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GALLIPOLIS, Ohio - Ohio Valley Banc Corp. (NASDAQ:OVBC), a regional bank with a market capitalization of $168.84 million, announced Wednesday that its Board of Directors has authorized a one-year extension of the company’s existing stock buyback program, which will now expire on August 31, 2026.
The program, initially approved in 2021 and previously set to expire at the end of this month, allows for the repurchase of up to $5 million in outstanding common stock. As of August 19, the company has repurchased approximately $2.97 million in common stock under the program. The stock has shown remarkable strength, delivering a 58% return over the past year, according to InvestingPro data.
No other changes were made to the buyback program, which maintains its original $5 million authorization limit. The Board retains the right to terminate or amend the program at any time before the new expiration date.
Ohio Valley Banc Corp., headquartered in Gallipolis, Ohio, is the parent company of The Ohio Valley Bank Company, which operates 17 offices across Ohio and West Virginia, and Loan Central, Inc., which has six consumer finance offices in Ohio.
The announcement was made through a company press release.
In other recent news, Ohio Valley Banc Corp. has declared a quarterly cash dividend of $0.23 per share, which will be paid on August 10, 2025, to shareholders recorded by July 25, 2025. This announcement aligns with the company’s report of strong loan growth in the first half of 2025, as noted by Chairman Tom Wiseman. Additionally, Ohio Valley Banc Corp. has been included in the Russell 3000 Index following the 2025 reconstitution of the Russell indexes. This inclusion also places the company in the small-cap Russell 2000 Index, as well as relevant growth and value style indexes. These developments were disclosed through a press release filed with the U.S. Securities and Exchange Commission.
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