XML 29 R23.htm IDEA: XBRL DOCUMENT v3.20.1
DIVIDEND LIMITATIONS ON SUBSIDIARY BANK
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
DIVIDEND LIMITATIONS ON SUBSIDIARY BANK

NOTE 16 DIVIDEND LIMITATIONS ON SUBSIDIARY BANK

 

A principal source of funds of the Company is dividends paid by the Bank. The Federal Reserve Act restricts the amount of dividends the Bank may pay. Approval by the Board of Governors of the Federal Reserve System is required if the dividends declared by a state member bank, in any year, exceed the sum of (1) net income of the current year and (2) income net of dividends for the preceding two years.