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Funds Restrictions and Reserve Balance | 12 Months Ended
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Dec. 31, 2016
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Funds Restrictions and Reserve Balance | Note 12. Funds Restrictions and Reserve Balance Transfers of funds from the banking subsidiary to the parent company in the form of loans, advances and cash dividends are restricted by federal and state regulatory authorities. At December 31, 2016, the aggregate amount of unrestricted funds which could be transferred from the banking subsidiary to the parent company, without prior regulatory approval, totaled $1.9 million. The amount of unrestricted funds is determined by subtracting the total dividend payments of the Bank from the Bank’s net income for that year, combined with the Bank’s retained net income for the preceding two years. Beginning on January 1, 2017, the Bank could not transfer funds to the Company without prior approval from regulatory authorities under current supervisory practices. The Bank must maintain a reserve against its deposits in accordance with Regulation D of the Federal Reserve Act. For the final weekly reporting period in the years ended December 31, 2016 and 2015, the aggregate amounts of daily average required balances were approximately $6.0 million and $5.6 million, respectively.

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