Note 10 - Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

NOTE

10

- FEDERAL HOME LOAN BANK ADVANCES

Federal Home Loan Bank of Indianapolis (“FHLBI”) advances totaled

$175

million at

December

31,

2016,

and were expected to mature at varying dates from

March

2017

through

April

2023,

with fixed rates of interest from

1.04%

to

2.11%

and averaging

1.48%.

FHLBI advances totaled

$68.0

million at

December

31,

2015,

and were expected to mature at varying dates ranging from

December

2016

through

August

2022,

with fixed rates of interest from

1.22%

to

2.11%

and averaging

1.49%.

Each advance is payable at its maturity date, and is subject to a prepayment fee if paid prior to the maturity date. The advances are generally collateralized by a blanket lien on our residential mortgage loan portfolio. Our borrowing line of credit as of

December

31,

2016

totaled

$517

million, with availability of

$342

million.

Scheduled maturities as of

December

31,

2016:

2017	$	45,000,000
2018		20,000,000
2019		20,000,000
2020		20,000,000
2021		30,000,000
Thereafter		40,000,000