Note 15 - Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note O - Parent Company Only Condensed Financial Information

Below is condensed financial information of Ohio Valley. In this information, Ohio Valley’s investment in its subsidiaries is stated at cost plus equity in undistributed earnings of the subsidiaries since acquisition. This information should be read in conjunction with the consolidated financial statements of the Company.

CONDENSED STATEMENTS OF CONDITION

	Years ended December 31:
Assets	2012		2011
Cash and cash equivalents	$	1,700	$	1,462
Investment in subsidiaries		87,950		84,038
Notes receivable - subsidiaries		3,423		3,743
Other assets		310		406
Total assets	$	93,383	$	89,649
Liabilities
Notes payable	$	3,526	$	3,748
Subordinated debentures		13,500		13,500
Other liabilities		537		558
Total liabilities	$	17,563	$	17,806
Shareholders’ Equity
Total shareholders’ equity		75,820		71,843
Total liabilities and shareholders’ equity	$	93,383	$	89,649

CONDENSED STATEMENTS OF INCOME

	Years ended December 31:
Income:	2012		2011		2010
Interest on notes	$	114	$	134	$	158
Other operating income		84		65		68
Dividends from subsidiaries		4,500		3,500		4,500
Expenses:
Interest on notes		114		134		159
Interest on subordinated debentures		789		1,089		1,089
Operating expenses		364		287		538
Income before income taxes and equity in undistributed earnings of subsidiaries		3,431		2,189		2,940
Income tax benefit		355		439		522
Equity in undistributed earnings of subsidiaries		3,266		3,207		1,634
Net Income	$	7,052	$	5,835	$	5,096

CONDENSED STATEMENTS OF CASH FLOWS

	Years ended December 31:
Cash flows from operating activities:	2012			2011			2010
Net Income	$	7,052		$	5,835		$	5,096
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(3,266	)		(3,207	)		(1,634	)
Common stock issued to ESOP		617			496			315
Change in other assets		96			(92	)		(12	)
Change in other liabilities		(21	)		105			64
Net cash provided by operating activities		4,478			3,137			3,829
Cash flows from investing activities:
Change in notes receivable		320			85			402
Net cash provided by investing activities		320			85			402
Cash flows from financing activities:
Change in notes payable		(222	)		(87	)		(412	)
Proceeds from common stock through dividend reinvestment		55			-			-
Cash dividends paid		(4,393	)		(3,360	)		(3,347	)
Net cash used in financing activities		(4,560	)		(3,447	)		(3,759	)
Cash and cash equivalents:
Change in cash and cash equivalents		238			(225	)		472
Cash and cash equivalents at beginning of year		1,462			1,687			1,215
Cash and cash equivalents at end of year	$	1,700		$	1,462		$	1,687