Ohio Valley Banc Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
For the year, the company reported net interest income of $33,495,000 against $33,480,000 a year ago. Income before income taxes was $11,383,000 against $11,193,000 a year ago. Net income was $8,574,000 or $2.08 per share against $8,073,000 or $1.97 per share a year ago. Return on average assets as on December 31, 2015 was 1.03% against 1.01% as at December 31, 2014. Return on average equity as on December 31, 2015 was 9.66% against 9.62% as at December 31, 2014. Positively impacting net interest income was the growth in earning assets. The growth in earning assets was attributable to an increase in interest-bearing deposits with banks and to average loan balances.