BORROWED FUNDS AND REPURCHASE AGREEMENTS (Tables)

12 Months Ended

Dec. 31, 2018

BORROWED FUNDS AND REPURCHASE AGREEMENTS [Abstract]

The following table shows the breakdown of borrowed funds as of December 31, 2018 and 2017 (dollars in thousands):

	Securities
	Sold Under																		Total
	Agreements to			FHLB			Federal Funds			FRB			Notes			Term			Borrowed
	Repurchase(a)			Advances(b)			Lines (c)			BIC Line (d)			Payable(e)			Loans(f)			Funds
2018
Balance at December 31	$	17,983		$	52,186		$	-		$	-		$	7,500		$	13,525		$	91,194
Highest balance at any month-end		17,983			114,817			-			-			7,500			14,525			154,825
Average balance		15,226			81,123			-			12			7,500			14,051			117,912
Weighted average interest rate:
Paid during the year		1.77	%		2.06	%		2.38	%		2.47	%		5.03	%		2.44	%		2.26	%
As of year-end		2.19	%		2.62	%		0.00	%		0.00	%		5.56	%		2.40	%		2.74	%
2017
Balance at December 31	$	14,989		$	77,650		$	-		$	-		$	7,500		$	14,525		$	114,664
Highest balance at any month-end		16,643			78,858			-			-			7,500			16,525			119,526
Average balance		15,598			29,409			1			2			7,500			16,026			68,536
Weighted average interest rate:
Paid during the year		0.97	%		1.25	%		1.52	%		1.75	%		4.06	%		2.44	%		1.77	%
As of year-end		1.37	%		1.54	%		0.00	%		0.00	%		4.40	%		2.42	%		1.82	%

Remaining Contractual Maturity of Repurchase Agreements

The collateral pledged on the repurchase agreements by the remaining contractual maturity of the repurchase agreements in the Consolidated Balance Sheets as of December 31 and is presented in the following tables (in thousands).

	Remaining Contractual Maturity of the Agreements
	Overnight and		Up to				Greater than
2018	Continuous		30 Days		30 - 90 Days		90 days		Total
Repurchase Agreements:
U.S. agency securities	$	18,970	$	-	$	-	$	2,008	$	20,978
Total carrying value of collateral pledged	$	18,970	$	-	$	-	$	2,008	$	20,978
Total liability recognized for repurchase agreements									$	17,983

2017
Repurchase Agreements:
U.S. agency securities	$	16,027	$	-	$	-	$	2,035	$	18,062
Total carrying value of collateral pledged	$	16,027	$	-	$	-	$	2,035	$	18,062
Total liability recognized for repurchase agreements									$	14,989

Federal Home Loan Bank Loans by Branch

Interest Rate					December 31,			December 31,
Fixed:			Maturity		2018			2017
	2.72	%	July 12, 2018			-			1,000
	1.87	%	February 4, 2019			2,000			2,000
	2.61	%	February 3, 2021			2,000			2,000
	3.52	%	July 12, 2021			2,000			2,000
	2.37	%	August 20, 2021			2,800			2,800
	2.08	%	January 6, 2022			4,725			4,725
Total term loans				$	13,525		$	14,525

Maturities of Borrowed Funds

Following are maturities of borrowed funds as of December 31, 2018 (in thousands):

2019	$	78,546
2020		589
2021		7,334
2022		4,725
2023		-
Thereafter		-
Total borrowed funds	$	91,194