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Parent Company Only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2020
Parent Company Only Condensed Financial Information [Abstract] |
Parent Company Only Condensed Financial Information | Note Q - 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 |  | 2020 |  |  | 2019 |
Cash and cash equivalents |  | $ | 4,112 |  |  | $ | 4,308 |
Investment in subsidiaries |  |  | 143,424 |  |  |  | 134,910 |
Notes receivable – subsidiaries |  |  | 1,603 |  |  |  | 1,963 |
Other assets |  |  | 32 |  |  |  | 48 |
Total assets |  | $ | 149,171 |  |  | $ | 141,229 |
Liabilities |  |  |  |  |  |  |  |
Notes payable |  | $ | 3,198 |  |  | $ | 4,233 |
Subordinated debentures |  |  | 8,500 |  |  |  | 8,500 |
Other liabilities |  |  | 1,149 |  |  |  | 317 |
Total liabilities |  |  | 12,847 |  |  |  | 13,050 |
Shareholders’ Equity |  |  |  |  |  |  |  |
Total shareholders’ equity |  |  | 136,324 |  |  |  | 128,179 |
Total liabilities and shareholders’ equity |  | $ | 149,171 |  |  | $ | 141,229 |
CONDENSED STATEMENTS OF INCOME
|  | Years ended December 31: |
Income: |  | 2020 |  |  | 2019 |  |  | 2018 |
Interest on notes |  | $ | 41 |  |  | $ | 47 |  |  | $ | 53 |
Dividends from subsidiaries |  |  | 4,125 |  |  |  | 4,375 |  |  |  | 4,225 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest on notes |  |  | 82 |  |  |  | 139 |  |  |  | 185 |
Interest on subordinated debentures |  |  | 208 |  |  |  | 356 |  |  |  | 330 |
Operating expenses |  |  | 344 |  |  |  | 377 |  |  |  | 351 |
Income before income taxes and equity in undistributed earnings of subsidiaries .. |  |  | 3,532 |  |  |  | 3,550 |  |  |  | 3,412 |
Income tax benefit |  |  | 121 |  |  |  | 169 |  |  |  | 164 |
Equity in undistributed earnings of subsidiaries |  |  | 6,606 |  |  |  | 6,188 |  |  |  | 8,368 |
Net Income |  | $ | 10,259 |  |  | $ | 9,907 |  |  | $ | 11,944 |
Comprehensive Income |  | $ | 12,167 |  |  | $ | 12,570 |  |  | $ | 10,860 |
CONDENSED STATEMENTS OF CASH FLOWS
|  | Years ended December 31: |
Cash flows from operating activities: |  | 2020 |  |  | 2019 |  |  | 2018 |
Net Income |  | $ | 10,259 |  |  | $ | 9,907 |  |  | $ | 11,944 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (6,606 | ) |  |  | (6,188 | ) |  |  | (8,368 | )
Common stock issued to ESOP |  |  | ---- |  |  |  | 328 |  |  |  | 295 |
Change in other assets |  |  | 16 |  |  |  | 45 |  |  |  | (26 | )
Change in other liabilities |  |  | 832 |  |  |  | (214 | ) |  |  | 262 |
Net cash provided by operating activities |  |  | 4,501 |  |  |  | 3,878 |  |  |  | 4,107 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Change in notes receivable |  |  | 360 |  |  |  | 1,037 |  |  |  | 320 |
Net cash provided by investing activities |  |  | 360 |  |  |  | 1,037 |  |  |  | 320 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Change in notes payable |  |  | (1,035 | ) |  |  | (2,046 | ) |  |  | (1,045 | )
Proceeds from common stock through dividend reinvestment |  |  | ---- |  |  |  | 1,407 |  |  |  | 1,325 |
Cash dividends paid |  |  | (4,022 | ) |  |  | (4,000 | ) |  |  | (3,967 | )
Net cash used in financing activities |  |  | (5,057 | ) |  |  | (4,639 | ) |  |  | (3,687 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Change in cash and cash equivalents |  |  | (196 | ) |  |  | 276 |  |  |  | 740 |
Cash and cash equivalents at beginning of year |  |  | 4,308 |  |  |  | 4,032 |  |  |  | 3,292 |
Cash and cash equivalents at end of year |  | $ | 4,112 |  |  | $ | 4,308 |  |  | $ | 4,032 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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