What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-05-15 compared with 2025-11-14 · 307 added, 322 removed, 734 unchanged (46% of the section changed)

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and per share data)

September 30,

Cash and noninterest-bearing deposits with banks

35 unchanged sentences

Three months ended

September 30,

Nine months ended

September 30,

Interest and dividend income:

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Net interest income

Provision for credit losses

Provision for (recovery of) credit losses

Net interest income after provision for credit losses

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Debit / credit card interchange income

Loss on sale of securities

Tax preparation fees

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Three months ended

September 30,

Nine months ended

September 30,

Other comprehensive income (loss):

Change in unrealized gain (loss) on available for sale securities

Reclassification adjustment for realized losses on available for sale securities

Related tax (expense) benefit

Total other comprehensive income (loss), net of tax

Total comprehensive income (loss)

Change in unrealized (loss) gain on available for sale securities

Related tax benefit (expense)

Total other comprehensive (loss) income, net of tax

Total comprehensive income

See accompanying notes to consolidated financial statements

7 unchanged sentences

Shareholders'

Balance at July 1, 2025

Other comprehensive income, net

Cash dividends, $ 0.23 per share

Balance at September 30 , 2025

Balance at July 1, 2024

Other comprehensive income, net

Cash dividends, $ 0.22 per share

Balance at September 30 , 2024

Comprehensive

Income (Loss)

Shareholders’

Balance at January 1, 2026

Other comprehensive income, net

Other comprehensive income (loss), net

Cash dividends, $ 0.23 per share

Balance at September 30 , 2025

Balance at March 31, 2026

Balance at January 1, 2025

Other comprehensive income, net

Other comprehensive income (loss), net

Cash dividends, $ 0.22 per share

Common stock issued to ESOP, 20,542 shares

Shares acquired for treasury, 82,673 shares

Balance at September 30 , 2024

Balance at March 31 , 2025

See accompanying notes to consolidated financial statements

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(dollars in thousands)

Nine months ended

September 30,

Three months ended

Net cash provided by operating activities

Investing activities:

Proceeds from sales of securities available for sale

Proceeds from maturities and paydowns of securities available for sale

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Proceeds from calls and maturities of securities held to maturity

Purchases of restricted investments in bank stocks

Redemptions of restricted investments in bank stocks

Net increase in loans

Net change in loans

Purchases of premises and equipment

Purchases of bank owned life insurance and annuity assets

Withdrawals from bank owned life insurance and annuity asset

Net cash (used in) investing activities

Net cash (used in) provided by investing activities

Financing activities:

Net increase in deposits

Change in deposits

Cash dividends

Purchases of treasury stock

Repayment of Federal Home Loan Bank borrowings

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Cash paid for interest

Cash paid for income taxes

Operating lease liability arising from obtaining right-of-use asset

Proceeds from bank owned life insurance and annuity assets not settled

See accompanying notes to consolidated financial statements

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These interim financial statements are prepared by the Company without audit and reflect all adjustments of a normal recurring nature which, in the opinion

of management, are necessary to present fairly the consolidated financial position of the Company at September 30, 2025, and its results of operations and cash flows for the periods presented.

The results of operations for the three and nine months

ended September 30, 2025, are not necessarily indicative of the operating results to be anticipated for the full fiscal year ending December 31, 2025.

The accompanying consolidated financial statements do not purport to contain all the necessary

financial disclosures required by U.S.

of management, are necessary to present fairly the consolidated financial position of the Company at March 31, 2026, and its results of operations and cash flows for the periods presented.

The results of operations for the three months ended March 31,

2026 are not necessarily indicative of the operating results to be anticipated for the full fiscal year ending December 31, 2026.

The accompanying consolidated financial statements do not purport to contain all the necessary financial disclosures

required by U.S.

generally accepted accounting principles (“US GAAP”) that might otherwise be necessary in the circumstances.

The Annual Report of the Company for the year ended December 31, 2024, filed with the SEC on March 14,

2025 (the “2024 Annual Report”), contains consolidated financial statements and related notes which should be read in conjunction with the accompanying consolidated financial statements.

The consolidated financial statements for 2024 have been reclassified to conform to the presentation for 2025.

These reclassifications had no effect on net

income or shareholders’ equity.

The Annual Report of the Company for the year ended December 31, 2025, filed with the SEC on March 13, 2026 (the “2025 Annual

Report”), contains consolidated financial statements and related notes which should be read in conjunction with the accompanying consolidated financial statements.

USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL

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Segment assets represent total assets on our Consolidated Balance Sheets and segment net income represents net income on our Consolidated Statements of Income..

NEW ACCOUNTING PRONOUNCEMENTS PENDING ADOPTION:

In December 2023, the FASB issued Accounting Standards Update (“ASU”) No.

2023 - 09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures .

The updated accounting guidance requires enhanced income tax disclosures, including the disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid.

This ASU is effective for annual periods beginning after

December 15, 2024, with early adoption permitted.

The Company is evaluating the effect the updated guidance will have on its consolidated financial statements and related disclosures.

In November 2024 , the FASB issued

NEW ACCOUNTING PRONOUNCEMENTS PENDING

In November 2024 , the FASB issued Accounting Standards Update (“ASU”) No.

2024 - 03, Disaggregation of Income Statement Expenses .

ASU 2024-03 requires

additional disclosure of the nature of expenses included in the income statement to be presented in a tabular format in the footnotes to the financial statements.

ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and

interim periods within fiscal years beginning after December 15, 2027.

ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement to be presented in a tabular format in the footnotes to the financial statements.

