11. SHORT-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2016

Short-Term Debt Tables

Short-term debt

Short-term debt, all maturing within 12 months, as of December 31, 2016 and 2015 is summarized as follows:

			Outstanding		Average		Weighted
	Maximum Outstanding		At		Balance		Average
	at any Month End		Year End		Outstanding		Interest Rate			Yield
2016
Federal funds purchased	$	11,421,000	$	-	$	635,653		.02	%		.98	%
FHLB short term		50,000,000		40,000,000		34,740,437		.11	%		.12	%
Securities sold under agreements to repurchase		4,272,235		-		2,133,239		.55	%		.25	%
Totals			$	40,000,000	$	37,509,329		.15	%		.15	%
2015
Federal funds purchased	$	8,843,000	$	959,217	$	833,907		.02	%		.78	%
FHLB short term		45,000,000		20,000,000		26,739,726		.16	%		.19	%
Securities sold under agreements to repurchase		4,697,341		3,994,834		4,443,753		.04	%		.25	%
Totals			$	24,954,051	$	32,017,386		.21	%		.22	%