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Note 10 - Short-term Borrowings | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Short-term Debt [Text Block] |
10. | SHORT-TERM BORROWINGS
For 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) |  | 2018 |  |  | 2017 |
Balance at year-end |  | $ | 90,398 |  |  | $ | 74,707 |
Average balance outstanding |  |  | 42,231 |  |  |  | 63,910 |
Maximum month-end balance |  |  | 101,857 |  |  |  | 114,025 |
Weighted-average rate at year-end |  |  | 2.53 | % |  |  | 1.36 | %
Weighted-average rate during the year |  |  | 1.99 | % |  |  | 1.18 | %
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 $6.0 million line of credit at an adjustable rate, currently 5.75%, a $10.0 million line of credit at an adjustable rate, currently at 5.65%, and a $4.0 million line of credit at an adjustable rate, currently 5.81%. At December 31, 2018, and 2017, there were no outstanding borrowings under these lines of credit. The additional borrowing capacity on FHLB advances was $27.0 million and $41.5 million at December 31, 2018 and 2017, respectively. The Company ended its participation in repurchase agreements in the fourth quarter of 2018. As such, the Company has no recognized liability related to repurchase agreements as of December 31, 2018, but retains ownership of securities purchased for this purpose in the amount of $2.4 million as of this date. The following table provides detail regarding collateral pledged to secure the Company’s repurchase agreements, which are overnight and continuous, as of December 31, 2017:
(Dollar amounts in thousands) |  | December 31, 2017 |
Repurchase agreements secured by: |  |  |  |
Mortgage-backed securities in government sponsored entities |  | $ | 2,040 |
Tax-exempt obligations of states and political subdivisions |  |  | 495 |
Gross amount of pledged collateral |  |  | 2,535 |
Gross amount of recognized liabilities |  | $ | 1,989 |

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- Definition The entire disclosure for short-term debt. + 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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