Note 15 - Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2015

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:
	2015		2014
Assets
Cash and cash equivalents	$	2,233	$	2,875
Investment in subsidiaries		96,759		91,991
Notes receivable – subsidiaries		3,881		3,782
Other assets		63		47
Total assets	$	102,936	$	98,695
Liabilities
Notes payable	$	3,918	$	3,791
Subordinated debentures		8,500		8,500
Other liabilities		48		188
Total liabilities	$	12,466	$	12,479
Shareholders’ Equity
Total shareholders’ equity		90,470		86,216
Total liabilities and shareholders’ equity	$	102,936	$	98,695

CONDENSED STATEMENTS OF INCOME

	Years ended December 31:
	2015		2014			2013
Income:
Interest on notes	$	53	$	84		$	85
Other operating income		----		34			68
Dividends from subsidiaries		3,500		3,500			8,500
Gain on sale of ProAlliance Corporation		----		810			----
Expenses:
Interest on notes		53		84			86
Interest on subordinated debentures		170		165			265
Operating expenses		345		384			456
Income before income taxes and equity in undistributed earnings of subsidiaries..		2,985		3,795			7,846
Income tax benefit		167		(108	)		214
Equity in undistributed earnings of subsidiaries		5,422		4,386			52
Net Income	$	8,574	$	8,073		$	8,112

CONDENSED STATEMENTS OF CASH FLOWS

	Years ended December 31:
Cash flows from operating activities:	2015			2014			2013
Net Income	$	8,574		$	8,073		$	8,112
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		(5,422	)		(4,386	)		(52	)
Common stock issued to ESOP		----			351			640
Change in other assets		(16	)		323			(60	)
Change in other liabilities		(141	)		(334	)		(15	)
Net cash provided by operating activities		2,995			3,217			8,625
Cash flows from investing activities:
Proceeds from sale of ProAlliance Corporation		----			810			----
Investment in OVBC Captive		----			(250	)		----
Change in notes receivable		(100	)		(262	)		(97	)
Net cash provided by (used in) investing activities		(100	)		298			(97	)
Cash flows from financing activities:
Change in notes payable		128			262			3
Proceeds from common stock through dividend reinvestment		----			103			170
Cash dividends paid		(3,665	)		(3,441	)		(2,965	)
Repayment of subordinated debentures		----			----			(5,000	)
Net cash used in financing activities		(3,537	)		(3,076	)		(7,792	)
Cash and cash equivalents:
Change in cash and cash equivalents		(642	)		439			736
Cash and cash equivalents at beginning of year		2,875			2,436			1,700
Cash and cash equivalents at end of year	$	2,233		$	2,875		$	2,436