BFNB » Topics » Other investments -

These excerpts taken from the BFNB 10-K filed Mar 14, 2008.
Other investments — The Bank, as a member institution, is required to own certain stock investments in the Federal Home Loan Bank of Atlanta and the Federal Reserve Bank.  The stock is generally pledged against any borrowings from these institutions.  No ready market exists for the stocks and they have no quoted market value.  However, redemption of these stocks has historically been at par value.  Dividends are recognized when earned. These non-marketable equity securities have not been evaluated for impairment.

 

Other
investments —
The Bank, as a member institution, is required to
own certain stock investments in the Federal Home Loan Bank of Atlanta and the
Federal Reserve Bank.  The stock is
generally pledged against any borrowings from these institutions.  No ready market exists for the stocks and
they have no quoted market value. 
However, redemption of these stocks has historically been at par
value.  Dividends are recognized when
earned. These non-marketable equity securities have not been evaluated for
impairment.



 



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 14, 2008
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