XML 53 R22.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note N - Employee Benefits | 12 Months Ended
--- | ---
Dec. 31, 2017
Notes to Financial Statements |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note N - Employee Benefits Th e Bank has a profit-sharing plan for the benefit of its employees and their beneficiaries. Contributions to the plan are determined by the Board of Directors of Ohio Valley. Contributions charged to expense were $340, $290, and $288 for 2017, 2016 and 2015. Ohio Valley maintains an Employee Stock Ownership Plan (ESOP) covering substantially all employees of the Company. Ohio Valley issues shares to the ESOP, purchased by the ESOP with subsidiary cash contributions, which are allocated to ESOP participants based on relative compensation. The total number of shares held by the ESOP, all of which have been allocated to participant accounts, were 361,584 and 350,170 at December 31, 2017 and 2016. In addition, the subsidiaries made contributions to its ESOP Trust as follows:
|  | Years ended December 31 |
|  | 201 7 |  |  | 201 6 |  |  | 201 5 |
Number of shares issued |  |  | 15,118 |  |  |  | 24,572 |  |  |  | ---- |
Fair value of stock contributed |  | $ | 428 |  |  | $ | 575 |  |  | $ | ---- |
Cash contributed |  |  | 250 |  |  |  | ---- |  |  |  | 674 |
Total expense |  | $ | 678 |  |  | $ | 575 |  |  | $ | 674 |
Life insurance contracts with a cash surrender value of $2 6,633 and annuity assets of $2,042 at December 31, 2017 have been purchased by the Company, the owner of the policies. The purpose of these contracts was to replace a current group life insurance program for executive officers, implement a deferred compensation plan for directors and executive officers, implement a director retirement plan and implement supplemental retirement plans for certain officers. Under the deferred compensation plan, Ohio Valley pays each participant the amount of fees deferred plus interest over the participant’s desired term, upon termination of service. Under the director retirement plan, participants are eligible to receive ongoing compensation payments upon retirement subject to length of service. The supplemental retirement plans provide payments to select executive officers upon retirement based upon a compensation formula determined by Ohio Valley’s Board of Directors. The present value of payments expected to be provided are accrued during the service period of the covered individuals and amounted to $6,740 and $6,328 at December 31, 2017 and 2016. Expenses related to the plans for each of the last three years amounted to $490, $399, and $338. In association with the split-dollar life insurance plan, the present value of the postretirement benefit totaled $2,776 at December 31, 2017 and $3,007 at December 31, 2016. During 2017, the Company collected $2,107 in proceeds on two BOLI policies and recorded $1,993 in proceeds expected to be received from the settlement of two other BOLI policies. This resulted in a $3,586 reduction to BOLI assets and a net gain of $514 that was recorded to income. The proceeds of $1,993 had not yet been collected by year-end 2017 and, therefore, were recorded as other assets at December 31, 2017.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration