LONG-TERM DEBT

12 Months Ended

Dec. 31, 2018

The following table presents components of the Company’s long-term debt at December 31.


	Amount						Weighted Average rate
(Dollars in thousands)	2018		2017		2018		2017
FHLB fixed rate advances maturing:
2019	$	40,000	$	40,000	1.86	%	1.86	%
2020	40,350		40,350		1.76	%	1.76	%

	80,350		80,350		1.81	%	1.81	%
FHLB amortizing advance requiring monthly principal and interest payments, maturing:
2025	3,100		3,465		4.74	%	4.74	%


Total FHLB Advances	$	83,450	$	83,815	1.92	%	1.93	%

Except for amortizing advances, interest only is paid on a quarterly basis.

The following table summarizes the aggregate amount of future principal payments required on these borrowings at December 31, 2018:


Years Ending December 31,
(Dollars in thousands)
2019	$	40,382
2020	40,751
2021	421
2022	441
2023	462
Thereafter	993
	$	83,450

The Bank is a member of the FHLB of Pittsburgh and has available the FHLB program of overnight and term advances. Under terms of a blanket collateral agreement for advances, lines and letters of credit from the FHLB, collateral for all outstanding advances, lines and letters of credit consisted of 1-4 family mortgage loans and other real estate secured loans totaling $554,306,000 at December 31, 2018. The Bank had additional availability of $330,306,000 at the FHLB on December 31, 2018 based on its qualifying collateral, net of short-term borrowings and long-term debt detailed above, deposit letters of credit totaling $84,000,000 and non-deposit letters of credit totaling $1,550,000 at December 31, 2018.

The Bank has available unsecured lines of credit, with interest based on the daily Federal Funds rate, with two correspondent banks totaling $30,000,000, at December 31, 2018. The Company also has a $5,000,000 unsecured line of credit, with a bank, at the prime rate of interest, at December 31, 2018. There were no borrowings under these lines of credit at December 31, 2018 and 2017.