OTHER BORROWINGS:

12 Months Ended

Dec. 31, 2018

Other Borrowings Disclosure [Abstract]

OTHER BORROWINGS:

At December 31, 2018 and 2017, other borrowings are summarized as follows: The Corporation's subsidiary banks are members of the Federal Home Loan Bank (FHLB) and accordingly are permitted to obtain advances. There are no advances from the FHLB at December 31, 2018, and December 31, 2017, which accrue interest, payable monthly, at annual rates, primarily fixed, varying from 1.6% to 2.4% in 2018 and 0.8% to 6.6% in 2017. FHLB advances are, generally, due in full at maturity. They are secured by eligible securities totaling $99.4 million at December 31, 2018, and $120.1 million at December 31, 2017, and a blanket pledge on real estate loan collateral. Based on this collateral and the Corporation's holdings of FHLB stock, the Corporation is eligible to borrow up to $197.4 million at year end 2018. Certain advances may be prepaid, without penalty, prior to maturity. The FHLB can adjust the interest rate from fixed to variable on certain advances, but those advances may then be prepaid, without penalty.