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Note 8 - Borrowings | 3 Months Ended
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Mar. 31, 2018
Notes to Financial Statements |
Debt Disclosure [Text Block] | Note 8 . Borrowings The following table presents the components of borrowings as of the dates indicated:
|  | March 31, 2018 |  |  | December 31, 2017 |
(Amounts in thousands) |  | Balance |  |  | Weighted Average Rate |  |  | Balance |  |  | Weighted Average Rate |
Short-term borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail repurchase agreements |  | $ | 4,115 |  |  |  | 0.09 | % |  | $ | 5,086 |  |  |  | 0.07 | %
Long-term borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wholesale repurchase agreements |  |  | 25,000 |  |  |  | 3.18 | % |  |  | 25,000 |  |  |  | 3.18 | %
FHLB advances |  |  | 50,000 |  |  |  | 4.00 | % |  |  | 50,000 |  |  |  | 4.00 | %
Total borrowings |  | $ | 79,115 |  |  |  |  |  |  | $ | 80,086 |  |  |  |  |
The following schedule presents the contractual and weighted average maturities of long-term borrowings, by year, as of March 31, 2018:
|  | Wholesale Repurchase Agreements |  |  | FHLB Borrowings |  |  | Total |
(Amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |
2018 |  | $ | - |  |  | $ | - |  |  | $ | - |
2019 |  |  | 25,000 |  |  |  | - |  |  |  | 25,000 |
2020 |  |  | - |  |  |  | - |  |  |  | - |
2021 |  |  | - |  |  |  | 50,000 |  |  |  | 50,000 |
2022 |  |  | - |  |  |  | - |  |  |  | - |
2023 and thereafter |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 25,000 |  |  | $ | 50,000 |  |  | $ | 75,000 |
Weighted average maturity (in years) |  |  | 0.91 |  |  |  | 2.77 |  |  |  | 2.15 |
Prepayment of an advance may result in substantial penalties based on the differential between the contractual note and current advance rate for similar maturities. The Company pledged certain loans to secure an FHLB advance and letters of credit totaling $903.13 million as of March 31, 2018. Unused borrowing capacity with the FHLB totaled $392.85 million, net of FHLB letters of credit of $130.58 million, as of March 31, 2018. The FHLB letters of credit provide an attractive alternative to pledging securities for public unit deposits. Investment securities pledged to secure repurchase agreements remain under the Company’s control during the agreements’ terms. The counterparties may redeem callable repurchase agreements, which could substantially shorten the borrowings’ lives. The prepayment or early termination of a repurchase agreement may result in substantial penalties based on market conditions. The following schedule presents the contractual maturities of repurchase agreements, by type of collateral pledged, as of March 31, 2018:
|  | U.S. Treasury Securities |  |  | U.S. Agency Securities |  |  | Municipal Securities |  |  | Mortgage-backed Agency Securities |  |  | Total |
(Amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Overnight and continuous |  | $ | - |  |  | $ | - |  |  | $ | 2,378 |  |  | $ | 1,660 |  |  | $ | 4,038 |
Up to 30 days |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
30 - 90 days |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 77 |  |  |  | 77 |
Greater than 90 days |  |  | 9,000 |  |  |  | 4,680 |  |  |  | - |  |  |  | 11,320 |  |  |  | 25,000 |
|  | $ | 9,000 |  |  | $ | 4,680 |  |  | $ | 2,378 |  |  | $ | 13,057 |  |  | $ | 29,115 |
The Company maintains a $15.00 million unsecured, committed line of credit with an unrelated financial institution with an interest rate of one -month LIBOR plus 2.00% that matured in April 2018 and was renewed until April 2019. There was no outstanding balance on the line as of March 31, 2018, or December 31, 2017.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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