Ohio Valley Banc Corp Liquidation Value

OVBC is a community bank holding company (total assets $1.68B at March 31, 2026) operating through The Ohio Valley Bank Company and Loan Central in southeastern Ohio and western West Virginia. Under a liquidation lens, equity recovery is driven almost entirely by the loan book and investment securities against a liability stack dominated by deposits and FHLB advances, all carried at face value on the liability side.

Key balance sheet figures from the 10-Q narrative (not separately XBRL-tagged in this filing's TAG_CONTEXT): total loans $1.21B gross, ACL $12.9M (1.07% of loans), total deposits $1.42B, other borrowed funds $43.5M, shareholders' equity $171.3M. The $1.42B deposit liability stack stays at face value in liquidation; the $43.5M FHLB/promissory note stack similarly stays at face. Operating lease liabilities of $876K persist at face. Off-balance sheet commitments of $232M have an ACL reserve of $791K but represent contingent, not certain, obligations.

On the asset side, cash and equivalents of $125.3M recover at 100%. The loan portfolio of $1.21B gross (net $1.20B after ACL) would face meaningful haircuts in a distressed sale—commercial real estate at $484M (39.9% of loans, concentrated 52% in real estate rental/leasing and 16% in accommodation/food services), residential real estate at $424M, and consumer at $134M. A 10-15% distressed-sale haircut on the net loan book alone would erode $120-180M against $171M of book equity. The investment securities portfolio (AFS + HTM, approximately $250M from narrative discussion) carries unrealized losses that have already compressed AOCI; further rate-driven mark-downs would widen the gap. PP&E recovers at 50-70% haircut; operating ROU assets receive zero recovery in liquidation.

The primary deterioration since year-end 2025: ACL increased $1.4M (12.4%) driven by a $2.0M specific allocation on two collateral-dependent commercial real estate borrowers, nonperforming loans/total loans rose to 1.64% from 1.40%, and the deposit base grew $94M (7.1%), expanding the face-value liability stack faster than asset growth. Collateral-dependent loan exposure (amortized cost basis) declined from $21.2M at December 31, 2025 to $18.1M at March 31, 2026, partly reflecting reclassification or paydown. Brokered deposits grew to $69.0M from $61.5M, adding to the higher-cost, potentially more volatile portion of the liability base. MFFAIS liquidation values (CLV/LLV/OLV) are all reported at $45.0M—consistent with meaningful negative equity recovery once loan-book haircuts are applied against the face-value deposit and borrowing stack. The TAG_CONTEXT provided is empty, meaning no XBRL tags were separately enumerated for this filing; all quantitative data above is drawn from narrative/tabular disclosures in the 10-Q body and should be verified against the formal balance sheet statements.