Note 7 - Other Borrowed Money

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Debt Disclosure [Text Block]

(

7

) Other Borrowed Money

Other borrowed money at

June 30, 2017

and

December 31, 2016

is summarized as follows:

	June 30, 2017		December 31, 2016
Federal Home Loan Bank Advances	$	51,000	$	46,000
Other Borrowings		5,000		-
	$	56,000	$	46,000

Advances from the Federal Home Loan Bank (FHLB) have maturities ranging from

2018

to

2026

and interest rates ranging from

0.98

percent to

3.51

percent. As collateral on the outstanding FHLB advances, the Company has provided a blanket lien on its portfolio of qualifying residential

first

mortgage loans and commercial loans. At

June 30, 2017

the book value of those loans pledged is

$118,022.

At

June 30, 2017

the Company had remaining credit availability from the FHLB of

$250,736.

The Company

may

be required to pledge additional qualifying collateral in order to utilize the full amount of the remaining credit line.

The Company borrowed

$5,000

during the

first

quarter of

2017

as a short term loan to be paid off within

one

year with an interest rate of prime plus

0.75

percent, currently

5.00

percent.

The aggregate stated maturities of other borrowed money at

June 30, 2017

are as follows:

Year	Amount
2018	$	12,500
2019		5,000
2020		2,500
After 2020	$	36,000
		56,000

The Company also has available federal funds lines of credit with various financial institutions totaling

$43,500,

none

of which were outstanding at

June 30, 2017.

The Company has the ability to borrow funds from the Federal Reserve Bank (FRB) of Atlanta utilizing the discount window. The discount window is an instrument of monetary policy that allows eligible institutions to borrow money from the FRB on a short-term basis to meet temporary liquidity shortages caused by internal or external disruptions. At

June 30, 2017,

the Company had borrowing capacity available under this arrangement, with

no

outstanding balances. The Company would be required to pledge certain available-for-sale investment securities as collateral under this agreement.