OVLY — what changed in the latest 10-Q
A section-by-section comparison of OVLY's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-12 vs the prior 10-Q · 2025-11-13
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −26 | ~36 | 30 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-12
The Company recognized net income of $5,309,000 for the three-month period ended March 31, 2026, as compared to $5,297,000 for the same period in 2025. The net income increase was mainly due to higher net interest income corresponding to earning asset growth.
The Company recorded provisions for credit losses of $464,000 during the three-months ended March 31, 2026, as compared to $274,000 during the same period of 2025, as credit quality remained stable and the reserve amount was determined to be adequate.
Non-interest income increased by $339,000 for the three-month period ended March 31, 2026, as compared to the same period in 2025. The increase was mainly due to a non-recurring special dividend of $181,000 received from the Federal Home Loan Bank.
The FOMC rate cuts during 2024 and 2025 totaled 150 basis points, which prompted the Company to reduce the interest rates on certain deposit accounts towards the end of 2024 and into 2025. The resulting average cost of funds was 0.78% for the three-months ended March 31, 2026, as compared to 0.79% i…
(2) Yields and interest income on tax-exempt municipal securities and loans have been adjusted to their fully-taxable equivalents, based on a federal marginal tax rate of 21.0%. Non-GAAP tax benefit adjustments of $18 thousand and $521 thousand have been added to GAAP interest income on gross loans …
Text removed vs the prior filing · source: 10-Q · 2025-11-13
The Company recognized net income of $6,693,000 and $17,578,000 for the three and nine-month periods ended September 30, 2025, respectively, as compared to $7,324,000 and $18,940,000 for the same periods in 2024. The net income decreases were mainly due to higher operating expenses, which were offse…
The Company recorded a reversal of credit loss provisions of $60,000 during the three and nine-months ended September 30, 2025, as compared to a reversal of $1,620,000 during the same periods of 2024, as credit quality remained stable and the reserve amount was determined to be adequate. The reversa…
Non-interest income increased by $127,000 and $164,000 for the three and nine-month periods ended September 30, 2025, respectively, as compared to the same periods in 2024. The increase was mainly due to a one-time gain from a life insurance policy redemption.
In response to FOMC hiked rates during 2022 and 2023, the Company increased rates on certain accounts and deposit products during 2023 in order to remain competitive with our peer group and to maintain current liquidity levels, which remain at a high level. Towards the end of 2024 and into 2025, the…
(2) Yields and interest income on tax-exempt municipal securities and loans have been adjusted to their fully-taxable equivalents, based on a federal marginal tax rate of 21.0%. Non-GAAP tax benefit adjustments of $18 thousand and $482 thousand have been added to GAAP interest income on gross loans …
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-12
During the quarter ended March 31, 2026, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company informed us of the adoption or termination of any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements (in each case, as defined in Item 408 of Regu…
Text removed vs the prior filing · source: 10-Q · 2025-11-13
During the quarter ended September 30, 2025, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company informed us of the adoption or termination of any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements (in each case, as defined in Item 408 of …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice