Cash And Due From Banks

12 Months Ended

Dec. 31, 2012

Cash And Due From Banks [Abstract]

Cash And Due From Banks

NOTE 2 – Cash and Due from Banks

The Company is required to maintain a $500,000 minimum average daily balance with the Federal Reserve Bank for purposes of settling financial transactions and charges for Federal Reserve Bank services.  The Company is also required to maintain cash balances or deposits with the Federal Reserve Bank sufficient to meet its statutory reserve requirements.  The average reserve requirement for the maintenance period, which included December 31, 2012, was $0.

As discussed in Note 1 of the Notes to Consolidated Financial Statements,cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits with other banks, banker’s acceptances, commercial paper, securities purchased under agreement to resell, federal funds sold, and securities with maturities of less than 90 days at acquisition.  Accordingly, domestic certificates of deposit with maturities of greater than 90 days totaling $13.5 million and $12.0 million at December 31, 2012 and 2011, respectively, have been excluded from cash and cash equivalents in the Statement of Cash Flows.