RESTRICTIONS ON CASH AND DUE FROM BANKS

12 Months Ended

Dec. 31, 2015

Restricted Cash and Investments [Abstract]

RESTRICTIONS ON CASH AND DUE FROM BANKS

RESTRICTIONS ON CASH AND DUE FROM BANKS

In return for services obtained through correspondent banks, the Corporation is required to maintain non-interest bearing cash balances in those correspondent banks. At December 31, 2015 and 2014, compensating balances approximated $933,000 and $1,842,000, respectively. During 2015 and 2014, average compensating balances approximated $1,512,000 and $1,959,000, respectively. All compensating balances are met by vault cash.