Deposits In And Federal Funds Sold To Banks
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12 Months Ended |
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Dec. 31, 2013
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Deposits In And Federal Funds Sold To Banks [Abstract] | |
Deposits In And Federal Funds Sold To Banks Disclosure | NOTE 4DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS:
The Bank had federal funds sold and cash on deposit with other commercial banks amounting to $35.9 million and $76.6 million at December 31, 2013 and 2012, respectively. Deposit amounts at other commercial banks may, at times, exceed federally insured limits.
The Bank is required to maintain average reserve balances, computed by applying prescribed percentages to its various types of deposits, either at the Bank or on deposit with the Federal Reserve Bank. At December 31, 2013 and 2012, all required reserves were met by the Bank’s vault cash.
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