7. RESTRICTED EQUITY INVESTMENTS

The Company, through the Bank, is a member of the FRB, the FHLBNY and Atlantic Central Bankers Bank, and is required to maintain an investment in the capital stock of each. These investments are restricted in that they can only be redeemed by the issuer at par value. These securities are carried at cost and the Company did not identify any events or changes in circumstances that may have had an adverse effect on the value of the investments in accordance with FASB ASC 942, Financial Services – Depository and Lending. As of December 31, 2014, management does not believe that an impairment of these holdings exists and expects to recover the entire cost of these securities.

The Company’s restricted equity investments at December 31, 2014 and 2013 consisted of the following:

RESTRICTED EQUITY INVESTMENTS


December 31,	2014		2013
FRB stock	$	9,168	$	9,870
FHLBNY stock		5,645		7,001
Atlantic Central Bankers Bank stock		148		148

Total	$	14,961	$	17,019