Regulatory Matters and Significant Risks or Uncertainties

12 Months Ended

Dec. 31, 2016

Regulatory Matters and Significant Risks or Uncertainties [Abstract]

Regulatory Matters and Significant Risks or Uncertainties

Note 2.Regulatory Matters and Significant Risks or Uncertainties

Federal Reserve Memorandum of Understanding

In July 2013, the Company agreed to enter into an informal non-public agreement, a memorandum of understanding (“MOU”), with the Federal Reserve Bank of Philadelphia (the “Federal Reserve Bank”).  Included in this MOU are certain continued reporting requirements and a requirement that the Company receive the prior approval of the Federal Reserve Bank and the Director of Banking Supervision and Regulation of the Board of Governors of the Federal Reserve System prior to declaring or paying any dividends on our capital stock, making interest payments related to our outstanding trust preferred securities or subordinate securities, incurring or guaranteeing certain debt with an original maturity date greater than one year, and purchasing or redeeming any shares of stock. The MOU was terminated in writing by the Federal Reserve Bank in February 2017.