Ohio Valley Banc Corp. (Nasdaq: OVBC) (the “Company”) reported consolidated net income for the quarter ended March 31, 2022, of $4,125,000, an increase of $594,000, or 16.8%, from the same period the prior year.
Earnings per share for the first quarter of 2022 was $.87, compared to $.74 for the first quarter of 2021. Return on average assets and return on average equity were 1.34% and 11.78%, respectively, for the first quarter of 2022, versus 1.20% and 10.47%, respectively, for the same period the prior year.
“OVBC has had a successful quarter, and we intend to build on this momentum, At Ohio Valley Bank, we recently demonstrated this by expanding operating hours and announcing that contactless OVB credit cards are arriving in May. Loan Central has completed another season of tax advance loans and is helping the members of its communities prepare for summer expenses. At Race Day Mortgage, we are pushing out of the starting gate as we have now realized full staffing and are lending in more states with more lead generation partners. All these plans stem from a dedication to enhance the communities we serve. I cannot think of a better way to honor the bank’s 150th anniversary year.”said Chairman and CEO Tom Wiseman.