Note 10 - Long-term Debt

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Long-term Debt [Text Block]

10. LONG-TERM DEBT

The Company uses

FHLB advances as an alternative to funding sources with similar maturities, such as certificates of deposit or other deposit programs. These advances generally offer more attractive rates than other mid-term financing options. They are also flexible, allowing the Company to quickly obtain the necessary maturities and rates that best suit its overall asset/liability strategy. FHLB advances with an original maturity of more than

one

year are classified as long-term. The Company did

not

have any long-term FHLB advances outstanding as of

September 30, 2018.

The Company had long-term FHLB advances outstanding of

$10.0

million as of

December 31, 2017. 

Assets pledged (including loans and investment securities) associated with FHLB advances totaled

$29.5

million and

$26.0

million as of

September 30, 

2018

and

December 31, 2017,

respectively. As of

September 30, 

2018

and

December 31, 2017,

the Bank had

$231.0

million and

$159.3

million, respectively, in remaining credit from the FHLB (subject to available collateral).