, including credit card and home equity loans. The Company's residential real estate loans consist primarily of one- to four-family residential mortgages. Real estate loans to consumers are secured by a first lien mortgage or deed of trust with evidence of title in favor of the Bank. These loans generally range from 1 year adjustable to 30 year fixed-rate mortgages. The Company's commercial loan portfolio consists of loans to corporate borrowers in small to mid-sized industrial and commercial companies that include service, retail and wholesale merchants. Collateral securing these loans includes equipment, inventory, stock, commercial real estate and rental property. Consumer loans are secured by automobiles, mobile homes, recreational vehicles and other personal property. Personal loans and unsecured credit card receivables are also included as consumer loans. Also included in the category of consumer loans are home equity loans. Home equity lines of credit are generally made as second mortgages and charged a variable interest rate.
Investment Activities
The Company's investment securities portfolio includes both securities held to maturity and securities available for sale. The Company's investment portfolio comprises the United States Government sponsored entity and mortgage-backed securities, as well as obligations of state and political subdivisions. The Company's total securities available for sale are approximately $91.65 million and total securities held to maturity are approximately $19.9 million.
Sources of Funds
The Company's sources of funds for loan and investment activities include core deposits. Core deposits include demand deposits, savings and negotiable order of withdrawal (NOW) accounts, and certificates of deposit less than $100,000. Short- and long-term advances from the Federal Home Loan Bank are also a source of funding.
420 3rd Ave
The company trades on NASDAQ exchange. The company headquarter is located in Ohio, OH. The company was established in the 1872.| Ticker | OVBC |
| Long Name | Ohio Valley Banc Corp. |
| Short Name | Ohio Valley Banc |