Note 9 - Federal Home Loan Bank Advances

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

( 9 ) Federal Home Loan Bank Advances

Bancorp had outstanding borrowings totaling

$47.9

million and

$48.2

million at

March 31, 2019

and

December 31, 2018,

respectively, via

14

separate FHLB fixed-rate advances.  As of

March 31, 2019,

for

two

advances totaling

$30

million, both of which are non-callable, interest payments are due monthly, with principal due at maturity.  For the remaining advances, principal and interest payments are due monthly based on an amortization schedule.

The following is a summary of the contractual maturities and average effective rates of outstanding advances:

(In thousands)	March 31, 2019					December 31, 2018
Year	Advance		Weighted average Fixed Rate			Advance		Weighted average Fixed Rate
2019	$	30,000		2.61	%	$	30,000		2.54	%
2020		1,678		2.23			1,691		2.23
2021		196		2.12			215		2.12
2024		2,186		2.36			2,240		2.36
2025		4,494		2.42			4,626		2.42
2026		8,089		1.99			8,185		1.99
2028		1,210		1.49			1,220		1.49
Total	$	47,853		2.43	%	$	48,177		2.39	%

FHLB advances are collateralized by certain commercial and residential real estate mortgage loans under a blanket mortgage collateral pledge agreement and FHLB stock. Bancorp views these advances to be an effective alternative to brokered deposits to fund loan growth. At

March 31, 2019,

and

December 31, 2018,

the amount of available credit from the FHLB totaled

$523.7

million, and

$537.0

million, respectively. Bancorp also had

$105

million in federal funds lines available from correspondent banks at both

March 31, 2019,

and

December 31, 2018.