Note 2: Organization and Summary of Significant Accounting Policies: Federal Reserve Bank and Federal Home Loan Bank Stock Policy (Policies)

3 Months Ended

Sep. 30, 2014

Policies

Federal Reserve Bank and Federal Home Loan Bank Stock Policy

Federal Reserve Bank and Federal Home Loan Bank Stock. The Banks are members of the Federal Home Loan Bank (FHLB) system, and Southern Bank is a member of the Federal Reserve Bank of St. Louis. Capital stock of the Federal Reserve and the FHLB is a required investment based upon a predetermined formula and is carried at cost.