Federal Home Loan Bank Stock and Other Equity Securities, at Cost

12 Months Ended

Dec. 31, 2016

Federal Home Loan Bank Stock and Other Equity Securities, at Cost [Abstract]

Federal Home Loan Bank Stock and Other Equity Securities, at Cost

4. Federal Home Loan Bank Stock and Other Equity Securities, at Cost

The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock and other equity securities are carried at cost, classified as restricted securities, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. FHLB stock and other equity securities are reported in Interest Receivable and Other Assets on the Company’s Consolidated Balance Sheets and totaled $9.2 million at December 31, 2016 and $7.8 million at December 31, 2015.