Ohio Valley Banc Corp. reported increased third-quarter 2022 earnings. Pictured is the Ohio Valley Bank location in Point Pleasant, Mason County, on Nov. 1, 2022.
The United Bank building in downtown ÂÒÂ×ÄÚÉä is pictured here on Oct. 29, 2017. United Bankshares Inc. is the parent company of United Bank.
Gazette-Mail file photo
United Bankshares Inc., the holding company for United Bank, last week reported second-quarter earnings of $131.4 million and first-half earnings of $255.6 million. In the same periods last year, the company earned $120.7 million and $205 million, respectively.
“We delivered record results in the second quarter, and our consistent and disciplined approach to managing our Company’s affairs continues to pay dividends,†Richard M. Adams Jr., United’s CEO, said in a news release. “We look forward to continued growth in the second half of the year.â€
United Bankshares has consolidated assets of approximately $34 billion. It is the 39th largest banking company in the U.S. based on market capitalization. United Bank has more than 240 offices located across Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania and Georgia.
City Holding Co. is the parent company of City National Bank of West Virginia and has its corporate offices at Cross Lanes is shown on Jan. 26, 2021.
HD Media file photo
City Holding Co., the parent company of City National Bank, reported second-quarter net income of $33.3 million in the second quarter, a slight decrease from $33.39 million in the second quarter of last year.
Ohio Valley Banc Corp. reported increased third-quarter 2022 earnings. Pictured is the Ohio Valley Bank location in Point Pleasant, Mason County, on Nov. 1, 2022.
HD Media file photo
Ohio Valley Banc Corp. reported net income for the quarter ending June 30 of $2.927 million, a decrease of $1.283 million, or 30.5%, from the same period last year. For the first six months of the year, net income was $7.224 million, a decrease of $1.392 million, or 16.2%, from the same period last year.
In a news release, CEO Larry Miller said, “Our performance through the first half of 2026 was driven by solid growth in net interest income and a stable net interest margin. Results for the period reflected an increase in provision for credit losses, which are associated with a small number of large commercial credits. Based on our ongoing review, we believe the elevated risk is confined to these specific relationships and does not reflect a broader deterioration in portfolio credit quality. Overall, we remain confident in the strength of our balance sheet and our long-term outlook.â€
Ohio Valley Banc Corp. is the holding company for Ohio Valley Bank, which has 19 offices in Ohio and West Virginia, and Loan Central Inc., with six consumer finance offices in Ohio.
