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Note 11 - Borrowing Arrangements | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Debt Disclosure [Text Block] | NOTE 11 - BORROWING ARRANGEMENTS The Company has established secured and unsecured lines of credit. The Company may borrow funds from time to time on a term or overnight basis from the Federal Home Loan Bank of San Francisco ("FHLB"), the Federal Reserve Bank of San Francisco ("FRB") and other financial institutions as indicated below. Federal Funds Arrangements with Commercial Banks. At September 30, 2020, the Company may borrow on an unsecured basis, up to $20.0 million, $10.0 million, $12.0 million and $50.0 million overnight from Zions Bank, Wells Fargo Bank, First Horizon National Bank, and Pacific Coast Bankers' Bank, respectively. Letter of Credit Arrangements. At September 30, 2020, the Company had an unsecured commercial letter of credit line with Wells Fargo Bank for $2.0 million. FRB Secured Line of Credit. The secured borrowing capacity with the FRB of $14.9 million million at September 30, 2020 is collateralized by loans pledged with a carrying value of $28.6 million. FHLB Secured Line of Credit. The secured borrowing capacity with the FHLB of $859.9 million at September 30, 2020 is collateralized by loans pledged with a carrying value of $1.1 billion. FHLB Advances. At September 30, 2020, the Company had $40.0 million in overnight advances at a rate of 0.18%, and $150.0 million at a weighted average rate of 1.18% in long-term (five year) advances with the FHLB. There were no overnight or long-term advances at December 31, 2019. The Company paid interest expenses of $444,000 and $1.0 million on such FHLB advances for the three and nine months ended September 30, 2020. There were no amounts outstanding under any of the other borrowing arrangements above as of September 30, 2020 and at December 31, 2019 except FHLB advances maturing in 2025.

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- 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 + Details
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