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Note 10 - FHLB Advances | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 10. FHLB Advances The subsidiary banks are members of the FHLB of Des Moines or Chicago. Maturity and interest rate information on advances from the FHLB as of December 31, 2018 and 2017 is as follows:
|  | December 31, 2018 |  | December 31, 2017 |
|  |  |  |  | Weighted |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  | Average |
|  |  |  |  | Interest Rate |  |  |  |  | Interest Rate |
|  | Amount Due |  | at Year-End |  | Amount Due |  | at Year-End |
Maturity: |  |  |  |  |  |  |  |  |  |  |
Year ending December 31: |  |  |  |  |  |  |  |  |  |  |
2018 |  | $ | — |  | — |  | $ | 190,400,000 |  | 1.82 | %
2019 |  |  | 239,957,672 |  | 2.60 |  |  | — |  | — |
2020 |  |  | 11,484,203 |  | 1.74 |  |  | 1,600,000 |  | 1.75 |
2021 |  |  | 15,050,164 |  | 2.32 |  |  | — |  | — |
Total FHLB advances |  | $ | 266,492,039 |  | 2.55 | % | $ | 192,000,000 |  | 1.82 | %
Advances are collateralized by loans of $1.3 billion and $850.1 million as of December 31, 2018 and 2017, respectively, in aggregate. On pledged loans, the FHLB applies varying collateral maintenance levels from 125% to 333% based on the loan type. Advances are also collateralized by securities of $26.9 million and $6.7 million as of December 31, 2018 and 2017, respectively, in aggregate. The Company continues to pledge loans under blanket liens to provide off balance sheet liquidity. As of December 31, 2018 and included with the 2019 maturity grouping above are $190.2 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 $165.4 million as of December 31, 2017 and had maturities ranging from 1 day to 1 month. Throughout 2016, the Company executed several balance sheet restructuring strategies in an effort to reduce reliance on wholesale funding. These strategies will continue to be evaluated in the future. A summary of prepayments of FHLB advances related to these restructurings is summarized in the following table for the year ended December 31, 2016.
2016
|  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  | Average |  | Range of |  | Prepayment
Date of Restructuring |  | Amount |  | Interest Rate |  | Maturity Dates |  | Fees
First Quarter of 2016 |  | $ | 10,000,000 |  | 3.86 | % | December 2017 |  | $ | 524,197
Third Quarter of 2016 |  |  | 5,000,000 |  | 2.84 | % | February 2018 |  |  | 127,310
Fourth Quarter of 2016 |  |  | 15,000,000 |  | 3.14 | % | September 2017 to November 2017 |  |  | 357,161
Total for 2016 |  | $ | 30,000,000 |  | 3.33 | % |  |  | $ | 1,008,668
All prepayment fees shown in the table above are included in losses on debt extinguishment in the statements of income. As of December 31, 2018 and 2017, the subsidiary banks held $15.7 million and $11.7 million, respectively, of FHLB stock, which is included in restricted investment securities on the consolidated balance sheet.

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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://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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