Ohio Valley Banc Corp. is an Ohio corporation registered as a financial holding
company pursuant to the Bank Holding Company Act of 1956, as amended (“BHC
Act”). Ohio Valley was incorporated under the laws of the State of Ohio
on January 8, 1992 and began conducting business on October 23, 1992. The principal
executive offices of Ohio Valley are located at 420 Third Avenue, Gallipolis,
Ohio 45631. Ohio Valley’s common shares are listed on The NASDAQ Global
Market under the symbol “OVBC.” Ohio Valley has one banking subsidiary,
The Ohio Valley Bank Company (the “Bank”). Ohio Valley also owns
three nonbank subsidiaries, Loan Central, Inc., which engages in lending (“Loan
Central”), Ohio Valley Financial Services Agency, LLC, which is used to
facilitate the receipt of commissions on insurance sold by the Bank and Loan
Central (“Ohio Valley Financial Services”), and OVBC Captive, Inc.,
a limited purpose property and casualty insurance company (“OVBC Captive”).
Ohio Valley also owns one wholly-owned subsidiary trust formed solely to issue
a trust preferred security.
Ohio Valley is also permitted to engage in certain non-banking activities
under the provisions of the Gramm-Leach-Bliley Act (“GLB Act”),
such as securities underwriting and dealing activities, insurance agency and
underwriting activities and merchant banking/equity investment activities. Ohio
Valley presently has an insurance agency, Ohio Valley Financial Services, which
is used to facilitate the receipt of commissions on insurance sold by the Bank
and Loan Central. Ohio Valley also has a captive insurance company, OVBC Captive,
that is engaged in the business of providing commercial property and various
liability insurance to the Company and related entities. Management will consider
opportunities to engage in additional nonbanking activities as they arise.
The Bank is primarily engaged in commercial and retail banking. The Bank is
a full-service financial institution offering a blend of commercial and consumer
banking services within southeastern Ohio as well as western West Virginia.
The banking services offered by the Bank include the acceptance of deposits
in checking, savings, time and money market accounts; the making and servicing
of personal, commercial, floor plan and student loans; and the making of construction
and real estate loans. The Bank also offers individual retirement accounts,
safe deposit boxes, wire transfers and other standard banking products and services.
As part of its lending function, the Bank offers credit card services. The Bank’s
deposits are insured up to applicable limits by the Federal Deposit Insurance
Corporation (“FDIC”). In addition to originating loans, the Bank
invests in U.S. government and agency obligations, interest-bearing deposits
in other financial institutions, and other investments permitted by applicable
law.
Loan Central is engaged in consumer finance, offering smaller balance personal
and mortgage loans to individuals with higher credit risk history. Loan Central’s
line of business also includes seasonal tax refund loan services. Loan Central
presently has seven offices, all located within southeastern Ohio.
Ohio Valley Financial Services is a licensed insurance agency that is used
to facilitate the receipt of commissions on insurance sold by the Bank and Loan
Central. Ohio Valley Financial Services is licensed by the State of Ohio Department
of Insurance.
OVBC Captive is a pure captive insurance company engaged in providing commercial
property and various liability insurance to the Company and affiliates. OVBC
Captive has been approved under the guidelines of the State of Nevada Division
of Insurance.
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