Restrictions on Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2016

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Restrictions on Cash and Cash Equivalents

The nature of the Company's business requires that it maintain amounts due from correspondent banks which, at times, may exceed federally insured limits. The balances in these accounts at December 31, were as follows:

	2016		2015
	(Dollars in thousands)
Noninterest bearing accounts	$	289	$	315
Federal Reserve Bank of Boston	34,777		13,530
FHLB of Boston	572		253

No losses have been experienced in these accounts and the Company believes it is not exposed to any significant risk with respect to the accounts.

The Company had no requirement to maintain contracted clearing balances at December 31, 2016 or 2015. Balances at the Federal Reserve Bank of Boston and a portion of the funds at the FHLB are classified as overnight deposits as they earn interest. The Company is required to maintain vault cash or noninterest bearing reserve balances with Federal Reserve Bank of Boston. Total reserve balances required at December 31, 2016 and 2015 were $891 thousand and $726 thousand, respectively, which were both satisfied by vault cash.