Note 8 - Other Borrowed Money

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Debt Disclosure [Text Block]

(

8

) Other Borrowed Money

Other borrowed money at

March 31, 2019

and

December 31, 2018

is summarized as follows:

	Ma r ch 3 1 , 201 9		December 31, 2018
Federal Home Loan Bank Advances	$	39,000	$	44,000

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

2020

to

2028

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

March 31, 2019,

the book value of those loans pledged is

$109,408.

At

March 31, 2019,

the Company had remaining credit availability from the FHLB of

$273,448.

The Company

may

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

The aggregate stated maturities of other borrowed money at

March 31, 2019

are as follows:

Year	Amount
2020	$	2,500
2021		-
2022		18,000
2023		6,000
2024 and After		12,500
	$	39,000

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

$43,500,

none

of which were outstanding at

March 31, 2019.

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

March 31, 2019,

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.