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Note 15 - Regulatory Matters
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Regulatory Matters [Text Block]

Note 15: Regulatory Matters

 

Payment of dividends to the Company by the Bank is limited under regulations for state chartered banks. The amount that can be paid in any calendar year, without prior approval from regulatory agencies, cannot exceed the net profits (as defined) for the preceding three calendar years less dividends paid. The Company consistently has paid quarterly dividends to its shareholders since its formation in 1972.