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Note 8 - Federal Home Loan Bank Advances | 12 Months Ended
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Dec. 31, 2013
Disclosure Text Block [Abstract] |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 8. Federal Home Loan Bank Advances The subsidiary banks are members of the FHLB of Des Moines or Chicago. As of December 31, 2013 and 2012, the subsidiary banks held $12,343,500 and $11,986,400, respectively, of FHLB stock, which is included in restricted investment securities on the consolidated balance sheets. During the first quarter of 2011, QCBT prepaid $15,000,000 of FHLB advances with a weighted average interest rate of 4.87% and a weighted average maturity of May 2012. The fees for prepayment totaled $832,099 and are included in noninterest expenses in the Statement of Income. In addition, QCBT modified $20,350,000 of fixed rate FHLB advances with a weighted average interest rate of 4.33% and a weighted average maturity of October 2013 into new fixed rate FHLB advances with a weighted average interest rate of 3.35% and a weighted average maturity of February 2014. During the fourth quarter of 2011, RB&T modified $13,000,000 of fixed rate FHLB advances with a weighted average rate of 3.37% and a weighted average maturity of March 2013 into new fixed rate FHLB advances with a weighted average interest rate of 2.29% and a weighted average maturity of February 2016. 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 prepayments during 2013 or 2012. Maturity and interest rate information on advances from FHLB as of December 31, 2013 and 2012 is as follows:
|  | December 31, 2013 |
|  | Amount Due |  |  | Weighted Average Interest Rate at Year-End |  |  | Amount Due with Putable Option * |  |  | Weighted Average Interest Rate 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 |  |
|  | December 31, 2012 |
|  | Amount Due |  |  | Weighted Average Interest Rate at Year-End |  |  | Amount Due with Putable Option * |  |  | Weighted Average Interest Rate at Year-End |
Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ending December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2013 |  | $ | 24,000,000 |  |  |  | 1.50 | % |  |  | $ | - |  |  |  | - | % |
2014 |  |  | 27,850,000 |  |  |  | 3.16 |  |  |  |  | - |  |  |  | - |  |
2015 |  |  | 16,000,000 |  |  |  | 2.84 |  |  |  |  | - |  |  |  | - |  |
2016 |  |  | 57,500,000 |  |  |  | 4.19 |  |  |  |  | 47,500,000 |  |  |  | 4.64 |  |
2017 |  |  | 36,000,000 |  |  |  | 3.89 |  |  |  |  | 20,000,000 |  |  |  | 4.51 |  |
Thereafter |  |  | 41,000,000 |  |  |  | 3.58 |  |  |  |  | 33,000,000 |  |  |  | 3.64 |  |
Total FHLB advances |  | $ | 202,350,000 |  |  |  | 3.45 |  |  |  | $ | 100,500,000 |  |  |  | 4.29 |  |
*Of the advances outstanding, a large 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 $87,061,601 and $18,959,669 as of December 31, 2013 and 2012, respectively, and by loans pledged of $543,076,034 and $423,179,584, respectively, in aggregate. On pledged loans, the FHLB applies varying collateral maintenance levels from 125% to 333% based on the loan type.

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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