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Cash and Due from Banks
12 Months Ended
Dec. 31, 2016
Cash and Due from Banks.  
Cash and Due from Banks

 

Note 3: Cash and Due from Banks

 

The Bank is required to maintain reserve balances with the FRBC.  In accordance with the FRBC requirements, the average reserve balances were $10.5 million and $10.7 million, for the years December 31, 2016, and 2015, respectively.  The nature of the Company’s business requires that it maintain amounts with other banks and federal funds which, at times, may exceed federally insured limits.  Management monitors these correspondent relationships, and the Company has not experienced any losses in such accounts.