Short-term Borrowings |
12 Months Ended |
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Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Short-term borrowings | Note (13)—Short-term borrowings: The Bank currently has available from correspondent banks borrowings capacity in the form of federal fund purchases. The line with First Tennessee Bank, N.A. is for $30,000 as of December 31, 2016 and 2015 and the line with BBVA Compass Bank is for $10,000 as of December 31, 2016 and 2015. Each of these lines may be drawn for fourteen consecutive days. As of December 31, 2016 and 2015 there were no borrowings against these lines. The line with SunTrust Bank is for $15,000 and may be drawn for seven consecutive days before collateral is required. Borrowings that exceed seven days must be secured by a marketable security with a current value of at least 125% of the outstanding balance. As of December 31, 2016 and 2015, there were no borrowings against this line. The line with First National Banker’s Bank is for $10,000 and may be drawn for thirty days before collateral is required. The line with Zions Bank is for $25,000. The line with PNC Bank is for $20,000. The line with Servis FirstBank is for $15,000 for the year ended December 31, 2016 and 2015. As of December 31, 2016 and 2015, there were no borrowings against these lines. The line with Federal Home Loan Bank is for $300,000 and $150,000 as of December 31, 2016 and 2015, respectively, and is secured by qualifying one to four family and multi-family mortgages in the Bank’s loan portfolio as well as U.S. government agency securities. At December 31, 2016 and 2015, the Company had pledged investments securities of $60,371 and $85,587 and loans of $565,718 and $69,915, securing borrowings against this line of $150,000 and $18,000 as of December 31, 2016 and 2015, respectively. The Company maintained a line with the Federal Reserve Bank through the Borrower-in-Custody program in 2016. As of December 31, 2016, $1,072,118 of commercial, consumer, construction, commercial real estate, home equity lines of credit and agricultural loans were pledged to the Federal Reserve Bank through the Borrower-in-Custody program securing a line of credit of $765,107. The Company was not participating in the Borrower-in-Custody program at December 31, 2015. |