Bryan F. Stepp
About Bryan F. Stepp
Bryan F. Stepp is Senior Vice President of Ohio Valley Banc Corp. and Executive Vice President, Lending/Credit of The Ohio Valley Bank Company, serving in this capacity since September 2020; he joined the Bank in 2008 and has held successive leadership roles across commercial lending and credit . Age 62 as of the 2025 proxy, his remit spans lending and credit risk oversight; OVBC’s incentive program ties executive bonuses to net income, average loans, efficiency ratio, and asset quality—metrics directly linked to his operating domain . OVBC’s recent performance shows mixed trends: 2024 net income declined 12.9% YoY while TSR improved 9.05%; EBITDA is not reported and OVBC does not use equity programs beyond the ESOP .
OVBC performance context (for alignment and payout levers)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($USD) | $13,338,000 | $12,631,000 | $10,999,000 |
| TSR – value of fixed $100 investment | $92.70 | $85.78 | $93.54 |
| Revenues ($USD) | $10,162,000 | $12,629,000* | $13,171,000* |
Values marked with * retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ohio Valley Banc Corp. | Senior Vice President | 2008–present | Corporate executive; oversight aligned to lending/credit functions |
| The Ohio Valley Bank Company | EVP, Lending/Credit | Sep 2020–present | Leads lending and credit oversight, a core driver of asset quality metrics used in bonuses |
| The Ohio Valley Bank Company | SVP, Chief Lending Officer | Dec 2014–Aug 2017; Jan 2018–Sep 2020 | Growth and portfolio management within commercial lending |
| The Ohio Valley Bank Company | SVP, Chief Credit Officer | Dec 2012–Dec 2014; Aug 2017–Jan 2018 | Credit risk governance and classification discipline |
| The Ohio Valley Bank Company | SVP, Corporate Banking WV | Jul 2010–Dec 2012 | Regional corporate banking leadership |
| The Ohio Valley Bank Company | SVP, Commercial Lending | Dec 2008–Jul 2010 | Commercial originations and portfolio |
| The Ohio Valley Bank Company | VP, Business Development Officer | Jun 2008–Dec 2008 | New business development |
| Race Day Mortgage, Inc. (Bank subsidiary) | Director and President | Apr 2021–Dec 31, 2023 | Led subsidiary until closing |
External Roles
No external public-company directorships or outside board roles were disclosed for Stepp in OVBC filings reviewed. Skip.
Fixed Compensation
- OVBC pays executives via subsidiaries; the Company itself does not directly pay executives .
- Compensation program components: base salary, cash bonus, retirement plans (deferred comp, SERPs for certain execs), and insurance; OVBC has no equity-based compensation plans other than the ESOP .
- Base salary philosophy targets market midpoints over time for “meets expectations” performers; merit progression is tied to performance appraisals and market benchmarking (Payfactors) .
Note: Individual base salary and bonus amounts for Stepp were not disclosed; NEO tables cover Wiseman, Miller, Shockey only .
Performance Compensation
OVBC’s annual bonus plan for executives is formula- and committee-driven, tied to enterprise performance and individual evaluations.
| Element | Metric | Weighting | Target | Actual | Payout Form | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | Net Income | Committee-set; varies | Not disclosed | Company result [table above] | % of base comp (grades ≥13) | N/A (cash) |
| Annual Cash Bonus | Average Loans | Committee-set; varies | Not disclosed | Not disclosed | % of base comp | N/A |
| Annual Cash Bonus | Efficiency Ratio | Committee-set; varies | Not disclosed | Not disclosed | % of base comp | N/A |
| Annual Cash Bonus | Asset Quality (adversely classified assets / Tier 1 + ACL) | Committee-set; varies | Not disclosed | Not disclosed | % of base comp | N/A |
- For 2024 bonus determinations, OVBC used net income, average loans, efficiency ratio, and asset quality; payouts for grades 13+ are typically a percent of base salary approved by the Board .
- Discretion: A bonus may be paid without targets having been established or achieved; awards are ultimately at Board discretion .
Equity Ownership & Alignment
- Equity awards: OVBC has never granted options to purchase common shares; there are no RSU/PSU programs—equity alignment occurs primarily through the ESOP .
- Executive hedging policy: Short sales, margin purchases, and puts/calls in OVBC stock are prohibited; certain hedging transactions are allowed only with pre-approval; quarterly blackout periods and pre-clearance apply, and Rule 10b5-1 trading plans are permitted with requirements .
- Director stock ownership guidelines exist (2,500-share minimum within five years), but no executive ownership guideline disclosure was provided; Stepp is not a director .
- Pledging: Beneficial ownership tables disclose pledging for certain individuals (e.g., Mr. Saunders), but no pledging was disclosed for Stepp; personal beneficial holdings for Stepp are not itemized in proxies (NEO/director tables only) .
Employment Terms
- No separate employment, severance, or change-in-control agreements for any executive officers; thus, no CIC multiples or separate severance terms for Stepp .
- Clawback policy: OVBC adopted a three-year recovery policy for erroneously awarded compensation to executive officers (including NEOs) to ensure payouts reflect accurate results .
- Retirement and insurance: Executives are eligible for a nonqualified Executive Deferred Compensation Plan; SERPs are maintained for Wiseman, Miller, and Shockey (not disclosed for Stepp); executive life insurance is maintained with a beneficiary payout linked to compensation levels .
Investment Implications
- Cash-heavy pay structure with no options/RSUs means limited forced-selling or vesting-related insider pressure; trading is governed by blackout/preclearance and 10b5-1 plans, reducing opportunistic trading risk .
- Incentive metrics (net income, loans, efficiency, asset quality) directly connect Stepp’s credit/lending remit with pay outcomes, supporting alignment around underwriting quality and portfolio efficiency; 2024 net income decline likely pressured bonus pools despite TSR improvement .
- Absence of individual CIC/severance arrangements for executives, including Stepp, reduces parachute cost risk and limits management protection in control events—neutral-to-positive for shareholders on governance cost containment .
- No executive equity plan beyond ESOP constrains equity-based long-term alignment; upside participation is lower versus peers with PSU/RSU programs, but it also curtails dilution and reduces option repricing risks (a red flag elsewhere) .
- Governance safeguards—insider trading restrictions, clawback, independent compensation oversight, and annual say-on-pay (79% approval in 2024)—point to acceptable pay governance; still, investors should monitor asset-quality outcomes as they are a key bonus determinant in Stepp’s area .
Sources: All facts and quoted policy elements from OVBC DEF 14A (2025 and 2024) and 8-K filings as cited above. Financial table values marked with * retrieved from S&P Global.