OVBC

ANNUAL REPORT

2020

Honoring 50 years in Rio Grande

A note about the cover:

Throughout much of this report you will see how your company faced the challenges of the COVID-19 global pandemic that changed everything. There is no doubt that when we mark this year in history, the pandemic will always be front and center. However, it should also be noted that there were other things that happened in 2020. Fantastic things. Positive milestones and achievements that deserved not to be swept aside and forgotten. And for this reason, we chose to adorn this year's cover not with masks, but with a celebration. Help us in congratulating the community bankers at OVB Rio Grande on the 50th anniversary of Ohio Valley Bank's first branch.

Remote workstation technology was set up for 71 employees in just two weeks, securing the continuancy of financial services for our communities. Pictured in mask is Chairman Wiseman; on screen is President Miller.

MESSAGE FROM MANAGEMENT

Dear Neighbors and Friends,

Before the 2020 pandemic, the CDC notes the Flu Pandemic of 1918 as the most severe in recent history. OVB survived that one too.

We have always attributed the bank's longevity to the loyal support of our community. We returned that support with interest during this pandemic.

When we had to close Ohio Valley Bank lobbies, we extended drive-thru hours and invested over $170,000 in advancing contactless banking services. When the IRS sent over 3,000 stimulus checks to Loan Central instead of to the people, we didn't just send them back to the IRS as our competitors did. We got each one to its rightful owner. When gatherings of more than ten were banned, we secured the means to hold the first virtual Annual Meeting in the company's history. When the big banks used their might to try to scoop up all the Paycheck Protection Program (PPP) funding, we worked through the nights and weekends to secure over $35 million for our local businesses.

Ohio Valley Bank and Loan Central did not lay off any workers or permanently close any offices. As a matter of fact, it was all hands on deck as we accelerated technology projects, put in overtime, sought opportunities for expansion, and worked to be there for our communities in new ways.

And though we were able to keep business as usual for the most part, special honors had to be delayed. Milestones like the completion of OVB on the Square and the retirement celebration for the distinguished career of former Chairman Jeff Smith were put on hold. We do still plan to celebrate both when Governor DeWine lifts gathering restrictions.

Another event you can count on, though it will be a virtual event, is our 2021 Annual Shareholders Meeting. Plan to join us online May 19th at 3:00 p.m. Have your control number, found with your voting information, ready when you log in. We plan to return to the Ariel Theatre in 2022. Until then, know that your teams here at Ohio Valley Banc Corp. deeply appreciate your ongoing support and will continue working to pay it forward to the communities we share.

Sincerely,

Thomas E. Wiseman

Chairman of the Board & CEO

Ohio Valley Banc Corp.

Larry E. Miller, II

President & Chief Operating Officer

Ohio Valley Banc Corp.

Hometown commercial loan officers like Shelly Boothe and Pat Tackett worked into the wee hours of the morning for several days to secure PPP funding for local businesses.

With lobbies closed for much of 2020, contactless banking channels such as mobile banking, ATMs, and drive-thru windows took center stage. With a robust technology infrastructure already in place, Ohio Valley Bank was well prepared for the challenges of the year.

OVB's ATM network includes 35 locally installed machines and customer surcharge-free access to more than 37,000 through the MoneyPass network. The added convenience of drive-thru ATMs at 12 locations, made banking even easier.

Ohio Valley Bank introduced a major upgrade to its OVB Line telephone banking in May. The project was in progress before the pandemic, but couldn't come at a better time. The improved OVB Line fielded over 10,000 calls in its first month, answering customer needs on the first ring.

Users flocked to NetTeller internet banking and the OVB Mobile App each month. More than 2,000 customers discovered the ease of mobile banking for the first time in 2020. Text Message Banking received a record 35,358 requests for balances and history.

These electronic channels provided access 24/7 during the unprecedented crisis, but they could never replace the special touch of our hometown community bankers. These remarkable folks found ways to work with safety protocols to continue to provide unmatched service, as proven by the more than 450,000 estimated transactions conducted at OVB drive-thru windows during the year and outreach in the form of six-months of deferred loan payments, waived early closeout fees for Christmas Savings accounts, and financial support for charities committed to helping our communities.

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2020 BY THE NUMBERS

$35,000,000

In 100% forgiveable loans secured by OVB for businesses through the SBA.

$10,649,306.02

Deposited using a cell phone or tablet on the go.

Over a million in the month of December alone!

225,566

Statements and notices contactlessly delivered by OVB eDelivery.

116,640

Online bill payments sent by customers.

678,320

Safe and secure transactions at the ATM.

214,553

People shopped for their next vehicle at the online OVB Auto Loan Center.

77,903

Calls answered by OVB Line telephone banking, assisting customers with transfers, loan payments, debit card activation and more.

$172,000,000

Increase in total deposits at December 31 over the prior year.

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Disclaimer

Ohio Valley Banc Corporation published this content on 03 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2021 08:05:06 UTC.