11.	OTHER BORROWINGS

Other borrowings consist of advances from the FHLB and subordinated debt as follows:

			Weighted-			Stated interest
(Dollar amounts in thousands)	Maturity range		average			rate range
Description	from	to	interest rate			from			to			2018		2017
Fixed-rate amortizing	07/01/25	10/01/28		4.06	%		4.02	%		4.47	%	$	555	$	20,817
Junior subordinated debt	12/21/37	12/21/37		3.83	%		3.05	%		4.19	%		8,248		8,248

Total												$	8,803	$	29,065

The scheduled maturities of other borrowings are as follows:

(Dollar amounts in thousands)
			Weighted-
Year Ending December 31,	Amount		Average Rate
2019	$	154		4.06	%
2020		113		4.06	%
2021		85		4.06	%
2022		63		4.06	%
2023		47		4.06	%
Beyond 2023		8,341		3.83	%

Total	$	8,803		3.84	%

Fixed-rate amortizing advances from the FHLB require monthly principal and interest payments and an annual

percent pay-down of outstanding principal. Monthly principal and interest payments are adjusted after each

percent pay-down. Under the terms of a blanket agreement, FHLB borrowings are secured by certain qualifying assets of the Company which consist principally of

first

mortgage loans or mortgage-backed securities. Under this credit arrangement, the Company has a remaining borrowing capacity of approximately

$211.7

million at

December 31, 2018.

The Company formed a special purpose entity (“Entity”) to issue

$8.0

million of floating rate, obligated mandatorily redeemable securities, and

$248,000

in common securities as part of a pooled offering. The rate adjusts quarterly, equal to LIBOR plus

1.67%.

The Entity

may

redeem them, in whole or in part, at face value. The Company borrowed the proceeds of the issuance from the Entity in

December 2006

in the form of an

$8.3

million note payable, which is included in the other borrowings on the Company’s Consolidated Balance Sheet.