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Note 13 - Commitments and Contingent Liabilities
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
Note
13:
Commitments and Contingent Liabilities
 
Loan commitments are agreements to lend to a customer provided there is
no
violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do
not
necessarily represent future funding requirements. Loan commitments are subject to the Company’s normal credit policies and collateral requirements. Unfunded loan commitments were
$278,598
thousand and
$272,646
thousand at
December 31, 2018
and
December 31, 2017,
respectively. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. Standby letters of credit are primarily issued to support customers’ short-term financing requirements and must meet the Company’s normal credit policies and collateral requirements. Financial and performance standby letters of credit outstanding totaled
$2,772
thousand and
$19,263
thousand at
December 31, 2018
and
December 31, 2017,
respectively. The Company had
no
commitments outstanding for commercial and similar letters of credit at
December 31, 2018
and
December 31, 2017.
The Company had
$75
thousand in outstanding full recourse guarantees to a
3
rd
party credit card company at
December 31, 2018.
The Company had a reserve for unfunded commitments of
$
2,308
thousand at
December 31, 2018
and
2017,
included in other liabilities.
 
Due to the nature of its business, the Company is subject to various threatened or filed legal cases. Based on the advice of legal counsel, the Company does
not
expect such cases will have a material, adverse effect on its financial position or results of operations. Legal liabilities are accrued when obligations become probable and the amount can be reasonably estimated. In the
third
quarter
2018,
the Company achieved a mediated settlement to dismiss a lawsuit, subject to court approval, and accrued a liability for
$3,500
thousand.
 
The Company has determined that it will be obligated to provide refunds of revenue recognized in years prior to
2017
to some customers. The Company estimates the probable amount of these obligations will be
$5,542
thousand and accrued a liability for such amount in
2017;
the estimated liability is subject to revision.