ASU 2024-03 is effective for annual periods beginning after

December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027.

The amendments in ASU 2024-03 should be applied on a prospective basis, although retrospective application is permitted.

The Company is evaluating the effect the updated guidance

will have on its consolidated financial statements and related disclosures.

The Company is currently

evaluating the impact of adopting ASU 2024-03 on its consolidated financial statements.

In November 2025, the FASB issued ASU No.

2025‑08, Financial Instruments—Credit Losses (Topic 326):

Purchased Loans .

This update amends the guidance in Accounting Standards Codification (“ASC”) Topic 326

to improve the accounting for acquired loans.

The amendments expand the population of acquired financial assets subject to the “gross-up” approach to include certain loans acquired without evidence of significant credit deterioration that meet the

definition of “purchased seasoned loans.” Under this approach, an allowance for expected credit losses is recognized at the acquisition date as an adjustment to the amortized cost basis of the asset, rather than through credit loss expense.

amendments are intended to improve comparability and better reflect the economics of acquired loans by eliminating the recognition of a Day 1 credit loss expense for such assets.

The amendments are effective for annual reporting periods beginning after

December 15, 2026, including interim periods within those annual periods, and should be applied prospectively to loans acquired after the adoption date.

Early adoption is permitted.

The Company is currently evaluating the impact of adopting ASU 2025-08

on its consolidated financial statements.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2025, the FASB issued ASU No.

Interim Reporting (Topic 270):

Narrow-Scope Improvements .

This update amends the guidance in ASC Topic 270 to improve the clarity and usability of interim reporting requirements.

The amendments are intended to enhance the navigability of

interim disclosure requirements and clarify the applicability of Topic 270.

The ASU provides a comprehensive list of disclosures required in interim periods under US GAAP and introduces a disclosure principle requiring entities to disclose events and

changes that occur after the end of the most recent annual reporting period that have a material impact on the entity.

The amendments also clarify the form and content of interim financial statements.

The guidance is not intended to change the

fundamental nature of interim reporting or significantly expand or reduce existing disclosure requirements.

The amendments are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public

business entities, and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for all other entities.

Early adoption is permitted.

The Company is currently evaluating the impact of adopting ASU 2025‑11 on its

consolidated financial statements.

In December 2025, the FASB issued ASU No.

2025‑12, Codification Improvements .

This update is part of the FASB’s ongoing project to make incremental improvements to US GAAP and includes amendments to

correct errors, clarify guidance, and improve consistency across various topics within the ASC.

The amendments in ASU 2025‑12 affect multiple areas of US GAAP, including, but not limited to, earnings per share, lease accounting, transfers and

servicing, and equity method investments.

The changes are generally intended to enhance the clarity and operability of existing guidance and are not expected to have a significant impact on accounting practice for most entities.

The amendments are

effective for annual reporting periods beginning after December 15, 2026, and interim periods within those annual periods.

Early adoption is permitted.

The Company is currently evaluating the impact of adopting ASU 2025‑12 on its consolidated

financial statements.

DEBT SECURITIES:

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uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

Accrued interest receivable on

AFS debt securities totaled $ 1,114 at September 30, 2025 and $ 1,294 at December 31, 2024, and is excluded from the estimate of credit losses.

Management made the accounting policy election to exclude accrued interest receivable from the estimate of credit losses.

Accrued interest receivable on AFS debt securities totaled $ 917

at March 31, 2026 and $ 1,330 at December 31, 2025.

Management classifies the AFS portfolio into the following major security types:

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securities, and Agency mortgage-backed residential securities.

At September 30, 2025 and at December 31, 2024, there was no ACL related to

AFS debt securities.

At March 31, 2026 and December 31, 2025, there was no ACL related to AFS debt

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

ACL - HTM SECURITIES:

Management measures expected credit

losses on HTM debt securities on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable

Management measures expected credit losses

on HTM debt securities on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts.

The ACL on securities HTM is a contra asset valuation account that is deducted from the carrying amount of HTM securities to present the net amount expected to be collected.

HTM securities are charged off against the ACL when deemed

uncollectible.

HTM securities are charged off against the ACL when deemed uncollectible.

Adjustments to the ACL are reported in the Company’s consolidated statements of income in the provision for credit losses.

Accrued interest receivable on HTM securities is excluded from the estimate of credit losses.

classifies the HTM portfolio into one major security type:

Obligations of states and political subdivisions.

With regard to obligations of states and political subdivisions, management considers (1) issuer bond ratings, (2) historical loss rates for

given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities.

At September 30, 2025, the ACL related to HTM debt securities

was $ 1 , unchanged from December 31, 2024.

Furthermore, there was no corresponding provision expense during the three and nine months ended September 30, 2025 and 2024.

Accrued interest receivable on

HTM debt securities totaled $ 55 at September 30, 2025 and $ 24 at December 31, 2024, and is excluded from the estimate of credit losses.

Management classifies the HTM portfolio into two major security types:

Obligations of states and political subdivisions and

Agency mortgage-backed residential securities.

Agency mortgage-backed residential securities consist of only two securities with balances that are not significant.

With regard to obligations of states and political subdivisions, management considers

(1) issuer bond ratings, (2) historical loss rates for given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities.

31 , 2026, the ACL related to HTM debt securities was $ 1 , unchanged from December 31, 2025.

Furthermore, there was no corresponding provision expense during the three months ended March 31 , 2026 and 2025.

Management made the accounting policy election to exclude accrued interest receivable from the estimate of credit losses.

