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Other Borrowed Funds | 9 Months Ended
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Sep. 30, 2019
Other Borrowed Funds [Abstract] |
Other Borrowed Funds | Note 11 - Other Borrowed Funds Other Borrowings of $129.6 million at September 30, 2019 are composed of advances from the Federal Home Loan Bank of Atlanta (“FHLB”). The Company utilizes the FHLB advance programs to fund loan growth and provide liquidity. Other borrowings increased $56.5 million from $73.1 million at December 31, 2018. FHLB advances outstanding and related terms at September 30, 2019 and December 31, 2018 are shown in the following tables:
(In thousands) |  |  |  |  | FHLB Advances Outstanding September 30, 2019 |
Type advance |  | Balance |  |  | Interest rate |  |  | Maturity date |
Fixed rate |  | $ | 15,000 |  |  |  | 2.31 | % |  |  | October 1, 2019 |
Fixed rate |  |  | 5,000 |  |  |  | 2.58 | % |  |  | October 4, 2019 |
Fixed rate |  |  | 5,000 |  |  |  | 2.15 | % |  |  | October 16, 2019 |
Fixed rate |  |  | 4,000 |  |  |  | 2.59 | % |  |  | October 23, 2019 |
Fixed rate |  |  | 3,500 |  |  |  | 2.58 | % |  |  | October 30, 2019 |
Fixed rate |  |  | 25,000 |  |  |  | 2.24 | % |  |  | November 4, 2019 |
Fixed rate |  |  | 10,000 |  |  |  | 2.13 | % |  |  | November 29, 2019 |
Fixed rate |  |  | 7,000 |  |  |  | 2.51 | % |  |  | November 29, 2019 |
Fixed rate |  |  | 10,000 |  |  |  | 2.46 | % |  |  | December 4, 2019 |
Daily rate |  |  | 10,000 |  |  |  | 2.07 | % |  |  | December 30, 2019 |
Fixed rate |  |  | 26,100 |  |  |  | 2.49 | % |  |  | May 4, 2020 |
Fixed rate |  |  | 5,000 |  |  |  | 1.99 | % |  |  | May 6, 2020 |
Fixed rate |  |  | 4,000 |  |  |  | 2.15 | % |  |  | September 9, 2020 |
FHLB Advances, net |  | $ | 129,600 |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  | FHLB Advances Outstanding December 31, 2018 |
Type advance |  | Balance |  |  | Interest rate |  |  | Maturity date |
Fixed rate |  | $ | 5,000 |  |  |  | 2.42 | % |  |  | January 3, 2019 |
Fixed rate |  |  | 2,800 |  |  |  | 2.40 | % |  |  | January 7, 2019 |
Fixed rate |  |  | 4,500 |  |  |  | 2.38 | % |  |  | January 9, 2019 |
Fixed rate |  |  | 5,000 |  |  |  | 2.46 | % |  |  | January 16, 2019 |
Fixed rate |  |  | 1,200 |  |  |  | 2.49 | % |  |  | January 18, 2019 |
Fixed rate |  |  | 8,000 |  |  |  | 2.47 | % |  |  | January 31, 2019 |
Fixed rate |  |  | 3,000 |  |  |  | 2.51 | % |  |  | March 8, 2019 |
Fixed rate |  |  | 2,000 |  |  |  | 2.54 | % |  |  | March 19, 2019 |
Fixed rate |  |  | 5,000 |  |  |  | 2.55 | % |  |  | April 1, 2019 |
Fixed rate |  |  | 3,500 |  |  |  | 2.62 | % |  |  | April 30, 2019 |
Fixed rate |  |  | 4,000 |  |  |  | 1.34 | % |  |  | May 31, 2019 |
Fixed rate |  |  | 2,000 |  |  |  | 2.66 | % |  |  | June 19, 2019 |
Fixed rate |  |  | 1,000 |  |  |  | 3.95 | % |  |  | August 27, 2019 |
Daily rate |  |  | 22,100 |  |  |  | 2.65 | % |  |  | August 30, 2019 |
Fixed rate |  |  | 4,000 |  |  |  | 2.13 | % |  |  | September 30, 2019 |
FHLB Advances, net |  | $ | 73,100 |  |  |  |  |  |  |  |  |

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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