Note 7 - Federal Home Loan Bank of Indianapolis Advances

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

7.

    

FEDERAL HOME LOAN BANK OF INDIANAPOLIS ADVANCES

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

$220

million at

March 31, 2018

and

December 31, 2017,

and 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%

.

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 collateralized by residential mortgage loans,

first

mortgage liens on multi-family residential property loans,

first

mortgage liens on commercial real estate property loans, and substantially all other assets of our bank, under a blanket lien arrangement. Our borrowing line of credit as of

March 31, 2018

totaled about

$739

million, with remaining availability based on collateral approximating

$519

million.

Maturities of currently outstanding FHLBI advances are as follows:

2018	$	20,000,000
2019		40,000,000
2020		30,000,000
2021		40,000,000
2022		40,000,000
Thereafter		50,000,000