Accrued interest receivable on HTM debt securities totaled $ 37

at March 31, 2026 and $ 13 at December 31, 2025.

Loans that management has the intent and ability to hold for the foreseeable

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The amount of the Company’s recorded investment is not materially different than the amount of unpaid principal balance

Interest income is discontinued and the loan moved to nonaccrual status when full loan repayment is in doubt, typically when the loan

Interest income is discontinued and the loan moved to non-accrual status when full loan repayment is in doubt, typically when the loan

payments are past due 90 days or over unless the loan is well-secured or in process of collection.

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collection of principal or interest is considered doubtful.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

All interest accrued but not received for loans placed on nonaccrual is reversed against interest income.

Interest received on such loans is accounted for on the

cash-basis method until qualifying for return to accrual.

Interest received on such loans is

accounted for on the cash-basis method until qualifying for return to accrual.

Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The Bank also originates long-term, fixed-rate mortgage loans, with the full intention of being sold to the secondary market.

are considered held for sale during the period of time after the principal has been advanced to the borrower by the Bank, but before the Bank has been reimbursed by the Federal Home Loan Mortgage Corporation, typically within a few business days.

Loans sold to the secondary market are carried at the lower of aggregate cost or fair value.

As of September 30, 2025 and December 31, 2024, there were no

These loans are

considered held for sale during the period of time after the principal has been advanced to the borrower by the Bank, but before the Bank has been reimbursed by the Federal Home Loan Mortgage Corporation, typically within a few business days.

sold to the secondary market are carried at the lower of aggregate cost or fair value.

As of March 31, 2026 and December 31, 2025, there were no

loans held for sale by the Bank.

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similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The ACL is measured on a collective (pool) basis when similar risk characteristics exist.

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Our reasonable and supportable

forecast adjustment is based on the national unemployment rate and the national gross domestic product forecast for the first year.

For periods beyond our reasonable and supportable forecast, we revert to historical loss rates utilizing a straight-line

method over a two-year reversion period.

The qualitative adjustments for current conditions are based upon changes in lending policies and

practices, experience and ability of lending staff, quality of the Company’s loan review system, value of underlying collateral, the volume and severity of past due loans, the value of underlying collateral for collateral dependent loans, the existence

of and changes in concentrations and other external factors.

Each factor is assigned a value to reflect improving, stable, or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation.

forecast adjustment, referred to above as “Loss Driver”, is based on the national unemployment rate and the national gross domestic product forecast for the first year.

For periods beyond our reasonable and supportable forecast, we revert to historical

loss rates utilizing a straight-line method over a two-year reversion period.

The qualitative adjustments for current conditions are based upon

changes in lending policies and practices, experience and ability of lending staff, quality of the Company’s loan review system, value of underlying collateral, the volume and severity of past due loans, the value of underlying collateral for

collateral dependent loans, the existence of and changes in concentrations and other external factors.

Each factor is assigned a value to reflect improving, stable, or declining conditions based on management’s best judgment using relevant information

available at the time of the evaluation.

Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate.

The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies:

management has a reasonable expectation at the reporting date that a modification will be executed with an individual borrower, or the extension of renewal options are included in the original or modified contract at the reporting date and are not

unconditionally cancellable by the Company.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The contractual term excludes expected extensions, renewals, and modifications

unless either of the following applies:

contract at the reporting date and are not unconditionally cancellable by the Company.

The Company has elected to exclude accrued interest receivable from the measurement of its ACL.

When a loan is placed on nonaccrual status, any outstanding accrued

interest is reversed against interest income.

Accrued interest receivable

on loans totaled $ 4,401 at March 31, 2026 and $ 4,111

at December 31, 2025.

When a loan is placed on nonaccrual status, any outstanding accrued interest is reversed against interest income.

Loans that do not share risk characteristics are evaluated on an individual basis.

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is taken if the fair value of the loan is less than the loan balance.

Accrued interest receivable on

loans totaled $ 4,214 at September 30, 2025 and $ 3,429

at December 31, 2024, and is excluded from the estimate of credit losses.

At March 31, 2026, there was $ 12,943

in the ACL related to loans, compared to $ 11,519 at December 31, 2025.

This resulted in corresponding provision expense of $ 1,702 during the three months ended March 31, 2026, compared to $ 476 during the three months ended March 31, 2025.

The Company’s loan portfolio segments have been identified as follows:

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Estate, and Consumer.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Commercial and industrial:

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current market conditions for their product or service.

A nonowner-occupied loan is a property loan for which the repayment of principal is dependent upon rental income associated with the property or the subsequent sale of the

A nonowner-occupied loan is a property loan for which the repayment of principal is dependent upon rental income associated with the property or the subsequent sale of the property.

Nonowner-occupied loans that are dependent upon rental income are primarily impacted by the level of interest rates associated with the debt and to local economic conditions, which dictate occupancy rates and the amount of rent charged.

increase in debt service due to higher interest rates may not be able to be passed on to tenants.

As part of the origination process, loan interest rates and occupancy rates are stressed to determine the impact on the borrower’s ability to maintain

adequate debt service under different economic conditions.

The increase in

debt service due to higher interest rates may not be able to be passed on to tenants.

As part of the origination process, loan interest rates and occupancy rates are stressed to determine the impact on the borrower’s ability to maintain adequate debt

service under different economic conditions.

Furthermore, the Company monitors the concentration in any one industry and has established limits relative to capital.

In addition, credit quality trends are monitored by industry to determine

if a change in the risk exposure to a certain industry may warrant a change in our underwriting standards.

