Note 10 - Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2018

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

$350

million at

December 31, 2018,

and were expected to mature at varying dates from

January 2019

through

June 2025,

with fixed rates of interest from

1.20%

to

3.18%

and averaging

2.30%.

FHLBI advances totaled

$220

million at

December 31, 2017,

and were expected to mature at varying dates ranging 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 generally collateralized by a blanket lien on our residential mortgage loan portfolio. Our borrowing line of credit as of

December 31, 2018

totaled

$739

million, with availability of

$383

million.

Scheduled maturities as of

December 31, 2018:

2019	$	40,000,000
2020		40,000,000
2021		70,000,000
2022		70,000,000
2023		80,000,000
Thereafter		50,000,000