Restrictions on Cash and Amounts Due from Banks

12 Months Ended

Dec. 31, 2011

Restrictions on Cash and Amounts Due from Banks [Abstract]

Restrictions on Cash and Amounts Due from Banks

NOTE 2, Restrictions on Cash and Amounts Due from Banks

The Company is required to maintain average balances on hand or with the FRB. At December 31, 2011 and 2010, the required reserve balances amounted to $350 thousand for both years.

The Company had approximately $161 thousand in deposits in financial institutions in excess of amounts insured by the FDIC at December 31, 2011. All but one of the Company's transaction accounts were noninterest-bearing and were fully insured by the FDIC as provided by the Dodd-Frank Act. The section of the Dodd-Frank Act which provides for full coverage of all noninterest-bearing transaction accounts expires on December 31, 2012.