Note 3 - Cash and Cash Equivalents |
12 Months Ended |
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Dec. 31, 2016 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 3 . Cash and Cash Equivalents The Company manages its cash and cash equivalents, which consist of cash on hand, amounts due from banks, federal funds sold, and short-term investments with original maturity of three months or less, based upon the Company’s operating, investment, and financing activities. For the purpose of reporting cash flows, these same accounts are included in cash and cash equivalents. The Company is required to maintain reserves with the Federal Reserve Bank. Reserve requirements are based on a percentage of deposit liabilities. The average reserve balances required were $1.9 million for 2016 and $138,000 for 2015 . The average excess balance with Federal Reserve Bank was $338.5 million in 2016 and $163.3 million in 2015. At December 31, 2016, the Bancorp had $6.9 million on deposit in a cash margin account that serves as collateral for the Bancorp’s interest rate swaps. |