Ohio Valley Banc Corp. (OVBC) Reports Third Quarter of 2010 Financial Results
Ohio Valley Banc Corp. reported net income of $0.4 million, or $0.10 per diluted share, in the third quarter of 2010, compared to net income of $1.7 million, or $0.43 per share, in the corresponding quarter of 2009. The management of Ohio Valley Banc Corp. attributed the large decrease in net income on a year over year basis to a higher provision to the allowance for loan losses in the third quarter of 2010. The bank also saw lower income in both its mortgage business and bank owned life insurance segment. Ohio Valley Banc Corp. added $1.3 million to its…