Note 10 - Federal Home Loan Bank of Indianapolis Advances

12 Months Ended

Dec. 31, 2019

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

$354

million at

December 31, 2019,

and were expected to mature at varying dates from

April 2020

through

June 2025,

with fixed rates of interest from

1.36%

to

3.18%

and averaging

2.45%.

FHLBI advances totaled

$350

million at

December 31, 2018,

and were expected to mature at varying dates ranging from

January 2019

through

June 2025,

with fixed rates of interest from

1.20%

to

3.18%

and averaging

2.30%.

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, 2019

totaled

$813

million, with availability of

$453

million.

Scheduled maturities as of

December 31, 2019:

2020	$	40,000,000
2021		70,000,000
2022		94,000,000
2023		80,000,000
2024		50,000,000
Thereafter		20,000,000