In addition, credit quality trends are monitored by industry to determine if a change

in the risk exposure to a certain industry may warrant a change in our underwriting standards.

Commercial construction loans consist of borrowings to purchase and develop raw land into 1-4 family residential properties.

Construction loans

are extended to individuals as well as corporations for the construction of an individual or multiple properties and are secured by raw land and the subsequent improvements.

Repayment of the loans to real estate developers is dependent upon the sale

of properties to third parties in a timely fashion upon completion.

Construction loans are extended

to individuals as well as corporations for the construction of an individual or multiple properties and are secured by raw land and the subsequent improvements.

Repayment of the loans to real estate developers is dependent upon the sale of properties

to third parties in a timely fashion upon completion.

Should there be delays in construction or a downturn in the market for those properties, there may be significant erosion in value that may be absorbed by the Company.

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The risk of loss on consumer loans is elevated as the collateral securing these loans, if any, rapidly depreciate in value or may be worthless and/or difficult to locate if repossession is necessary.

Company has allocated the highest percentage of its ACL as a percentage of loans to the other identified loan portfolio segments due to the larger dollar balances associated with such portfolios.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

ACL – OFF-BALANCE SHEET CREDIT EXPOSURES:

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The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated

At March 31, 2026, there was $ 791 in the ACL related to off-balance sheet credit exposures, compared to $ 871 at December 31, 2025.

This resulted in corresponding provision expense recoveries of $ 80 and $ 60 during the three months ended March 31, 2026 and 2025,

respectively.

EARNINGS PER SHARE:

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divided by the weighted average number of common shares outstanding during the quarter.

The weighted average common shares outstanding were 4,711,001

for both the three months ended September 30, 2025 and 2024, respectively.

The weighted average common shares outstanding were 4,711,001 and 4,745,489 for the nine months

ended September 30, 2025 and 2024, respectively.

Ohio Valley had no dilutive effect and no potential common shares issuable under stock

options or other agreements for any period presented.

The weighted average common shares outstanding were 4,711,001 for both the three months ended March 31 , 2026 and 2025.

Valley had no dilutive effect and no potential common shares issuable under stock options or other agreements for any period presented.

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS

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Quoted prices (unadjusted)

for identical assets or liabilities in active markets that the reporting entity has the ability to access as of the measurement date.

for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

Significant other observable

inputs other than Level 1 quoted prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Significant unobservable

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Individually Evaluated Collateral Dependent

The fair value of individually evaluated collateral dependent loans with specific allocations of the ACL is generally based on the fair value of collateral, less costs to sell, based on recent real estate appraisals.

These appraisals

may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach.

Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the

comparable sales and income data available.

Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value.

Non-real estate collateral may be valued using an appraisal, net book value

per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and

client’s business, resulting in a Level 3 fair value classification.

In some instances, fair value adjustments can be made based on a quoted price from an observable input,

such as a purchase agreement.

The fair value of individually evaluated collateral dependent loans is generally based on the fair value of collateral, less costs to sell.

When carried at fair value, individually evaluated collateral dependent loans generally receive

specific allocations of the ACL.

For collateral dependent loans, fair value is commonly based on recent real estate appraisals.

These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the

income approach.

Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available.

Such adjustments are usually significant and typically result in a

Level 3 classification of the inputs for determining fair value.

Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s

historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification.

In some instances, fair value adjustments can be made based on a quoted price from an observable input, such as a purchase agreement.

Such adjustments would be classified as a Level 2 classification.

I ndividually evaluated collateral dependent loans are

evaluated on a quarterly basis for additional impairment and adjusted accordingly.

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

Other Real Estate Owned ("OREO"):

Assets acquired

through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis.

These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell.

value is commonly based on recent real estate appraisals.

I ndividually evaluated collateral dependent loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly.

Other Real Estate Owned:

acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis.

These assets are subsequently accounted for at the lower of cost or fair value less estimated costs to

Fair value is commonly based on recent real estate appraisals.

These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach.

Adjustments are routinely made in the appraisal

process by the independent appraisers to adjust for differences between the comparable sales and income data available.

Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value.

Adjustments are routinely made in the

appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available.

Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining

In some instances, fair value adjustments can be made based on a quoted price from an observable input, such as a purchase agreement.

Such adjustments would be classified as a Level 2 classification.

Appraisals for collateral securing both individually evaluated collateral dependent loans and OREO owned are performed by certified general

appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company.

Once received, a member of management reviews the assumptions and

approaches utilized in the appraisal as well as the overall resulting fair value in comparison with management’s own assumptions of fair value based on factors that include recent market data or industry-wide statistics.

Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties)

or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company.

Once received, a member of management reviews the assumptions and approaches utilized in the appraisal as

well as the overall resulting fair value in comparison with management’s own assumptions of fair value based on factors that include recent market data or industry-wide statistics.

On an as-needed basis, the Company reviews the fair value of collateral, taking into consideration current market data, as well as all

selling costs, which typically amount to approximately 10 %.

selling costs that typically approximate 10 %.

Interest Rate Swap Agreements:

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receipts (or payments) are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves (Level 2).

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

Assets and Liabilities Measured on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

Fair Value Measurements at September 30, 2025 Using

Fair Value Measurements at March 31,

Quoted Prices in Active

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Interest rate swap derivatives

Fair Value Measurements at December 31, 2024 Using

Fair Value Measurements at December 31,

Quoted Prices in Active

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Interest rate swap derivatives

Liabilities :

Interest rate swap derivatives

There were no transfers into or out of Level 3 during the periods ended September 30, 2025 or 2024.

