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Note 9 - Federal Home Loan Bank Advances
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Federal Home Loan Bank Advances, Disclosure [Text Block]

(9)

Federal Home Loan Bank Advances

 

At December 31, 2020 and 2019, the Company had $3,638,000 and $23,613,000 in outstanding advances from the FHLB of Cincinnati. Each advance is amortized and payable monthly with a prepayment penalty for fixed rate advances. The weighted average rate of the total borrowings at December 31, 2020 was 2.68%. The advances are collateralized by a blanket security agreement which includes Wilson Bank's 1-4 family loans. The Company’s additional borrowing capacity was $336,432,000 at December 31, 2020.

 

Required future principal payments on Federal Home Loan Bank borrowings are as follows:

 

  (In Thousands) 

Maturity

 Total 

2021

 $1,350 

2022

  1,350 

2023

  788 

2024

  150 

2025

   

Thereafter

   
Total $3,638