4. DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS	12 Months Ended
Dec. 31, 2015
Notes to Financial Statements
4. DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS	NOTE 4 DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS: The Bank had federal funds sold and cash on deposit with other commercial banks amounting to $11.2 million and $20.9 million at December 31, 2015 and 2014, respectively. Deposit amounts at other commercial banks may, at times, exceed federally insured limits. The Bank is required to maintain average reserve balances, computed by applying prescribed percentages to its various types of deposits, either at the Bank or on deposit with the Federal Reserve Bank. At December 31, 2015 and 2014, all required reserves were met by the Bank’s vault cash. In May 2015, we received notification that a $3.0 million unsecured fed funds line of credit facility with a correspondent bank had been reinstated. A condition of this unsecured fed funds line of credit is that the Bank agreed to maintain a minimum deposit balance with the correspondent bank of $200 thousand. As of December 31, 2015, the Bank was in compliance with this requirement.

4. DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS

12 Months Ended

Dec. 31, 2015

4. DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS

NOTE 4 DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS:

The Bank had federal funds sold and cash on deposit with other commercial banks amounting to $11.2 million and $20.9 million at December 31, 2015 and 2014, respectively. Deposit amounts at other commercial banks may, at times, exceed federally insured limits.

The Bank is required to maintain average reserve balances, computed by applying prescribed percentages to its various types of deposits, either at the Bank or on deposit with the Federal Reserve Bank. At December 31, 2015 and 2014, all required reserves were met by the Bank’s vault cash.

In May 2015, we received notification that a $3.0 million unsecured fed funds line of credit facility with a correspondent bank had been reinstated. A condition of this unsecured fed funds line of credit is that the Bank agreed to maintain a minimum deposit balance with the correspondent bank of $200 thousand. As of December 31, 2015, the Bank was in compliance with this requirement.