OVBC announces new CEO, special dividend
GALLIPOLIS, Ohio, May 19, 2022 /PRNewswire/ — Several announcements were made at Ohio Valley Banc Corp.’s annual meeting of shareholders, which was held Wednesday May 18.
Thomas E. WisemanChairman of the Board of Ohio Valley Bank and Ohio Valley Banc Corp. (Nasdaq: OVBC), announced the promotion of Larry E. Miller, II, as Chief Executive Officer (CEO) of Ohio Valley Bank and OVBC. As President and CEO, Miller will be responsible for all of the company’s business units and its subsidiaries.
Wiseman, who previously served as CEO, will remain chairman. Ryan J. Jones was promoted to chief operating officer of Ohio Valley Bank and OVBC. Jones will also continue to hold the Chief Risk Officer designation at both Ohio Valley Bank and OVBC. In these roles, Jones will oversee the company’s enterprise risk management efforts while managing the company’s operating units.
“As a company, we are committed to remaining an independent and community-based bank. To contribute to the achievement of this objective, we are continually preparing for the future by adhering to our succession plan, which is approved annually by the Board of Directors. The promotions of larry miller and ryan jones are consistent with the company’s previously approved plan,” Wiseman said. “Both Mr. Miller and Mr. Jones are ready to take on their new roles as the company continues to move forward.
Prior to being named CEO, Miller served as COO. He began his career at the OVB in 1986 working as a cashier. For the past three decades, he has held the positions of internal auditor, treasurer and secretary. In addition, Miller has also held several management and senior management positions. Miller is from County of Gallia and graduated from Ohio Valley Christian School. He holds a bachelor’s degree in corporate finance from Cedarville University. He is also a graduate of the Ohio School of Banking and the Graduate School of Banking in The University of Wisconsin-Madison.
Miller is an active member of the First Baptist Church of Gallipolis, where he previously served many years as a Sunday school teacher for young people. He also served on the board of his alma mater, Ohio Valley Christian School, for 24 years.
Jones began his banking career with The Milton Banking Company in 1999. He worked in the evidence/IT department and was later appointed Chief Compliance Officer and Secretary to the Board. Throughout his career, he has held numerous positions and was appointed to the board of directors of Milton Banking Company in 2012. When Milton Banking Company merged with Ohio Valley Bank in 2016, Jones was appointed senior vice president. Jones is a Jackson County native and graduate of Jackson High School. He holds a degree in business administration from the Rio Grande University. Additionally, he is a graduate of the Ohio Bankers League (OBL) Leadership Institute. He has also attended several leadership and training schools based in different banking fields.
The community is very important to Jones as he is the current President of the Jackson County Apple Festival Marching Band. He is also a member of Jackson Area Festivals and Events (JAFE) as well as many other local organizations. Jones has also coached for all of the youth organizations in jacksonincluding Jackson Pee Wee Football and Jackson Area Recreation baseball.
Also during the meeting, Wiseman announced that the OVBC Board of Directors had declared a 150and Special anniversary dividend of $0.15 per common share payable on June 10, 2022to shareholders of record at the close of business on May 31, 2022. The special dividend is on the occasion of the 150th anniversary of the Ohio Valley Bankand anniversary, which will take place this fall and was celebrated throughout 2022 through various events and giveaways, including cash giveaways. The special dividend is in addition to the regular quarterly dividends already paid this year.
“We are more than delighted to see the return of many events after the pandemic restrictions. We were particularly pleased to once again host our in-person annual shareholders meeting. After two years without being able to meet, it was a wonderful time to catch up with our shareholders – the people who continually help us achieve our goal of remaining a strong, independent community bank.and anniversary, which will take place this fall, is another reason to celebrate. The 150and The special anniversary dividend is just one more way to express our gratitude to those who have made our longevity as a successful company,” Wiseman said.
Ohio Valley Banc Corp. is based in Gallipolis, Ohio. The principal subsidiaries of the Company are: Ohio Valley Bank and Loan Central. Ohio Valley Bank is an FDIC-insured Federal Reserve member state bank that operates 16 offices in Ohio and West Virginia. Loan Central, which specializes in tax preparation and lending, is a financial company with six offices in the south Ohio. Shares of Ohio Valley Banc Corp. are traded on the NASDAQ Global Market under the symbol OVBC. For more information, visit www.ovbc.com or www.myloancentral.com.
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SOURCEOhio Valley Bench Corp.