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
June 21, 1999 (June 16, 1999)
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Date of Report (Date of earliest event reported)
OHIO VALLEY BANC CORP.
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(Exact name of registrant as specified in its charter)
Ohio
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(State or other jurisdiction of incorporation)
0-20914 31-1359191
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(Commission file number) (IRS Employer Identification Number)
420 Third Avenue, Gallipolis, Ohio 45631
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (740) 446-2631
Not Applicable
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(Former name or former address, if changed since last report.)
Exhibit Index at Page 4.
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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 June 15, 1999, the Company's Board of Directors adopted a
resolution authorizing the repurchase of up to 175,000 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. This stock
repurchase program, effective immediately, will continue through February 15,
2000, unless the program is extended by the Board of Directors. The stock
repurchase program is described in the press release issued on June 16, 1999,
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 June 16, 1999.
ITEM 8. CHANGES IN FISCAL YEAR.
Not applicable.
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
Not applicable.
Page 2
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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: June 21, 1999 By /s/James L. Dailey
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James L. Dailey, Chairman and
Chief Executive Officer
Page 3
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EXHIBIT INDEX
Exhibit Number Description
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99 Press release of Ohio Valley Banc Corp. issued June 16, 1999.
Page 4
Exhibit 99
FOR IMMEDIATE RELEASE
Contact: Bryna Butler or Phyllis Wilcoxon
1-800-468-6682 or (740) 446-2631
Ohio Valley Banc Corp. Announces Stock Repurchase Program
GALLIPOLIS, OHIO (June 16, 1999) --- Ohio Valley Banc Corp. ("OVBC") was
authorized by its Board of Directors on June 15, 1999 to repurchase up to
175,000 shares of OVBC common stock through open market and privately negotiated
purchases. The timing of the purchases, the prices paid and the actual number of
shares of common stock purchased will depend on market conditions. All shares of
common stock purchased will be held as treasury shares and will be available for
use by OVBC pursuant to the terms of OVBC's Dividend Reinvestment and Stock
Purchase Plan as well as for other general corporate purposes.
James L. Dailey, chairman and chief executive officer, commented, "Our
shareholders purchased more than 40,000 shares of common stock in 1998 under the
Dividend Reinvestment Plan (DRIP) and another 26,000 shares already in 1999.
This authorization by our board will permit the purchase of shares, when
available, to meet the demand for DRIP shares." All purchases will be made by
OVBC prior to February 15, 2000, unless the program is extended by OVBC's Board
of Directors. On June 15, 1999, OVBC had 3,531,341 shares of common stock
outstanding.
Ohio Valley Banc Corp. operates three subsidiaries: Ohio Valley Bank, soon with
17 offices in Ohio and W.Va.; Loan Central, with four offices in Ohio; and
Jackson Savings Bank of Jackson, Ohio. Ohio Valley Banc Corp. stock is traded on
NASDAQ under the symbol OVBC.
