XML 37 R18.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Note 9 - FHLB Advances | 12 Months Ended
--- | ---
Dec. 31, 2015
Disclosure Text Block [Abstract] |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 9. FHLB Advances The subsidiary banks are members of the FHLB of Des Moines or Chicago. As of December 31, 2015 and 2014, the subsidiary banks held $9,135,900 and $11,279,000, respectively, of FHLB stock, which is included in restricted investment securities on the consolidated balance sheet. There were no FHLB advance prepayments or modifications during 2014. 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. The prepayments were a part of the Company’s balance sheet restructuring, which is described in Note 12 to the Consolidated Financial Statements. Additionally, during the fourth quarter of 2015, RBT prepaid a $3,000,000 fixed rate FHLB advance with an interest rate of 3.98% and a maturity date in May 2018. The prepayment fees associated with this advance totaled $209,416 and are included in losses on debt extinguishment in the statements of income. This transaction is part of the Company’s ongoing balance sheet restructuring strategy, which will continue to be evaluated in the future as a way to reduce reliance on wholesale funding. The Company continued this strategy in early 2016, as described in Note 25 to the Consolidated Financial Statements. Maturity and interest rate information on advances from FHLB as of December 31, 2015 and 2014 is as follows:
|  | December 31, 2015 |
|  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2016 |  | $ | 103,000,000 |  |  | 0.56 | % |  |  | $ | 2,000,000 |  |  | 4.00 | % |
2017 |  |  | 18,000,000 |  |  | 2.89 |  |  |  |  | - |  |  | - |  |
2018 |  |  | 30,000,000 |  |  | 3.27 |  |  |  |  | 5,000,000 |  |  | 2.84 |  |
Total FHLB advances |  | $ | 151,000,000 |  |  | 1.37 | % |  |  | $ | 7,000,000 |  |  | 3.17 | % |
|  | December 31, 2014 |
|  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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. Advances are collateralized by loans of $480,466,274 and $499,084,047 as of December 31, 2015 and 2014, respectively, in aggregate. On pledged loans, the FHLB applies varying collateral maintenance levels from 125% to 333% based on the loan type. Although advance balances have decreased significantly in 2015, the Company continues to pledge loans under blanket liens to provide off balance sheet liquidity. As of December 31, 2015 and included with the 2016 maturity grouping above are $84.0 million of short-term advances from the FHLB. These advances have maturities ranging from 1 day to 1 month. Short-term and overnight advances totaled $37.0 million as of December 31, 2014 and had maturities ranging from 2 weeks to 1 month.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_FederalHomeLoanBankAdvancesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration