10. BORROWINGS

Borrowings as of December 31, 2015 consisted of an FHLB borrowing of $0.6 million with an interest rate of 0.50% that matures in 2020 and capital leases of $0.3 million with an average interest rate of 1.83%. Please see Note 9 for details on leases. Interest expense on advances from FHLB for the years ended December 31, 2015 and December 31, 2014 was $3 thousand. The maximum FHLB advances outstanding for the year ended December 31, 2015 were $0.6 million. As of December 31, 2015, the Bank had $0.6 million of outstanding advances with the FHLB, and had the borrowing availability of an additional $6.1 million from the FHLB. Pursuant to collateral agreements with the FHLB, advances are secured by FHLB stock, and qualifying loans totaling $6.7 million and $7.3 million as of December 31, 2015 and 2014, respectively.

The Company has federal funds lines of credit with three correspondent banks totaling $10.0 million. The Company periodically tests its federal funds lines of credit with its correspondent banks. These lines were tested quarterly during the year ended December 31, 2015.

The following is the outstanding principal maturities and interest rate of the Company's FHLB advances as of December 31, 2014:

December 31, 2015
Maturity Date	Amount		Rate
(Dollars in thousands)
2016	$	24		0.50	%
2017		25		0.50	%
2018		26		0.50	%
2019		27		0.50	%
Thereafter		532		0.50	%
	$	634		0.50	%