Ohio Valley Banc Corp. (OVBC, Financial) filed Annual Report for the period ended 2010-12-31.
Ohio Valley Banc Corp. has a market cap of $84.7 million; its shares were traded at around $21.27 with a P/E ratio of 16.6 and P/S ratio of 1.6. The dividend yield of Ohio Valley Banc Corp. stocks is 3.9%. Ohio Valley Banc Corp. had an annual average earning growth of 0.4% over the past 10 years.
As a financial holding company registered under the BHC Act, Ohio Valley s primary business is community banking. As of December 31, 2010, Ohio Valley s consolidated assets approximated to $851,514,000, and total shareholders equity approximated to $68,128,000.
The Company s loan portfolio decreased $10,034,000 to finish at $641,322,000 in 2010. The loan portfolio is comprised of commercial (commercial real estate and commercial and industrial), residential real estate and consumer loans, including credit card and home equity loans. Commercial loans increased $3,966,000, or 1.4%, while consumer loans and residential real estate loans decreased $7,903,000, or 6.1%, and $6,097,000, or 2.5%, respectively, as compared to 2009. Consolidated interest and fee revenue from loans accounted for 82.52%, 79.82%, and 82.10% of total consolidated revenues in 2010, 2009 and 2008, respectively. The Company s market area for lending is primarily located in southeastern Ohio and portions of western West Virginia. The Company believes that there is no significant concentration of loans to borrowers engaged in the same or similar industries and does not have any loans to foreign entities.
Sources of funds for loan and investment activities include “core deposits.” Core deposits include demand deposits, savings and NOW accounts, and certificates of deposit less than $100,000. The Company will also utilize certificates of deposit from wholesale markets, when necessary, to support growth in assets. Borrowings have also been a significant source of funding. These include advances from the Federal Home Loan Bank, Federal Reserve Bank Notes and securities sold under agreements to repurchase. Repurchase agreements are financing arrangements with various customers that have overnight maturity terms. Further funding has come from two trust preferred securities offerings through Ohio Valley Statutory Trust I and Ohio Valley Statutory Trust III, totaling $13,500,000. Ohio Valley used the proceeds to provide additional capital to the Bank to support growth.
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Ohio Valley Banc Corp. has a market cap of $84.7 million; its shares were traded at around $21.27 with a P/E ratio of 16.6 and P/S ratio of 1.6. The dividend yield of Ohio Valley Banc Corp. stocks is 3.9%. Ohio Valley Banc Corp. had an annual average earning growth of 0.4% over the past 10 years.
Highlight of Business Operations:
Based on the closing sales price of $16.47 per share on June 30, 2010, the aggregate market value of the issuer s shares held by non-affiliates on such date was $60,727,295. For this purpose, shares held by non-affiliates are all outstanding shares except those held by the directors and executive officers of the issuer and those held by The Ohio Valley Bank Company as trustee with respect to which The Ohio Valley Bank Company has sole or shared voting or dispositive power.As a financial holding company registered under the BHC Act, Ohio Valley s primary business is community banking. As of December 31, 2010, Ohio Valley s consolidated assets approximated to $851,514,000, and total shareholders equity approximated to $68,128,000.
The Company s loan portfolio decreased $10,034,000 to finish at $641,322,000 in 2010. The loan portfolio is comprised of commercial (commercial real estate and commercial and industrial), residential real estate and consumer loans, including credit card and home equity loans. Commercial loans increased $3,966,000, or 1.4%, while consumer loans and residential real estate loans decreased $7,903,000, or 6.1%, and $6,097,000, or 2.5%, respectively, as compared to 2009. Consolidated interest and fee revenue from loans accounted for 82.52%, 79.82%, and 82.10% of total consolidated revenues in 2010, 2009 and 2008, respectively. The Company s market area for lending is primarily located in southeastern Ohio and portions of western West Virginia. The Company believes that there is no significant concentration of loans to borrowers engaged in the same or similar industries and does not have any loans to foreign entities.
Sources of funds for loan and investment activities include “core deposits.” Core deposits include demand deposits, savings and NOW accounts, and certificates of deposit less than $100,000. The Company will also utilize certificates of deposit from wholesale markets, when necessary, to support growth in assets. Borrowings have also been a significant source of funding. These include advances from the Federal Home Loan Bank, Federal Reserve Bank Notes and securities sold under agreements to repurchase. Repurchase agreements are financing arrangements with various customers that have overnight maturity terms. Further funding has come from two trust preferred securities offerings through Ohio Valley Statutory Trust I and Ohio Valley Statutory Trust III, totaling $13,500,000. Ohio Valley used the proceeds to provide additional capital to the Bank to support growth.
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