MONEY MARKET INVESTMENTS

12 Months Ended

Dec. 31, 2016

Money Market Investments [Abstract]

Money Market Investments [Text Block]

NOTE4–MONEY MARKET INVESTMENTS

Money market investments are composed of time deposits with other financial institutions and short-term investments with original maturities of three months or less.

Money market investments as of December 31, 2016 and 2015 were as follows:
	2016		2015
(Dollars in thousands)
Time deposits with other financial institutions, weighted-average interest rate 0.95%
(2015- 0.92%)	$	2,800	$	3,000
Other short-term investments, weighted-average interest rate of 0.30%
(2015 - weighted-average interest rate of 0.34%)		7,294		216,473
	$	10,094	$	219,473

As of December 31, 2016, the Corporation’s had no money market investments pledged as collateral (2015 - $8.8 million pledged as collateral, primarily related to letters of credit).