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Note 10 - Borrowings
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Debt Disclosure [Text Block]
Note
10
. Borrowings
 
The following table presents the components of borrowings as of the dates indicated:
 
   
March 31, 2020
    
December 31, 2019
  
(Amounts in thousands)
  
Balance
    
Weighted
Average Rate
    
Balance
    
Weighted
Average Rate
  
Short-term borrowings
                                
Short-term debt
   $
1,000
      
1.70
 %    
-
      
 
  
Retail repurchase agreements
    
1,348
      
0.59
 %   $
1,601
      
0.14
 %
Total borrowings
   $
2,348
      
 
     $
1,601
      
 
  
 
Repurchase agreements are secured by certain securities that remain under the Company’s control during the terms of the agreements.
 
As of
March 31, 2020,
the Company had
no
long-term borrowings.
 
Unused borrowing capacity with the FHLB totaled
$235.67
million, net of FHLB letters of credit of
$169.07
million, as of
March 31, 2020.
As of
March 31, 2020,
the Company pledged
$703.90
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.
At the end of
March
the line was tested with a
$1.00
million draw on the line; the draw was repaid early
April 2020.
There was
no
outstanding balance on the line as of
December 31, 2019.