Note 10 - Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2017

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

$220

million at

December 31, 2017,

and were expected to mature at varying dates from

May 2018

through

April 2024,

with fixed rates of interest from

1.04%

to

2.39%

and averaging

1.72%.

FHLBI advances totaled

$175

million at

December 31, 2016,

and were expected to mature at varying dates ranging from

March 2017

through

April 2023,

with fixed rates of interest from

1.04%

to

2.11%

and averaging

1.48%.

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 p

ortfolio. Our borrowing line of credit as of

December 31, 2017

totaled

$731

million, with availability of

$511

million.

Scheduled maturities as of

December 31,

201

7:

201 8	$	20,000,000
201 9		40,000,000
20 20		30,000,000
20 21		40,000,000
202 2		40,000,000
Thereafter		50,000,000