Restrictions on Cash and Due from Banks and Interest-earning Deposit Accounts

12 Months Ended

Dec. 31, 2014

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Restrictions on Cash and Due from Banks and Interest-earning Deposit Accounts

Restrictions on Cash and Due from Banks and Interest-earning Deposit Accounts

The Bank maintains reserve balances under Federal Reserve Bank requirements. The reserve requirement at December 31, 2014 and 2013 was $2.5 million and $8.3 million, respectively, and was satisfied by vault cash held at the Bank’s branches. The average balances at the Federal Reserve Bank of Philadelphia were $31.5 million and $44.5 million for the years ended December 31, 2014 and 2013, respectively.

The Corporation also maintains interest-earning deposit accounts at other financial institutions as collateral for Risk Participation Agreements. The pledging requirement at December 31, 2014 and 2013 was $370 thousand and $690 thousand, respectively. See Note 16, “Commitments and Contingencies” for additional information.