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

There were no transfers into or out of Level 3 during the periods ended March 31, 2026 or 2025.

Assets and Liabilities Measured on a Nonrecurring Basis

There were no assets or

liabilities measured at fair value on a nonrecurring basis at September 30, 2025 or December 31, 2024.

The carrying amounts and estimated fair values of financial instruments at September 30, 2025 and December 31, 2024 are as follows:

Fair Value Measurements at September 30, 2025 Using

There were no

assets or liabilities measured at fair value on a nonrecurring basis at December 31, 2025.

Assets or liabilities measured at fair value on a nonrecurring basis at March 31, 2026 are summarized below:

Fair Value Measurements at March 31, 2026 Using

Quoted Prices in Active

Markets for Identical Assets

Significant Other

Observable Inputs

Unobservable Inputs

Individually evaluated collateral dependent loans:

Commercial real estate:

Owner-occupied

Nonowner-occupied

At March 31, 2026, the recorded investment of individually evaluated collateral dependent loans measured for impairment using the fair value

of collateral totaled $ 10,869 , with a corresponding valuation allowance of $ 2,031 , resulting in an increase of $ 2,031 in provision expense during the

three months ended March 31, 2026, with no corresponding charge-offs recognized.

This is compared to no impact to provision expense during the three months ended March 31, 2025.

NOTE 2 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued)

There were no financial

instruments measured at fair value on a non-recurring basis at December 31, 2025.

The following table presents quantitative information about Level 3 fair value measurements for financial instruments

measured at fair value on a non-recurring basis at March 31, 2026:

Weighted Average

Individually evaluated collateral dependent loans:

Commercial real estate loans:

Owner-occupied

Sales approach

Adjustment to comparables

0 % to 0.21 %

Nonowner-occupied

Income approach

Capitalization rate

The carrying amounts and estimated fair values of financial instruments at March 31, 2026 and December 31, 2025 are as follows:

Fair Value Measurements at March 31,

Financial Assets:

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Accrued interest payable

Fair Value Measurements at December 31, 2024 Using

Fair Value Measurements at December 31,

Financial Assets:

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NOTE 3 – SECURITIES

The following table summarizes the amortized cost and fair value of securities AFS and securities HTM at September 30, 2025 and December 31, 2024, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross

unrecognized gains and losses:

The following table summarizes the amortized cost and fair value of securities AFS and securities HTM at March 31, 2026 and December 31, 2025 and the corresponding

amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses:

Securities Available for Sale

1 unchanged sentence

Gross Unrealized

September 30 , 2025

March 31 , 2026

Government securities

11 unchanged sentences

Allowance for Credit Losses

September 30 , 2025

March 31 , 2026

Obligations of states and political subdivisions

3 unchanged sentences

Total securities

The amortized cost and estimated fair value of debt securities at September 30, 2025, by contractual maturity, are shown below.

The amortized cost and estimated fair value of debt securities at March 31, 2026, by contractual maturity, are shown below.

maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities.

9 unchanged sentences

Total debt securities

During the three and nine months ended September 30, 2025,

proceeds from the sale of debt securities totaled $ 9,808

with gross losses of $ 1,219 recognized.

There were no sales of securities during the three and nine months ended September 30,

Debt securities with a carrying value of approximately $ 206,502 at September 30, 2025 and $ 223,484 at December 31, 2024 , were pledged to secure public deposits, repurchase agreements, and for other purposes required or permitted by law.

There were no sales of securities during the

three months ended March 31, 2026 and 2025.

Debt securities with a carrying value of approximately $ 176,175 at March 31, 2026 and $ 195,245 at December 31, 2025, respectively, were pledged to secure public deposits, repurchase agreements, and for other purposes required or permitted by law.

NOTE 3 – SECURITIES (Continued)

The following table summarizes debt securities AFS in an unrealized loss position for which an ACL has not been recorded at September 30, 2025 and December 31, 2024,

aggregated by major security type and length of time in a continuous unrealized loss position:

September 30 , 2025

The following table summarizes debt securities AFS in an unrealized loss position for which an ACL losses has not been recorded at March 31, 2026 and December 31, 2025, aggregated by major security

type and length of time in a continuous unrealized loss position:

March 31 , 2026

Less Than 12 Months

12 Months or More

Unrealized Loss

Securities Available for Sale

Government securities

Government sponsored entity securities

Agency mortgage-backed securities,

Government sponsored entity

Agency mortgage-backed

securities, residential

Total available for sale

2 unchanged sentences

12 Months or More

Unrealized Loss

Securities Available for Sale

Government securities

U.S Government sponsored entity securities

Agency mortgage-backed securities,

Government sponsored entity

Agency mortgage-backed securities, residential

Total available for sale

3 unchanged sentences

for any anticipated recovery in fair value.

At September 30, 2025, the

Company had 84 AFS debt securities in an unrealized position without an ACL, of which 5 were from U.S.

At March 31, 2026, the Company had 64 AFS debt securities in an unrealized position without an ACL, of which 7 were from U.S.

Government securities, 2 were from U.S.

sponsored entity securities, and 76 were from Agency mortgage-backed residential securities.

Management does not have the intent to sell any of

these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost.

The fair value is expected to recover as the securities approach their maturity date or repricing date

or if market yields for such investments decline.

Accordingly, as of September 30, 2025, management believes that the unrealized losses

detailed in the previous table are due to noncredit-related factors, including changes in interest rates and other market conditions and, therefore, the Company carried no ACL on AFS debt securities at September 30, 2025.

