Other Borrowings

12 Months Ended

Dec. 31, 2017

Other Borrowings [Abstract]

Other Borrowings

Note 13:Other Borrowings

Other borrowings consisted of the following component as of December 31:

	2017		2016
Subordinated debenture, net of discount	$	4,232	$	4,189

The Company assumed $5.0 million in debentures as the result of the acquisition of MFB Corp. in 2008.  In 2005, MFB Corp. had formed MFBC Statutory Trust  I (MFBC), as a wholly owned business trust, to sell trust preferred securities.  The proceeds from the sale of these trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from the acquired company.  The junior subordinated debentures are the sole assets of MFBC and are fully and unconditionally guaranteed by the Company.  The junior subordinated debentures and the trust preferred securities pay interest and dividends, respectively, on a quarterly basis.  The rate resets quarterly at the prevailing three-month LIBOR rate plus 170 basis points, which was 3.29% at December 31, 2017.  The Company may redeem the trust preferred securities, in whole or in part, without penalty, on or after September 15, 2010.  These securities mature on September 15, 2035.  The net balance of the securities as of December 31, 2017 was $4.2 million due to the fair value adjustment of the securities made at the time of the acquisition.