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Note 5 - Federal Home Loan Bank Advances | 6 Months Ended
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Jun. 30, 2015
Disclosure Text Block [Abstract] |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 5 – FEDERAL HOME LOAN BANK ADVANCES The subsidiary banks are members of the FHLB of Des Moines or Chicago. As of June 30, 2015 and December 31, 2014, the subsidiary banks held $9,128,400 and $11,279,000, respectively, of FHLB stock, which is included in restricted investment securities on the consolidated balance sheet. During the second quarter of 2015, QCBT and CRBT prepaid a total of $75,500,000 of fixed rate FHLB advances with a weighted average interest rate of 4.36% and maturity dates ranging from May 2016 to June 2019. The prepayment fees associated with these advances totaled $5,692,185 and are included in losses on debt extinguishment in the statements of income (loss). The prepayments were a part of the Company’s balance sheet restructuring, which is described in Note 7 to the Consolidated Financial Statements. Maturity and interest rate information on advances from the FHLB as of June 30, 2015 and December 31, 2014 is as follows:
|  | June 30, 2015 |
|  |  |  |  |  | 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 |  | $ | 67,500,000 |  |  |  | 0.37 | % |  | $ | - |  |  |  | - | %
2016 |  |  | 14,000,000 |  |  |  | 2.08 |  |  |  | 2,000,000 |  |  |  | 4.00 |
2017 |  |  | 18,000,000 |  |  |  | 2.89 |  |  |  | - |  |  |  | - |
2018 |  |  | 33,000,000 |  |  |  | 3.33 |  |  |  | 5,000,000 |  |  |  | 2.84 |
Total FHLB advances |  | $ | 132,500,000 |  |  |  | 1.63 | % |  | $ | 7,000,000 |  |  |  | 3.17 | %
|  | 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 | %
*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. The amount of advances with putable options decreased $45.5 million from December 31, 2014 to June 30, 2015 due to the prepayment of advances having putable options. Advances are collateralized by loans totaling $477,942,256 and $499,084,047, in aggregate, as of June 30, 2015 and December 31, 2014, respectively. On pledged loans, the FHLB applies varying collateral maintenance levels from 125% to 333% based on the loan type. No securities were pledged as collateral on advances as of June 30, 2015 or December 31, 2014. As of June 30, 2015 and included with the 2015 maturity grouping above are $58.5 million of short-term and overnight advances from the FHLB. These advances have maturities ranging from one day to one month. 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 two weeks to one month.

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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 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 2: 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 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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