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Advances from Federal Home Loan Bank

12 Months Ended

Dec. 31, 2019

Advances from Federal Home Loan Bank [Abstract]

Advances from Federal Home Loan Bank

13.  Advances from Federal Home Loan Bank

Federal Home Loan Bank advances consisted of the following monthly amortizing borrowings at December 31:

(in thousands)		2019				2018
Monthly amortizing		$	415			$	436
Total FHLB advances		$	415			$	436

The advances from the FHLB that require monthly principal payments were due for repayment as follows:

		Principal Payments Due by Period at December 31, 2019
(in thousands)		Total				Within 1 Year				2 Years				3 Years				4 Years				5 Years				After 5 Years
Outstanding advances, weighted average interest rate – 0.06%		$	415			$	22			$	20			$	21			$	20			$	21			$	311

At December 31, 2019, CTBI had monthly amortizing FHLB advances totaling $0.4 million at a weighted average interest rate of 0.06%.

Advances totaling $0.4 million at December 31, 2019 were collateralized by FHLB stock of $10.5 million and a blanket lien on qualifying 1-4 family first mortgage loans.  As of December 31, 2019, CTBI had a $606.7 million FHLB borrowing capacity with $0.4 million in advances and $214.4 million in letters of credit used for public fund pledging leaving $391.9 million available for additional advances.  The advances had fixed interest rates of 0.00%% and 2.00% with a weighted average rate of 0.06%.  The advances are subject to restrictions or penalties in the event of prepayment.

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- References

No definition available.

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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

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