Dividend Restrictions

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Dividend Restrictions

NOTE 16 - DIVIDEND RESTRICTIONS

The Bank is subject to a dividend restriction that generally limits the amount of dividends that can be paid by an Ohio state-chartered bank. Under the Ohio Banking Code, cash dividends may not exceed net profits as defined for that year combined with retained net profits for the two preceding years less any required transfers to surplus. Under this formula, the amount available for payment of dividends in 2018 is $6.7 million plus 2018 profits retained up to the date of the dividend declaration.