XML 82 R17.htm IDEA: XBRL DOCUMENT v3.19.3
Note 9 - Borrowings
 9 Months Ended
Sep. 30, 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:
 
   
September 30, 2019
    
December 31, 2018
  
(Amounts in thousands)
  
Balance
    
Weighted
Average Rate
    
Balance
    
Weighted
Average Rate
  
Short-term borrowings
                                
Retail repurchase agreements
   $
1,863
      
0.13
 %   $
4,370
      
0.12
 %
Long-term borrowings
                                
Wholesale repurchase agreement
    
-
      
 
      
25,000
      
3.18
 %
Total borrowings
   $
1,863
      
 
     $
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 of
2019.
The Company repaid the borrowing with current liquidity.
 
As of
September 30, 2019,
the Company had
no
long-term borrowings.
 
Unused borrowing capacity with the FHLB totaled
$367.32
million, net of FHLB letters of credit of
$138.99
million, as of
September 30, 2019.
As of
September 30, 2019,
the Company pledged
$790.52
million in qualifying loans to secure the FHLB borrowing capacity.
 
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 matures in
April 2020.
There was
no
outstanding balance on the line as of
September 30, 2019,
or
December 31, 2018.