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Note 10 - Short-term Borrowings | 12 Months Ended
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Dec. 31, 2015
Disclosure Text Block [Abstract] |
Short-term Debt [Text Block] |
10. | SHORT-TERM BORROWINGS
The year ended December 31 outstanding balances and related information of short-term borrowings, which includes securities sold under agreements to repurchase and short-term borrowings from other banks, are summarized as follows:
(Dollar amounts in thousands) |  | 2015 |  |  | 2014 |
Balance at year-end |  | $ | 35,825 |  |  | $ | 14,808 |
Average balance outstanding |  |  | 11,768 |  |  |  | 8,379 |
Maximum month-end balance |  |  | 35,825 |  |  |  | 19,970 |
Weighted-average rate at year-end |  |  | 1.37 | % |  |  | 0.98 | %
Weighted-average rate during the year |  |  | 1.65 | % |  |  | 1.77 | %
Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expense divided by the related average balance. The Company maintains a $4.0 million line of credit at an adjustable rate, currently 3.92%, a $3.0 million line of credit at an adjustable rate, currently at 4.00%, and a $2.5 million line of credit at an adjustable rate, currently 3.75%. At December 31, 2015, 2014, and 2013, outstanding borrowings under these lines were $9.5 million, $3.1 million, and $3.9 million, respectively. The following table provides additional detail regarding short-term borrowed funds.
|  | Repurchase Agreements (Sweep) Accounted for as Secured Borrowings (in thousands) Overnight and Continuous |
|  | December 31, 2015 |  |  | December 31, 2014 |
Repurchase agreements: |  |  |  |  |  |  |  |
U.S. Government agency securities |  | $ | 1,052 |  |  | $ | 1,090 |
Mortgage-backed securities in government-sponsored entities |  |  | 1,877 |  |  |  | 2,091 |
|  | $ | 2,929 |  |  | $ | 3,181 |

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