Note 9 - Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

Federal Home Loan Bank Advances, Disclosure [Text Block]

Note 9.          Federal Home Loan Bank Advances

The subsidiary banks are members of the FHLB of Des Moines or Chicago. As of December 31, 2014 and 2013, the subsidiary banks held $11,279,000 and $12,343,500, respectively, of FHLB stock, which is included in restricted investment securities on the consolidated balance sheet.

During the second quarter of 2013, CRBT modified $20,000,000 of fixed rate FHLB advances with a weighted average rate of 4.82% and a weighted average maturity of October 2016 into new fixed rate FHLB advances with a weighted average interest rate of 4.12% and a weighted average maturity of June 2019.

There were no FHLB advance prepayments or modifications during 2014.

Maturity and interest rate information on advances from FHLB as of December 31, 2014 and 2013 is as follows:

	December 31, 2014
			Weighted					Weighted
			Average			Amount Due		Average
			Interest Rate			with		Interest Rate
	Amount Due		at Year-End			Putable Option *		at Year-End
Maturity:
Year ending December 31:
2015	$	63,000,000		0.87	%	$	-		-	%
2016		44,500,000		3.81			32,500,000		4.56
2017		33,000,000		3.59			15,000,000		4.42
2018		43,000,000		3.49			5,000,000		2.84
2019		20,000,000		4.12			-		-
Total FHLB advances	$	203,500,000		2.83	%	$	52,500,000		4.36	%

	December 31, 2013
			Weighted					Weighted
			Average			Amount Due		Average
			Interest Rate			with		Interest Rate
	Amount Due		at Year-End			Putable Option *		at Year-End
Maturity:
Year ending December 31:
2014	$	75,850,000		1.32	%	$	-		-	%
2015		21,000,000		2.26			-		-
2016		42,500,000		3.96			32,500,000		4.56
2017		31,000,000		3.75			15,000,000		4.42
2018		41,000,000		3.58			5,000,000		2.84
Thereafter		20,000,000		4.12			-		-
Total FHLB advances	$	231,350,000		2.86	%	$	52,500,000		4.36	%

*Of the advances outstanding, a portion have putable options which allow the FHLB, at its discretion, to terminate the advances and require the subsidiary banks to repay at predetermined dates prior to the stated maturity date of the advances.

Advances are collateralized by securities with a carrying value of $0 and $87,061,601 as of December 31, 2014 and 2013, respectively, and by loans of $499,084,047 and $543,076,034, respectively, in aggregate. On pledged loans, the FHLB applies varying collateral maintenance levels from 125% to 333% based on the loan type.

As of December 31, 2014 and included with the 2015 maturity grouping above are $37.0 million of short-term advances from the FHLB. These advances have maturities ranging from 2 weeks to 1 month. Short-term and overnight advances totaled $42.0 million as of December 31, 2013 and had maturities ranging from 1 day to 6 months.