XML 40 R23.htm IDEA: XBRL DOCUMENT

RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES	12 Months Ended
RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES	Dec. 31, 2015
Equity [Abstract]
RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES	RESTRICTIONS ON DIVIDENDS, LOANS AND ADVANCES Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by the Bank to the Company. Further, regulatory mandates may impose more stringent restrictions on the extent of dividends that may be paid by the Bank to the Company. As the Company is a bank holding company (that has elected status as a financial holding company with the FRB), the Bank may not declare a dividend to the Company if the results of such dividend would drop the Bank below the minimum capital required in order to be classified as “well capitalized.” In addition, as a Federal member bank, the Bank may not declare or pay a dividend if the total of all dividends declared during the calendar year, including the proposed dividend, exceeds the sum of the Bank's undistributed net income during the calendar year and prior two calendar years. During 2016, $21,392,000 of undistributed earnings of the Bank, plus any 2016 net profits retained to the date of the dividend, are available for dividends to the Company without prior regulatory authority. Under current FRB regulations, the Bank is limited to the amounts it may loan to its affiliates, including the Company. Covered transactions, including loans, with a single affiliate, may not exceed 10% of the Bank’s total capital plus its excess allowance for loan losses, and the aggregate of all covered transactions with all affiliates may not exceed 20%, of the Bank’s subsidiary and surplus (as defined by regulation). At December 31, 2015, the maximum amount the Bank has available to loan the Company is approximately $12,198,000.