Ohio Valley Banc Corp director Michael Seth Isaac buys shares for $2,999

Michael Seth Isaac, a director at Ohio Valley Banc Corp (NASDAQ:OVBC), recently added to his holdings in the company. According to a recent SEC filing, Isaac purchased 115.0484 common shares of Ohio Valley Banc Corp at a price of $26.0759 per share on February 21, 2025. This transaction amounted to a total value of approximately $2,999. The bank, currently valued at $125 million, trades at a P/E ratio of 11.4 and maintains a solid financial health score according to InvestingPro analysis.

Additionally, Isaac acquired 2.0459 shares through a dividend reinvestment plan, bringing his total holdings to 359.5733 shares. These acquisitions reflect Isaac’s continued investment in Ohio Valley Banc Corp, a state commercial bank headquartered in Gallipolis, Ohio. The bank has maintained dividend payments for 32 consecutive years, currently offering a 3.35% yield. InvestingPro subscribers can access additional insights on insider trading patterns and 12+ more exclusive tips about OVBC’s performance.

In other recent news, Ohio Valley Banc Corp reported a decline in net income for both the fourth quarter and the full year ending December 31, 2024. The company disclosed a quarterly net income of $2,515,000, down from $3,223,000 the previous year, with annual net income falling to $10,999,000, a 12.9% decrease. Earnings per share for the fourth quarter were $.53 compared to $.68 in the prior year, while the full-year EPS was $2.32, down from $2.65 in 2023. Despite these decreases, the company saw an increase in net interest income due to a $187 million rise in average earning assets, driven primarily by loan growth in commercial and residential real estate lending.

Additionally, Ohio Valley Banc Corp announced a quarterly cash dividend of $0.22 per common share, to be paid on February 10, 2025, to shareholders of record as of January 24, 2025. This dividend declaration reflects the company’s ongoing commitment to delivering value to its investors. In other developments, Thomas E. Wiseman, an executive officer of Ohio Valley Banc Corp, will retire effective January 1, 2025, but will continue as the non-executive Chairman of the Board of Directors. He will maintain a non-voting membership on the Audit and Enterprise Risk Committees and a voting membership on the Executive Committee.

These recent developments highlight significant changes in Ohio Valley Banc Corp’s financial performance and leadership structure. The company has attributed the decline in net income to one-time expenses, including a voluntary early retirement program and account bonuses. Despite these challenges, Ohio Valley Banc Corp continues to focus on strategic decisions aimed at future success.

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