Government sponsored entity securities, and 55 were from Agency mortgage-backed residential securities.

Comparatively at December 31, 2025, the Company had 53 AFS debt

securities in an unrealized position without an ACL, of which 3 were from U.S.

Government securities, 2 were from U.S.

Government sponsored entity securities, and 48 were from Agency mortgage-backed residential securities.

Management does not

have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost.

The fair value is expected to recover as the securities approach their

maturity date or repricing date or if market yields for such investments decline.

Accordingly, as of March 31, 2026 and December 31, 2025,

management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, including changes in interest rates and other market conditions, and, therefore, the Company carried no ACL on AFS debt securities at

March 31, 2026 and December 31, 2025.

NOTE 3 – SECURITIES (Continued)

1 unchanged sentence

Held to Maturity Debt Securities

Nine months ended

September 30, 2025

Nine months ended

September 30, 2024

Three months ended

March 31, 2026

Three months ended

March 31, 2025

Allowance for credit losses:

7 unchanged sentences

required within the portfolio.

At September 30, 2025, there were no past due principal and interest payments related to HTM securities.

the third quarter of 2025, the cumulative loss rate remained at 0.02 %, resulting in no change to provision expense during the three and nine months ended September 30, 2025.

During the third quarter of 2024, the cumulative loss rate remained at 0.02 %, resulting in no change to provision expense during the three and nine months ended September 30, 2024.

At March 31, 2026, there were no past due principal and interest payments related to HTM securities.

first quarter of 2026 and 2025, the cumulative loss rate remained at 0.02 %, resulting in no change to provision expense during the three months ended March 31, 2026

NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES

Loans are comprised of the following:

September 30,

Residential real estate

4 unchanged sentences

Allowance for credit losses

At September 30, 2025 , net deferred loan origination fees were $ 235 .

At December 31, 2024, net deferred loan origination costs were $ 363 .

At September 30, 2025 net unaccreted loan purchase discounts were $ 1,616 .

At December 31, 2024 net unamortized loan purchase premiums were $ 398 .

NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES (Continued)

At March 31, 2026 and December 31, 2025 , net deferred loan origination fees were $ 474 and $ 357 , respectively.

At March 31, 2026 and December 31, 2025 , net unamortized loan purchase discounts were $ 869 and $ 833 , respectively.

NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES

The following table presents the recorded investment of nonaccrual loans and

loans past due 90 days or more and still accruing by class of loans as of September 30, 2025 and December 31, 2024:

September 30 , 2025

loans past due 90 days or more and still accruing by class of loans as of March 31, 2026 and December 31, 2025:

March 31 , 2026

Loans Past Due

17 unchanged sentences

Commercial and industrial

The Company recognized $ 10 and $ 56 of interest income in nonaccrual loans during the three and nine months ended September 30, 2025, respectively.

This is compared to $ 50 and $ 69 of interest income in nonaccrual loans

during the three and nine months ended September 30, 2024, respectively.

The Company recognized $ 8 and $ 18 of interest income in nonaccrual loans during the three months ended March 31, 2026 and 2025, respectively.

NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES (Continued)

The following table presents the aging of the recorded investment of past due loans by class of loans as of September 30, 2025 and December 31, 2024:

September 30 , 2025

The following table presents the aging of the recorded investment of past due loans by class of loans as of March 31, 2026 and December 31, 2025:

March 31 , 2026

Residential real estate

54 unchanged sentences

Amounts classified as loss should be promptly charged off.

As of September 30, 2025 and December 31, 2024, and based on the most recent analysis performed, the risk category of commercial loans by class of loans was as follows:

As of March 31, 2026 and December 31, 2025, and based on the most recent analysis performed, the risk category of commercial loans by class of loans was as follows:

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Commercial real estate:

4 unchanged sentences

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Commercial real estate:

3 unchanged sentences

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Commercial real estate:

2 unchanged sentences

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Commercial and Industrial

25 unchanged sentences

Current Period gross charge-offs

The Company considers the performance of the loan portfolio and its impact on the ACL.

For residential and consumer loan

classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity.

The following table presents the recorded investment of residential and consumer loans by class of loans based

on repayment activity as of September 30, 2025

and December 31, 2024:

The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses.

For residential and

consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity.

The following table presents the recorded investment of residential and consumer loans by class

of loans based on repayment activity as of March 31, 2026 and December 31, 2025:

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Residential Real Estate

3 unchanged sentences

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Payment Performance

3 unchanged sentences

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Payment Performance

2 unchanged sentences

Term Loans Amortized Cost Basis by Origination Year

September 30 , 2025

March 31, 2026

Payment Performance

25 unchanged sentences

as the western counties of West Virginia.

Approximately 3.65 % of total loans were unsecured at September 30, 2025, down from 4.16 % at December 31, 2024.

N OTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES (Continued)

Approximately 3.68 % of total loans were unsecured at March 31, 2026, down from 3.73 % at December 31, 2025.

Modifications to Borrowers Experiencing Financial Difficulty:

7 unchanged sentences

or short-term interest-only payment terms.

All modifications to borrowers experiencing financial difficulty are considered to be impaired.

During the three and nine months ended September 30, 2025 and

2024, the Company experienced no new modifications to borrowers experiencing financial difficulty.

