Ohio Valley Banc Corp. Announces Stock Repurchase

TL;DR

OVBC buying back stock - could be good for shareholders.

AI Summary

Ohio Valley Banc Corp. announced on August 21, 2024, that it has entered into a stock purchase agreement to repurchase shares of its common stock. The filing does not specify the exact number of shares or the total dollar amount of the repurchase, but it indicates an extension related to the repurchase of common stock.

Why It Matters

This announcement suggests the company is returning capital to shareholders, which could signal confidence in its financial position or a strategy to boost shareholder value.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a stock repurchase, which is a common corporate action with no immediate indication of significant financial distress or unusual risk.

Key Players & Entities

• Ohio Valley Banc Corp. (company) — Registrant
• August 21, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $5,000,000 — gram authorizes the repurchase of up to $5,000,000 in shares of the Company's outstanding
• $2,967,000 — e Company had repurchased approximately $2,967,000 in common stock. Other than the extensi

Filing Documents

• sec8krepurchofshrscover.htm (8-K) — 25KB
• sec8krepurchofshrs.htm (EX-99.1) — 4KB
• 0000894671-24-000021.txt ( ) — 162KB
• ovbc-20240821.xsd (EX-101.SCH) — 4KB
• ovbc-20240821_lab.xml (EX-101.LAB) — 21KB
• ovbc-20240821_pre.xml (EX-101.PRE) — 16KB
• sec8krepurchofshrscover_htm.xml (XML) — 4KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure . The Board of Directors of Ohio Valley Banc Corp. ("OVBC") has extended the expiration date of its existing share repurchase program to August 31, 2025. The repurchase program was originally approved by the Board in 2021 and was set to expire on August 31, 2024. The share repurchase program authorizes the repurchase of up to $5,000,000 in shares of the Company's outstanding common stock. As of August 21, 2024, the Company had repurchased approximately $2,967,000 in common stock. Other than the extension of the program for an additional year, no changes were made to the stock buyback program. The program may be terminated or amended by the Board at any time prior to the expiration date. A copy of a press release issued to announce the extension of the repurchase program is attached hereto as an exhibit and incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits – The following exhibit is being filed with this Current Report on Form 8-K: Exhibit Number Description 99.1 Press release issued on August 21, 2024.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. OHIO VALLEY BANC CORP. Date: August 21, 2024 By: /s/Larry E. Miller II Larry E. Miller II President and Chief Executive Officer EXHIBIT INDEX Exhibit Number Description 99.1 Press release issued on August 21, 2024.