BORROWINGS	12 Months Ended
Dec. 31, 2019
BORROWINGS
BORROWINGS	NOTE 11 – BORROWINGS There were no Federal Home Loan Bank of Chicago (FHLB) borrowings outstanding as of December 31, 2019 and 2018. Available borrowings from the FHLB are secured by FHLB stock held by the Company and pledged security in the form of qualifying loans. The total amount of loans pledged as of December 31, 2019 and 2018 was $548,229,000 and $538,537,000, respectively. As of December 31, 2019 and 2018, loans pledged also served as collateral for credit exposure of approximately $355,000 associated with the Banks’ participation in the FHLB’s Mortgage Partnership Finance Program. The Banks also have available a line of credit from the FHLB with available borrowings based on the collateral pledged. There was no outstanding balance under the line of credit as of December 31, 2019 and 2018. The line, when drawn upon, is due on demand and bears interest at a variable rate. State Bank of Lincoln also has available a line of credit from the Federal Reserve Bank of Chicago (FRB) with available borrowings based on the collateral pledged. As of December 31, 2019 and 2018, the carrying value of securities pledged amounted to $515,000 and $490,000, respectively. There was no outstanding balance under the line of credit as of December 31, 2019 and 2018. The line, when drawn upon, is due on demand and bears interest at a variable rate.

BORROWINGS

12 Months Ended

Dec. 31, 2019

NOTE 11 – BORROWINGS

There were no Federal Home Loan Bank of Chicago (FHLB) borrowings outstanding as of December 31, 2019 and 2018. Available borrowings from the FHLB are secured by FHLB stock held by the Company and pledged security in the form of qualifying loans. The total amount of loans pledged as of December 31, 2019 and 2018 was $548,229,000 and $538,537,000, respectively. As of December 31, 2019 and 2018, loans pledged also served as collateral for credit exposure of approximately $355,000 associated with the Banks’ participation in the FHLB’s Mortgage Partnership Finance Program.

The Banks also have available a line of credit from the FHLB with available borrowings based on the collateral pledged. There was no outstanding balance under the line of credit as of December 31, 2019 and 2018. The line, when drawn upon, is due on demand and bears interest at a variable rate.

State Bank of Lincoln also has available a line of credit from the Federal Reserve Bank of Chicago (FRB) with available borrowings based on the collateral pledged. As of December 31, 2019 and 2018, the carrying value of securities pledged amounted to $515,000 and $490,000, respectively. There was no outstanding balance under the line of credit as of December 31, 2019 and 2018. The line, when drawn upon, is due on demand and bears interest at a variable rate.