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Note 3 - Cash and Due from Banks
12 Months Ended
Dec. 31, 2015
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents Disclosure [Text Block]

 Note 3 - Cash and Due from Banks


Regulation D of the Federal Reserve Act requires that banks maintain reserve balances with the Federal Reserve Bank of Richmond (“Federal Reserve Bank”) based principally on the type and amount of their deposits. During 2015, the Bank maintained balances at the Federal Reserve sufficient to meet the reserve requirements as well as significant excess reserves. Late in 2008, the Federal Reserve in connection with the Emergency Economic Stabilization Act of 2008 began paying a nominal amount of interest on balances held, which interest on excess reserves was increased under provisions of the Dodd Frank Wall Street Reform and Consumer Protection Act passed in July 2010.


Additionally, the Bank maintains interest-bearing balances with the Federal Home Loan Bank of Atlanta and noninterest bearing balances with nine domestic correspondent banks as compensation for services they provide to the Bank.