SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
February 4, 2002 (January 15, 2002)
Date of Report (Date of earliest event reported)
OHIO VALLEY BANC CORP
(Exact name of registrant as specified in its charter)
Ohio
(State or other jurisdiction of incorporation)
0-20914 31-1359191
(Commission file number) (IRS Employer Identification Number)
420 Third Avenue, Gallipolis, Ohio 45631
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (740) 446-2631
Not Applicable
(Former name or former address, if changed since last report.)
Exhibit Index at Page 4.
Item 1. Changes in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not applicable.
Item 5. Other Events.
On January 15, 2002 the Company's Board of Directors approved to extend
its Treasury Stock Repurchase Program to February 10, 2003. The original
maturity date was February 10, 2002. The extension authorizes the repurchase of
up to 172,000 shares or approximately 5% of the Company's outstanding common
shares from time to time in open market or privately negotiated purchases. The
timing of the purchases and the actual number of common shares purchased will
depend on market conditions. The extension is described in the press release
issued on February 4, 2002, which is included herewith as Exhibit 99.
Item 6. Resignations of Registrant's Directors.
Not applicable.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
99 Press release of Ohio Valley Banc Corp
issued February 4, 2002.
Item 8. Change in Fiscal Year.
Not applicable.
Item 9. Sales of Equity Securities Pursuant to Regulation S.
Not applicable.
Page 2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
OHIO VALLEY BANC CORP
Date: February 4, 2002 By /s/ Jeffrey E. Smith
-------------------------------
Jeffrey E. Smith, President and
Chief Executive Officer
Page 3
EXHIBIT INDEX
Exhibit Number Description
-------------- -----------
99 Press release of Ohio Valley Banc Corp issued
February 4, 2002.
Page 4
Exhibit 99
FOR IMMEDIATE RELEASE
2/4/2002
Contact: Scott Shockey 1-800-468-6682 or (740) 446-2631
OVBC EXTENDS STOCK REPURCHASE PROGRAM
GALLIPOLIS (OH)--Ohio Valley Banc Corp. (OVBC) Board of Directors recently
voted to extend the maturity of its Treasury Stock Repurchase Program to
February 10, 2003. The original maturity date was February 10, 2002.
OVBC shareholders purchased 46,751 shares of common stock in 2001 under the
Dividend Reinvestment Plan (DRIP). This authorization by the board will permit
the purchase of shares, when available, for the Treasury to meet the demand for
DRIP shares as well as other corporate purposes. The original program began on
June 15, 1999, when Ohio Valley Banc Corp. was authorized by its Board of
Directors to repurchase up to 175,000 shares of OVBC common stock through open
market and privately negotiated purchases. Since that date, Treasury purchases
have totaled 129,900 common shares.
The timing of the purchases, the prices paid and the actual number of
shares of common stock purchased will depend upon market conditions. All shares
of common stock purchased will be held as treasury shares and will be available
for use by Ohio Valley Banc Corp. pursuant to the terms of OVBC's Dividend
Reinvestment and Stock Purchase Plan as well as for other general corporate
purposes.
Ohio Valley Banc Corp. operates two subsidiaries: Ohio Valley Bank, with 17
offices in Ohio and W.Va., and Loan Central, with four offices in Ohio. Ohio
Valley Banc Corp. stock is traded on NASDAQ under the symbol OVBC.
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