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Note 9 - Borrowings

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Debt Disclosure [Text Block]

Note

9

. Borrowings

The following table presents the components of borrowings as of the dates indicated:

		March 31, 2019								December 31, 2018
(Amounts in thousands)		Balance				Weighted Average Rate				Balance				Weighted Average Rate
Short-term borrowings
Retail repurchase agreements		$	3,700				0.13	%		$	4,370				0.12	%
Long-term borrowings
Wholesale repurchase agreement			-								25,000				3.18	%
Total borrowings		$	3,700							$	29,370

Repurchase agreements are secured by certain securities that remain under the Company’s control during the terms of the agreements. The Company’s remaining wholesale repurchase agreement of

$25

million matured during the

first

quarter. The Company repaid the borrowing with current liquidity.

As of

March 31, 2019,

the Company had

no

long-term borrowings.

Unused borrowing capacity with the FHLB totaled

$397.66

million, net of FHLB letters of credit of

$144.38

million, as of

March 31, 2019.

As of

March 31, 2019,

the Company pledged

$856.76

million in qualifying loans to secure the FHLB letters of credit, which provide an attractive alternative to pledging securities for public unit deposits.

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 renewed in

April 2019.

There was

no

outstanding balance on the line as of

March 31, 2019,

or

December 31, 2018.

X

- 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

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X

- References

No definition available.

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