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Note 6 - Other Borrowed Funds
 3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Federal Home Loan Bank Advances, Disclosure [Text Block]
NOTE
6
- OTHER BORROWED FUNDS
 
Other borrowed funds at
March
31,
2017
and
December
31,
2016
are comprised of advances from the Federal Home Loan Bank (“FHLB”) of Cincinnati and promissory notes. At
March
31,
2017
and
December
31,
2016,
FHLB Borrowings included
$62
and
$73
in capitalized lease obligations, respectively.
 
   
FHLB Borrowings
    
Promissory Notes
    
Totals
  
                         
March 31, 2017
   $
31,515
     $
7,770
     $
39,285
  
December 31, 2016
   $
29,203
     $
7,882
     $
37,085
  
 
Pursuant to collateral agreements with the FHLB, advances were secured by
$278,571
in qualifying mortgage loans,
$69,040
in commercial loans and
$5,365
in FHLB stock at
March
31,
2017.
Fixed-rate FHLB advances of
$31,453
mature through
2042
and have interest rates ranging from
1.34%
to
3.31%
and a year-to-date weighted average cost of
2.14%.
There were
no
variable-rate FHLB borrowings at
March
31,
2017.
 
At
March
31,
2017,
the Company had a cash management line of credit enabling it to borrow up to
$75,000
from the FHLB. All cash management advances have an original maturity of
90
days. The line of credit must be renewed on an annual basis. There was
$75,000
available on this line of credit at
March
31,
2017.
 
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
$222,034
at
March
31,
2017.
Of this maximum borrowing capacity, the Company had
$140,581
available to use as additional borrowings, of which
$75,000
could be used for short-term, cash management advances, as mentioned above.
 
Promissory notes, issued primarily by Ohio Valley, are due at various dates through a final maturity date of
August
1,
2026,
and have fixed rates ranging from
1.25%
to
4.09%
through
August
1,
2021
and a year-to-date weighted average cost of
2.79%
at
March
31,
2017,
as compared to
2.34%
at
December
31,
2016.
Promissory notes payable by Ohio Valley to related parties totaled
$360
at
March
31,
2017.
Promissory notes payable to other banks totaled
$3,786
at
March
31,
2017.
 
Letters of credit issued on the Bank's behalf by the FHLB to collateralize certain public unit deposits as required by law totaled
$50,000
at
March
31,
2017
and
$45,000
at
December
31,
2016.
 
Scheduled principal payments as of
March
31,
2017:
 
   
FHLB
Borrowings
    
Promissory
Notes
    
Totals
  
                         
2017
   $
5,200
     $
1,827
     $
7,027
  
2018
    
2,623
      
2,261
      
4,884
  
2019
    
2,489
      
1,219
      
3,708
  
2020
    
2,335
      
519
      
2,854
  
2021
    
2,059
      
541
      
2,600
  
Thereafter
    
16,809
      
1,403
      
18,212
  
    $
31,515
     $
7,770
     $
39,285