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REGULATORY RESTRICTION ON DIVIDEND
12 Months Ended
Dec. 31, 2015
REGULATORY RESTRICTION ON DIVIDEND  
REGULATORY RESTRICTION ON DIVIDEND

NOTE 15.  REGULATORY RESTRICTION ON DIVIDEND

 

The approval of the regulatory agencies is required if the total of all dividends declared by the Bank in any calendar year exceeds the Bank’s net profits, as defined, for that year combined with its retained net profits for the preceding two calendar years.