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Federal Home Loan Bank Advances
 12 Months Ended
Dec. 31, 2016
Advances from Federal Home Loan Banks [Abstract]  
Federal Home Loan Bank Advances

Note 10 – Federal Home Loan Bank Advances

 

At December 31, advances from the FHLB were as follows:

 

(Dollars in thousands)   2016     2015  
             
Maturity of November 2024 with fixed interest rate of 3.98%   $ 301     $ 332  
Maturities ranging from January 2017 to March 2017, fixed interest rates ranging from 0.81% to 0.88%, with an average of 0.86%     12,000       —  
Maturity of February 2016 with fixed interest rate of 0.47%             11,000  
Total advances outstanding at year-end   $ 12,301     $ 11,332  

 

Fees are charged on fixed rate advances that are paid prior to maturity. No fixed rate advances were paid prior to maturity in 2016 or 2015. Advances were secured by agricultural loans and residential real estate loans with a carrying value of approximately $92.3 million and $107.6 million at December 31, 2016 and December 31, 2015, respectively. Advances were also secured by $24.2 million of U.S. Government agency securities and U.S. Treasury securities at December 31, 2015. Based on this collateral, the Bank was eligible to borrow an additional $41.7 million at year-end 2016.

 

The scheduled maturities of advances from the FHLB at December 31, 2016 were as follows:

 

(Dollars in thousands)          
           
2017     $ 12,033  
2018       34  
2019       36  
2020       37  
2021       39  
Thereafter       122  
     Total     $ 12,301