Note 12 - Advances From the Federal Home Loan Bank and Other Borrowings

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

NOTE 12: Advances from the Federal Home Loan Bank and Other Borrowings

At

December 31, 2018,

advances from the FHLB of Des Moines and other borrowings mature as follows:

	(In Thousands)
Within one year	$	90,497
One to two years		7,280
Two to three years		4,445
Three to four years		-
Four to five years		-
Thereafter		-
Total	$	102,222

Federal Home Loan Bank Advances

FHLB advances include both fixed and amortizing advances. Fixed advances are due at maturity. Advances are subject to prepayment penalties. Interest rates on these advances are fixed. Advances are collateralized by a blanket pledge of the Bank’s loan portfolio. At

December 31, 2018

and

2017,

the Company exceeded the collateral requirements of the FHLB. The Company’s investment in FHLB stock is also pledged as collateral on these advances. The total FHLB funding available to the Company at

December 31, 2018,

was

45.00%

of total Bank assets as determined by FHLB, or approximately

$373,448,000.

The balance of advances was

$101,357,000

and

$82,104,000

at

December 31, 2018

and

2017,

respectively. The Bank also has a contingent letter of credit with FHLB for

$620,000

and

$405,000

at

December 31, 2018

and

2017,

respectively.

Other Borrowings

At

December 31, 2018

and

2017,

the Bank’s subsidiary had an

$865,000

borrowing related to New Markets Tax Credits. The borrowing is interest only at

1.00%

and matures in

2019.

Federal Funds Purchased

The Bank has a

$7,000,000

Federal funds line of credit with PNC. The balance was

$0

as of

December 31, 2018

and

2017.

The Bank has a

$10,000,000

Federal funds line of credit with Zions Bank. The balance was

$0

as of

December 31, 2018

and

2017,

respectively.

The Bank previously had a

$7,000,000

Federal funds line of credit with Stockman Bank. The balance was

$0

as of

December 31, 2017

and the line of credit was terminated during

2018.

The Bank has a

$10,000,000

Federal funds line of credit with PCBB. The balance was

$0

as of

December 31, 2018

and

2017,

respectively.

During

2018,

the Bank established a

$5,000,000

Federal funds line of credit with United Bankers’ Bank. The balance was

$0

as of

December 31, 2018.

Federal Reserve Bank Discount Window

For additional liquidity sources, the Bank has a credit facility at the Federal Reserve Bank’s Discount Window. The amount available to the Bank is limited by various collateral requirements. There were

no

pledged securities at the Federal Reserve Bank as of

December 31, 2018

and

2017.

The credit facility account had a

$0

balance as of

December 31, 2018

and

2017,

respectively.

All Borrowings Outstanding

For all borrowings outstanding the weighted average interest rate for advances at

December 31, 2018

and

2017

was

2.20%

and

1.58%,

respectively. The average amount outstanding was

$87,283,000

and

$84,195,000

for

2018

and

2017,

respectively.

The maximum amount outstanding at any month-end was

$102,222,000

and

$120,804,000

for

2018

and

2017,

respectively.