Item 2. Properties
ITEM 2 - PROPERTIES
The principal executive offices of Ohio Valley and the Bank are located at 420 Third Avenue, Gallipolis, Ohio. The Bank owns twelve financial service centers located in Gallipolis and Rio Grande
(Gallia Co.), Jackson, Oak Hill and Wellston (Jackson Co.), and Waverly (Pike Co.) in Ohio; and Point Pleasant and Mason (Mason Co.), and Milton and Barboursville (Cabell Co.) in West Virginia. The Bank leases three additional financial service
centers located in Gallipolis (Gallia Co.) and Athens (Athens Co.) in Ohio. The Bank also owns and operates thirty-five ATMs, including twenty off-site ATMs. Furthermore, the Bank owns four facilities in Gallipolis (Gallia Co.), Ohio, which are used
for additional office space. The Bank also owns a facility in Gallipolis (Gallia Co.) in Ohio which is leased to a third party.
Loan Central conducts its consumer finance operations through six offices located in Gallipolis (Gallia Co.), Jackson (Jackson Co.), Waverly (Pike Co.), South Point (Lawrence Co.), Wheelersburg
(Scioto Co.) and Chillicothe (Ross Co.), all in Ohio. All of these facilities are leased by Loan Central, except for the Gallipolis (Gallia Co.), Jackson (Jackson Co.) and Wheelersburg (Scioto Co.) facilities. Loan Central leases a portion of its
Gallipolis (Gallia Co.) and Wheelersburg (Scioto Co.) facilities to third parties.
Management considers all of these properties to be satisfactory for the Company’s current operations. The Bank and Loan Centrals’ leased facilities are all subject to commercially standard leasing
arrangements.
Information concerning the value of the Company’s owned and leased real property and a summary of future lease payments is contained in “Note D – Premises and Equipment” and “Note E – Leases” of the
notes to the Company’s consoldiated financial statements for the fiscal year ended December 31, 2020, located in Ohio Valley’s 2020 Annual Report to Shareholders.
32
ITEM 3 – LEGAL PROCEEDINGS
From time to time, the Company may be involved in various claims and legal actions in the ordinary course of business. The Company is not currently involved in any material legal proceedings
outside the ordinary course of the Company’s business.
ITEM 4 – MINE SAFETY DISCLOSURES
Not applicable.
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.