XML 35 R21.htm IDEA: XBRL DOCUMENT v3.19.1
Long-term Debt
 12 Months Ended
Dec. 31, 2018
Maturities Of Long Term Debt [Abstract]  
Long-term Debt

(13)

Long-term Debt

The Bank is a member of the FHLB, and through its membership, the Bank can access a number of credit products which are utilized to provide liquidity.  As of December 31, 2018 and 2017, the Bank had long-term debt outstanding in the amount of $48,024,000 and $12,352,000, respectively, consisting of FHLB fixed rate instruments.  The obligations are secured under the terms of a blanket collateral agreement with the FHLB consisting of FHLB stock and qualifying Mid Penn loan receivables, principally real estate secured loans totaling $507,462,000.  The following table presents a summary of long-term debt as of December 31, 2018 and December 31, 2017.  

(Dollars in thousands)

 

At December 31,

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

Due July 2019, 1.64%

 

$

2,000

 

 

$

—

 

Due December 2019, 1.87%

 

 

10,000

 

 

 

10,000

 

Due January 2020, 3.00%

 

 

5,000

 

 

 

—

 

Due February 2020, 3.01%

 

 

5,000

 

 

 

—

 

Due March 2020, 3.02%

 

 

5,000

 

 

 

—

 

Due April 2020, 3.03%

 

 

5,000

 

 

 

—

 

Due June 2020, 1.72%

 

 

2,000

 

 

 

—

 

Due August 2020, 3.05%

 

 

5,000

 

 

 

—

 

Due October 2020, 3.06%

 

 

5,000

 

 

 

—

 

Due December 2020, 1.78%

 

 

2,000

 

 

 

—

 

Due August 2026, 4.80%

 

 

2,076

 

 

 

2,295

 

Due February 2027, 6.71%

 

 

52

 

 

 

57

 

 

 

 

48,128

 

 

 

12,352

 

Less: fair value adjustment on debt assumed from acquisitions

 

 

104

 

 

 

—

 

 

 

$

48,024

 

 

$

12,352

 

 

The aggregate principal amounts due on long-term debt subsequent to December 31, 2018 are $12,234,000 (2019), $34,246,000 (2020), $258,000 (2021), $271,000 (2022), $284,000 (2023) and $835,000 thereafter.