STOCK IN FINANCIAL INSTITUTIONS

12 Months Ended

Dec. 31, 2016

Stock In Financial Institutions [Abstract]

Stock In Financial Institutions [Text Block]

NOTE 5 – STOCK IN FINANCIAL INSTITUTIONS

The Bank has stock in the Federal Home Loan Bank (FHLB) of Dallas, The Independent Bankers Bank (TIB) and Pacific Coast Bankers’ Bancshares (PCBB). The carrying value of the stocks at December 31, 2016 and 2015 was $3,575,000 and $1,547,000, respectively, and is accounted for using the cost basis of accounting. The Bank is required to maintain minimum levels of FHLB stock based on various factors, including the amount of mortgage assets and the Bank’s total assets.