Commitments and Contingencies

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

(13) COMMITMENTS AND CONTINGENCIES

At September 30, 2016, certificates of deposits scheduled to mature in one year or less from September 30, 2016, totaled $135.8 million. At September 30, 2016, the Company has $32.4 million in time deposits greater than $100,000 but less than $250,000 that are schedule to mature in one year and $41.5 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. At September 30, 2016, the Company has deposit balances of $29.5 million that exceed FDIC insurance limits without additional collateral pledged.

At September 30, 2016, the Company had the following off-balance sheet commitments (in thousands):


Standby letters of credit	$	250
Unused home equity lines of credit	$	31,597
Unused commercial lines of credit	$	61,787
Unused unsecured personal lines of credit	$	16,256
Unfunded commitments to originate commercial loans	$	33,863

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 September 30, 2016, the Bank has pledged all eligible 1-4 family first mortgages. At September 30, 2016, the Bank has outstanding borrowings of $11.0 million from the FHLB. At September 30, 2016, the Bank had $49.2 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. A schedule of FHLB borrowings at September 30, 2016, is provided below:


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	%