The following table presents the activity in the ACL by portfolio segment for the three months ended September 30, 2025 and 2024:

September 30 , 2025

and Industrial

Allowance for credit losses:

Beginning balance

Provision for credit losses

Loans charged-off

Total ending allowance balance

September 30 , 2024

and Industrial

Allowance for credit losses:

Beginning balance

Provision for credit losses

Loans charged-off

Total ending allowance balance

The following table presents the activity in the ACL by portfolio segment for the nine months ended September 30, 2025 and 2024:

September 30 , 2025

N OTE 4 – LOANS AND ALLOWANCE FOR CREDIT

LOSSES (Continued)

During the three months ended March 31, 2026

and 2025, the Company experienced no new modifications to borrowers experiencing financial difficulty.

The following table presents the activity in the allowance for credit losses by portfolio segment for the three

months ended March 31, 2026 and

March 31 , 2026

and Industrial

4 unchanged sentences

Total ending allowance balance

September 30 , 2024

March 31 , 2025

and Industrial

4 unchanged sentences

Total ending allowance balance

N OTE 4 – LOANS AND ALLOWANCE FOR CREDIT

LOSSES (Continued)

The following table presents the amortized cost basis of collateral dependent loans by class of loans as of September 30, 2025 and December 31, 2024:

The following table presents the amortized cost basis of collateral dependent loans by class of loans as of March 31, 2026 and December 31, 2025:

Collateral Type

September 30, 2025

March 31, 2026

Business Assets

5 unchanged sentences

Total collateral dependent loans

N OTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES (Continued)

Collateral Type

7 unchanged sentences

Total collateral dependent loans

The recorded investment of a loan excludes accrued interest and net deferred origination fees and costs due to immateriality.

investment of a loan excludes accrued interest and net deferred origination fees and costs due to immateriality.

Nonaccrual loans and loans past due 90 days or more and still accruing include both smaller balance homogenous loans that are collectively

evaluated for impairment and individually evaluated collateral dependent loans.

evaluated for impairment and individually classified as impaired loans.

The Company transfers loans to OREO, at fair value less cost to sell, in the period the Company obtains physical possession of the property

(through legal title or through a deed in lieu).

The Company had no OREO for residential real estate properties at September 30, 2025 and

December 31, 2024.

In addition, nonaccrual residential mortgage loans that are in the process of foreclosure had a recorded investment of $ 836

and $ 342 as of September 30, 2025

and December 31, 2024, respectively.

The Company had no OREO for residential real estate properties at March 31, 2026 and December 31, 2025.

addition, nonaccrual residential mortgage loans that are in the process of foreclosure had a recorded investment of $ 534 and $ 788 as of March 31, 2026 and December 31, 2025, respectively.

NOTE 5 – FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK

4 unchanged sentences

The contract amounts of these instruments are not included in the consolidated financial

At September 30, 2025,

At March 31, 2026,

the contract amounts of these instruments totaled approximately $ 232,139 , compared to $ 226,570 at December 31, 2025.

The Bank estimates expected credit losses over the contractual period in which the Bank is exposed to credit risk via a contractual obligation to extend credit.

At September 30, 2025, the estimated ACL related to off-balance sheet commitments was $ 817 , which included $ 180 and $ 235 in provision during the three and nine months ended September 30, 2025.

This is compared to $ 63 and $ 126 in

recoveries of provision during the three and nine months ended September 30, 2024, respectively.

The Bank uses the same credit policies in

making commitments and conditional obligations as it does for instruments recorded on the balance sheet.

Since many of these instruments are expected to expire without being drawn upon, the total contract amounts do not necessarily represent future

cash requirements.

At March 31, 2026, the estimated ACL related to off-balance sheet commitments was $ 791 , compared to $ 871 at December 31, 2025.

This includes an $ 80 recovery of provision expense during the three months ended March 31, 2026 compared to a $ 60 recovery in provision expense during the three months ended March 31, 2025.

The Bank uses the same credit policies in making commitments and conditional obligations as it does for instruments recorded on the

balance sheet.

Since many of these instruments are expected to expire without being drawn upon, the total contract amounts do not necessarily represent future cash requirements.

NOTE 6 - OTHER BORROWED FUNDS

Other borrowed funds at September 30, 2025 and December 31, 2024

are comprised of advances from the Federal Home Loan Bank (“FHLB”) of Cincinnati and promissory notes.

September 30 , 2025

Other borrowed funds at March 31,

2026 and December 31, 2025 are comprised of advances from the Federal Home Loan Bank (“FHLB”) of Cincinnati and promissory notes.

March 31 , 2026

December 31 , 2025

Pursuant to collateral agreements with the FHLB, advances are secured by $ 365,406 in qualifying mortgage loans, $ 36,416 in commercial loans and $ 2,866 in FHLB stock at September 30, 2025.

Pursuant to collateral agreements with the FHLB, advances are secured by $ 415,462 in qualifying mortgage loans, $ 33,766 in commercial loans and $ 3,118 in FHLB stock at March 31, 2026.

Fixed-rate FHLB advances of $ 40,893

mature through 2042 and have interest rates ranging from 1.53 % to 4.91 % and a year-to-date weighted average cost of 4.04 % at September 30, 2025 and 4.02 % at December 31, 2024.

mature through 2042 and have interest rates ranging from 1.53 % to 4.91 % and a year-to-date weighted average cost of 3.99 % at March 31, 2026 and 4.03 % at December 31, 2025.

There were no

variable-rate FHLB borrowings at September 30, 2025.

At September 30, 2025, the

Company had a cash management line of credit enabling it to borrow up to $ 100,000 from the FHLB, subject to the stock ownership and collateral

limitations described below.

variable-rate FHLB borrowings at March 31, 2026.

