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OTHER EQUITY SECURITIES | 12 Months Ended
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Dec. 31, 2017
OTHER EQUITY SECURITIES [Text Block] | NOTE 7 – OTHER EQUITY SECURITIES Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum is calculated as a percentage of aggregate outstanding mortgages, and an additional investment is required that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The stock is capital stock issued at $100 par value. Both stock and cash dividends may b e received on FHLB stock. As of December 31, 2017 and 201 6, the Corporation had investments in FHLB stock with a book value of $40.9 million and $40.8 million, respectively. The net realizable value is a reasonable proxy for the fair value of these i nstruments. Dividend income from FHLB stock for 201 7, 201 6, and 201 5 amounted to $2.1 million, $1.5 million, and $1.1 million, respectively. The shares of FHLB stock owned by the Corporation were issued by the FHLB of New York. The FHLB of New York is par t of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The Federal Home Loan Banks are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which ensures that the Federal Home Loan Banks operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing fi nance mission. The Corporation has other equity securities that do not have a readily available fair value. The carrying value of such securities was $2.2 million as of both December 31, 2017 and 2016.

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- Definition Information about the aggregate carrying amount of investment in equities and other securities that do not have readily determinable fair values. The carrying amount of such securities equals cost, adjusted for other than temporary impairment. Includes investments in stock of the Federal Home Loan Bank. + References No definition available. + Details
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