Ohio Valley Banc Corp. (NASDAQ: OVBC) said on Wednesday its board has extended the company’s stock buyback program to August 31, 2027, from the prior expiration date of August 31, 2026.
The $5 million authorization, originally approved in 2021, allows the Gallipolis, Ohio-based bank to repurchase shares of its outstanding common stock. As of Monday, the company had repurchased approximately $2,967,000 in common stock under the program.
Ohio Valley Banc operates 19 offices through its subsidiary The Ohio Valley Bank Company in Ohio and West Virginia, and six consumer finance offices in Ohio via Loan Central, Inc. The board retains the authority to terminate or amend the program at any time before the new expiration date.
No changes were made to the terms of the buyback program beyond the one-year extension.