At March 31, 2026, the Company had a cash management line of credit enabling it to borrow up to $ 100,000 from the FHLB, subject to the stock ownership and collateral limitations described below.

All cash management advances have an original maturity of 90 days.

The line of credit must be renewed on an

annual basis.

There was $ 100,000 available on this line of credit at September 30, 2025.

The line of credit must be renewed on an annual basis.

There was $ 100,000 available on this line of credit at March 31, 2026.

Based on the Company’s current FHLB stock ownership, total assets and pledgeable loans, the Company had the ability to obtain borrowings from

the FHLB up to a maximum of $ 209,154 at September 30, 2025.

Of this maximum borrowing capacity, the Company had $ 116,143 available to use as additional borrowings, of which $ 116,143

could be used for short term, cash management advances, as mentioned above.

At September 30, 2025, the

Company had a federal funds line of credit with two correspondent banks totaling $ 25,000 .

the FHLB up to a maximum of $ 261,624 at March 31,

Of this maximum borrowing capacity, the Company had $ 172,606 available to use as additional borrowings, of which $ 172,606 could be used for short term, cash management

advances, as mentioned above.

At March 31, 2026, the Company

had a federal funds line of credit with two correspondent banks totaling $ 25,000 .

The lines of credit are not committed and are provided at the discretion of the correspondent bank.

2 unchanged sentences

due to be repaid the next business day.

At September 30, 2025, there was $ 25,000 available on these lines of credit.

Promissory notes, issued primarily by Ohio Valley, are due at various dates through a final maturity date of June 15, 2026 , and have fixed rates ranging from 4.25 %

to 4.60 % and a year-to-date weighted average cost of 4.59 % at September 30, 2025, as compared to 4.71 % at December 31, 2024.

At September 30, 2025, there were six promissory notes payable by Ohio

Valley to related parties totaling $ 2,588 .

There were no promissory notes payable to other banks at September 30, 2025 or December 31, 2024, respectively.

Letters of credit issued on the Bank’s behalf by the FHLB to collateralize certain public unit deposits as required by law totaled $ 59,575 at September 30, 2025 and $ 58,500 at December 31, 2024.

Scheduled principal payments as of September 30,

At March 31, 2026, there was $ 25,000 available on these lines of credit.

Promissory notes, issued primarily by Ohio Valley, are due at various dates through a final maturity date of March 11, 2027 , and have fixed rates ranging from 4.25 %

to 4.60 % and a year-to-date weighted average cost of 4.39 % at March 31, 2026, as compared to 4.49 % at December 31, 2025.

At March 31, 2026 and December 31, 2025, there were six promissory notes

payable by Ohio Valley to related parties totaling $ 2,636 .

There were no promissory notes payable to other banks at March 31, 2026 and December 31, 2025, respectively.

Letters of credit issued on the Bank’s behalf by the FHLB to collateralize certain public unit deposits as required by law totaled $ 48,125 at March 31, 2026 and $ 52,000 at December 31, 2025.

Scheduled principal payments as of March 31, 2026:

NOTE 7 – LEASES

2 unchanged sentences

Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet.

The lease expense for these leases are recorded on a straight-line basis over the lease term.

The lease expense for these leases is recorded on a straight-line basis over the lease term.

with initial terms in excess of 12 months are recorded as either operating or financing leases on the consolidated balance sheet.

The Company has no finance lease arrangements.

Operating leases have remaining lease terms ranging from 7 months to 15.8 years, some of which include

Operating leases have remaining lease terms ranging from 1 month to 15.3 years, some of which include

options to extend the leases for up to 15 years .

3 unchanged sentences

Balance sheet information related to leases is as follows:

September 30, 2025

December 31, 2024

Operating leases:

1 unchanged sentence

Operating lease liabilities

The components of lease cost are as follows:

The components of lease cost were as follows:

Three months ended

September 30,

Nine Months Ended

September 30,

Operating lease cost

Short-term lease expense

Future undiscounted lease payments for operating leases with initial terms of one year or more as of September 30, 2025 are as follows:

Operating Leases

Future undiscounted lease payments for operating leases with initial terms of one year or more as of March 31, 2026 are as follows:

Total lease payments

1 unchanged sentence

Total operating leases

Other information is as follows:

September 30, 2025

December 31, 2024

Other information was as follows:

Weighted-average remaining lease term for operating leases

10 unchanged sentences

Deposits are comprised of the following:

September 30,

Noninterest-bearing deposits

6 unchanged sentences

Brokered deposits, included in time deposits, were $ 68,957

and $ 48,395 at September 30, 2025

and December 31, 2024, respectively.

and $ 61,464 at March 31, 2026 and December 31, 2025, respectively.

NOTE 10 – REVENUE FROM CONTRACTS WITH CUSTOMERS

15 unchanged sentences

Since the Bank acts as a sub servicer in the tax process relationship, a portion of the fee collected is passed on to the tax refund processor.

The tax refund clearing agreement, and associated revenue recognized, ended

• Debit/credit card interchange income – This includes

10 unchanged sentences

used to repay the TAL and Loan Central’s tax preparation fees, then the remainder of the refund is remitted to Loan Central’s tax customer.

• Float income from tax product processor – This is

associated with the tax refund clearing agreement between the Bank and a third -party tax refund processor.

The revenue earned is based on the estimated compensating

balances associated with processing the contractual minimum number of check items multiplied by the interest rate paid by the Federal Reserve on reserves for the respective period.

The float income is paid by the tax refund product processor at the

end of each year of the tax agreement, which is to expire in 2025 .

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements