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Securities Sold under Agreements to Repurchase | 12 Months Ended
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Dec. 31, 2015
Securities Sold under Agreements to Repurchase [Abstract] |
Securities Sold under Agreements to Repurchase [Text Block] | Note 10 – Securities Sold under Agreements to Repurchase Repurchase agreements are secured borrowings. The Company pledges investment securities to secure those borrowings. Information concerning repurchase agreements is summarized as follows:
|  | 2015 |  | 2014 |  | 2013
Average daily balance during the year |  | $ | 22,890 |  | $ | 31,000 |  | $ | 31,000
Average interest rate during the year |  |  | 5.92% |  |  | 5.90% |  |  | 5.90%
Maximum month-end balance during the year |  | $ | 31,000 |  | $ | 31,000 |  | $ | 31,000%
Weighted average interest rate during the year |  |  | 5.92% |  |  | 5.90% |  |  | 5.90%
The table below shows the remaining contractual maturity of agreement by fair value of collateral pledged:
|  | 2015
|  | Remaining Contractual Maturity of the Agreements
|  | Overnight and |  | Up to 30 |  |  |  |  | Greater Than |  |  |
|  | Continuous |  | Days |  | 30-90 Days |  | 90 Days |  | Total
Repurchase agreements and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase-to-maturity transactions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agency securities |  | $ | - |  | $ | - |  | $ | - |  | $ | 6,313 |  | $ | 6,313
Residential mortgage pass-through securities |  |  | - |  |  | - |  |  | - |  |  | 12,589 |  |  | 12,589
Total Borrowings |  | $ | - |  | $ | - |  | $ | - |  | $ | 18,902 |  | $ | 18,902
Amounts related to agreements not included in offsetting disclosure in Note 13 |  | $ | 3,902
The fair value of securities pledged to secure repurchase agreement may decline. The Company manages this risk by having a policy to pledge securities valued at 8% above the gross outstanding balance of repurchase agreement. Securities sold under agreements to repurchase are secured by securities with a carrying amount of $18.8 million and $40.0 million at year-end 2015 and 2014.

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