Restrictions on Cash and Amounts Due from Banks

12 Months Ended

Dec. 31, 2012

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, the Company was required to maintain a balance of at least $350 thousand.  At December 31, 2012, the Company had no balance requirements on any of its accounts.

The Company had approximately $162 thousand and $161 thousand in deposits in financial institutions in excess of amounts insured by the FDIC at December 31, 2012 and December 31, 2011 respectively. 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 expired on December 31, 2012.  Without the full coverage of these accounts, the Company would have had $1.7 million in excess of the amounts insured by the FDIC at December 31, 2012.