Note 6 - Investment in Limited Partnership

3 Months Ended

Mar. 31, 2018

Variable Interest Entity Disclosure [Text Block]

6.	INVESTMENT IN LIMITED PARTNERSHIP

The Bank holds an investment in an affordable housing project for which it provides funding as a limited partner and has received tax credits related to its investment in the project based on its partnership share. The net assets of the partnership consist primarily of apartment complexes

, and the primary liabilities consist of those associated with the operation of the partnership. The Company has determined that this investment requires consolidation as a variable interest entity under

ASC

Topic

810,

Consolidation.

The Company holds a

99.9%

interest in the limited partnership. Assets recorded by the Company as a result of the consolidation were less than

$0.1

million as of both

March 31, 2018

and

December 31, 2017.