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15. SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2016
Disclosure Text Block [Abstract]  
15. SUBSEQUENT EVENTS

15. SUBSEQUENT EVENTS

 

In 2016, correspondence was sent to financial institutions in the region to encourage them to consider an investment for CRA credit. In March 2017, the Bank received a preferred stock investment from Fulton Financial totaling $675,000. As a result of this preferred stock investment, the Bank’s Tier 1 capital improved to 5.53% at March 31, 2017. In addition, in April 2019, the bank received an economic stimulus grant from the City of Philadelphia which improved its Tier I leverage capital ratio to 7.80%. Under PCA standards, the Bank is considered “well capitalized”.