Note 15 - Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

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	2014		2013
Cash and cash equivalents	$	2,875	$	2,436
Investment in subsidiaries		91,991		86,644
Notes receivable - subsidiaries		3,782		3,520
Other assets		47		370
Total assets	$	98,695	$	92,970
Liabilities
Notes payable	$	3,791	$	3,529
Subordinated debentures		8,500		8,500
Other liabilities		188		522
Total liabilities	$	12,479	$	12,551
Shareholders’ Equity
Total shareholders’ equity		86,216		80,419
Total liabilities and shareholders’ equity	$	98,695	$	92,970

CONDENSED STATEMENTS OF INCOME

	Years ended December 31:
Income:	2014			2013		2012
Interest on notes	$	84		$	85	$	114
Other operating income		34			68		84
Dividends from subsidiaries		3,500			8,500		4,500
Gain on sale of ProAlliance Corporation		810			----		----
Expenses:
Interest on notes		84			86		114
Interest on subordinated debentures		165			265		789
Operating expenses		384			456		364
Income before income taxes and equity in undistributed earnings of subsidiaries		3,795			7,846		3,431
Income tax benefit		(108	)		214		355
Equity in undistributed earnings of subsidiaries		4,386			52		3,266
Net Income	$	8,073		$	8,112	$	7,052

CONDENSED STATEMENTS OF CASH FLOWS

	Years ended December 31:
Cash flows from operating activities:	2014			2013			2012
Net Income	$	8,073		$	8,112		$	7,052
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of ProAlliance Corporation		(810	)		----			----
Equity in undistributed earnings of subsidiaries		(4,386	)		(52	)		(3,266	)
Common stock issued to ESOP		351			640			617
Change in other assets		323			(60	)		96
Change in other liabilities		(334	)		(15	)		(21	)
Net cash provided by operating activities		3,217			8,625			4,478
Cash flows from investing activities:
Proceeds from sale of ProAlliance Corporation		810			----			----
Investment in OVBC Captive		(250	)		----			----
Change in notes receivable		(262	)		(97	)		320
Net cash provided by (used in) investing activities		298			(97	)		320
Cash flows from financing activities:
Change in notes payable		262			3			(222	)
Proceeds from common stock through dividend reinvestment		103			170			55
Cash dividends paid		(3,441	)		(2,965	)		(4,393	)
Repayment of subordinated debentures		----			(5,000	)		----
Net cash used in financing activities		(3,076	)		(7,792	)		(4,560	)
Cash and cash equivalents:
Change in cash and cash equivalents		439			736			238
Cash and cash equivalents at beginning of year		2,436			1,700			1,462
Cash and cash equivalents at end of year	$	2,875		$	2,436		$	1,700