OVBC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Lower earnings during the three and six months ended June 30, 2026 compared to the same periods in 2025 were primarily impacted by higher provision expense caused by the collateral impairments of two commercial loan relationships. These collateral deficiencies required specific reserve allocations t…

• During the three and six months ended June 30, 2026, net interest income increased $863, or 5.9%, and $2,611, or 9.4%, over the same periods in 2025. The increases were primarily related to a $177,570 and $149,285 increase in average earning assets during the quarterly and year-to-date periods. This…

• During the three months ended June 30, 2026, noninterest income increased $338, or 11.9%, over the same period in 2025, while decreasing $20, or 0.3%, during the six months ended June 30, 2026 from the same period in 2025. The quarterly increase was driven by $377 in unrealized gains on equity secur…

• During the three and six months ended June 30, 2026, noninterest expense increased $196, or 1.8%, and $679, or 3.1%, over the same periods in 2025. Noninterest expense was impacted mostly by salaries and employee benefits, which increased $359 and $694 during the three and six months ended June 30, …

• Also included in total investment securities were marketable equity securities of $376 at June 30, 2026. During the second quarter of 2026, the Company participated in an exchange offer initiated by Visa, Inc., where 954 Visa Class B-1 shares were tendered by the Company in exchange for a mix of Vis…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• Lower earnings during the first quarter of 2026 compared to the first quarter of 2025 were primarily impacted by a $1,206 increase in provision expense caused by the collateral impairments of two commercial loan relationships. Lower earnings were also impacted by both noninterest income and noninter…

• During the three months ended March 31, 2026, net interest income increased $1,748, or 13.3%, over the same period in 2025. This increase was primarily related to a $120,686 increase in average earning assets, led mostly by a 14.0% increase in average loans. The growth in average loans was related t…

• During the three months ended March 31, 2026, noninterest income decreased $358, or 9.8%, from the same period in 2025. The decrease was primarily from electronic refund check and deposit fees, which decreased $540 from 2025. This was due to the expiration of a tax processing agreement with a third …

• During the three months ended March 31, 2026, noninterest expense increased $483, or 4.5%, over the same period in 2025. Noninterest expense was impacted mostly by salaries and employee benefits, which increased $335 due to annual merit increases and higher health insurance premiums. Also increasing…

• The following table provides the composition of commercial real estate loans by industry classification (as defined by the North American Industry Classification System).