OHIO VALLEY BANC CORP
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 14, 2025
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EX-13 · PROVISION FOR INCOME TAXES
PROVISION FOR INCOME TAXES
The provision for income taxes during 2024 totaled $2,377, compared to $2,567 in 2023. The effective tax rate for 2024 was 17.8%, compared to 16.9% in 2023. The effective tax rate for 2023 was below 2024’s effective tax rate as a result of a lump sum adjustment that reduced costs associated with certain nondeductible retirement benefit plans during 2023, which lowered tax expense.
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