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Advances from Federal Home Loan Bank | 12 Months Ended
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Dec. 31, 2020
Advances from Federal Home Loan Bank [Abstract] |
Advances from Federal Home Loan Bank | 12. Advances from Federal Home Loan Bank Federal Home Loan Bank advances consisted of the following monthly amortizing borrowings at December 31:
(in thousands) |  | 2020 |  |  | 2019 |
Monthly amortizing |  | $ | 395 |  |  | $ | 415 |
Total FHLB advances |  | $ | 395 |  |  | $ | 415 |
The advances from the FHLB that require monthly principal payments were due for repayment as follows:
|  | Principal Payments Due by Period at December 31, 2020 |
(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% |  | $ | 395 |  |  | $ | 22 |  |  | $ | 20 |  |  | $ | 21 |  |  | $ | 20 |  |  | $ | 21 |  |  | $ | 291 |
At December 31, 2020, 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, 2020 were collateralized by FHLB stock of $10.0 million and a blanket lien on qualifying 1-4 family first mortgage loans. As of December 31, 2020, CTBI had a $531.4 million FHLB borrowing capacity with $0.4 million in advances and $53.8 million in letters of credit used for public fund pledging leaving $477.2 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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- 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=120398452&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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