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LINES OF CREDIT
12 Months Ended
Dec. 31, 2017
LINES OF CREDIT [Abstract]  
LINES OF CREDIT



NOTE 20. LINES OF CREDIT

 

The Bank had $15.0 million and $15.0 million in federal funds lines of credit and a reverse repurchase agreement available on a short-term basis from correspondent banks at December 31, 2017 and 2016. In addition, the Bank had secured credit availability of approximately $205.6 million and $205.1 million from the Federal Home Loan Bank at December 31, 2017 and 2016, respectively. These lines of credit are paid for monthly on a fee basis of 0.08%.  The Bank has pledged as collateral, under a blanket lien, all qualifying residential loans under borrowing agreements with the Federal Home Loan Bank. The Bank had short-term borrowings of $15.7 million from the Federal Home Loan Bank at December 31, 2017 and $0 at December 31, 2016.