Commitments and Contingencies

3 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

(13)	COMMITMENTS AND CONTINGENCIES

At March 31, 2016, the Bank had $22.4 million in outstanding commitments to originate loans and undisbursed commitments on loans outstanding of $114.2 million. Management believes that the Bank’s sources of funds are sufficient to fund all of its outstanding commitments. Certificates of deposits scheduled to mature in one year or less from March 31, 2016, totaled $133.2 million. At March 31, 2016, the Company has $28.3 million in times deposits greater than $100,000 but less than $250,000 that are schedule to mature in one year and $44.4 million in time deposits greater than $250,000 that are scheduled to mature in one year or less. Management believes that a significant percentage of such deposits will remain with the Bank.

The Bank’s FHLB borrowings are secured by a blanket security agreement pledging the Bank’s 1-4 family first mortgage loans and non-residential real estate loans. At March 31, 2016, the Bank has pledged all eligible 1-4 family first mortgages.

At March 31, 2016, the Company had the following off-balance sheet commitments (in thousands):


Standby letters of credit	$	69
Unused home equity lines of credit	$	30,307
Unused commercial lines of credit	$	55,315
Unused unsecured personal lines of credit	$	28,537
Unfunded commitments on commercial loans	$	22,439

At March 31, 2016, the Bank had $53.1 million in additional borrowing capacity with the FHLB which includes an overnight line of credit of $30.0 million. The Bank has an $8 million unsecured overnight borrowing capacity from a correspondent bank.


Outstanding Balance		Rate			Maturity
(Dollars in Thousands)
$	5,000		0.88	%		10/06/2017
	6,000		1.18	%		07/06/2018

$	11,000		1.04	%