XML 33 R20.htm IDEA: XBRL DOCUMENT
v3.19.1

Borrowed Funds | 12 Months Ended
--- | ---
Dec. 31, 2018
Borrowed Funds [Abstract] |
Borrowed Funds | 12.Borrowed Funds The following is a summary of short-term borrowings at December 31, 201 8 and 201 7 with original maturities of less than one year: ﻿ ﻿
﻿ |  |  |  |
﻿ |  |  |  |
﻿(Dollars in thousands) | 2018 | 2017
﻿Overnight borrowings, weighted average interest rate of 2.70% at December 31, 2018 | $ | 40,000 | $ | 0
﻿Securities sold under agreements to repurchase: |  |  |  |
﻿Outstanding at end of year | $ | 37,707 | $ | 48,845
﻿Weighted average interest rate at year end |  | 0.24% |  | 0.15%
﻿Maximum amount outstanding as of any month end | $ | 55,648 | $ | 58,438
﻿Average amount outstanding | $ | 44,045 | $ | 37,326
﻿Approximate weighted average rate during the year |  | 0.20% |  | 0.19%
﻿ At December 31, 2018, the repurchase agreements were secured by $51.3 million in investment securities. ﻿ The following is a summary of long-term borrowings at December 31, 2018 and 2017 with original maturities exceeding one year: ﻿ ﻿
﻿ |  |  |  |
﻿ |  |  |  |
﻿(In thousands) | 2018 | 2017
﻿FHLB advances, bearing fixed interest rates ranging from 1.54% to 3.02% at December 31, 2018 | $ | 70,000 | $ | 90,000
﻿Junior subordinated debt, bearing variable interest rate of 5.54% at December 31, 2018 |  | 30,929 |  | 30,929
﻿Total long-term debt | $ | 100,929 | $ | 120,929
﻿ At December 31, 2018, the long-term FHLB advances were secured by $200.1 million in loans. ﻿ The contractual maturities of long-term borrowings at December 31, 2018 and 2017 are as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ | 2018 |  |  |
﻿ | Fixed | Floating |  |  |  | 2017
﻿(in thousands) | Rate | Rate | Total |  | Total
﻿Due in 2018 | $ | 0 | $ | 0 | $ | 0 |  | $ | 20,000
﻿Due in 2019 |  | 20,000 |  | 0 |  | 20,000 |  |  | 20,000
﻿Due in 2020 |  | 30,000 |  | 0 |  | 30,000 |  |  | 30,000
﻿Due in 2021 |  | 20,000 |  | 0 |  | 20,000 |  |  | 20,000
﻿Thereafter |  | 0 |  | 30,929 |  | 30,929 |  |  | 30,929
﻿Total long-term debt | $ | 70,000 | $ | 30,929 | $ | 100,929 |  | $ | 120,929
﻿ The Bank has a borrowing capacity agreement with the FHLB in an amount equal to 30% of the Bank’s assets. At December 31, 2018, the available line of credit equaled $409.5 million. This line of credit, which can be used for both short and long-term funding, can only be utilized to the extent of available collateral. The line is secured by certain qualified mortgage, commercial and home equity loans and investment securities as follows (in thousands): ﻿ ﻿
﻿ |  |
﻿ |  |
﻿1-4 family mortgage loans | $ | 132,542
﻿Commercial loans |  | 41,208
﻿Multi-family loans |  | 2,632
﻿Home equity loans |  | 23,748
﻿ | $ | 200,130
﻿ At December 31, 2018, $104.3 million was available for additional borrowings. ﻿ The Bank also has various unsecured lines of credit totaling $85.0 million with various financial institutions and a $4.4 million secured line with the Federal Reserve to meet daily liquidity requirements. At December 31, 2018, there was $15.0 million borrowed under these credit facilities. In addition, there was approximately $104.3 million of available funding through brokered money market funds at December 31, 2018. ﻿ Repurchase Agreements - The Bank has retail repurchase agreements with customers within its local market areas. Repurchase agreements generally have maturities of one to four days from the transaction date. These borrowings are collateralized with securities that we own and are held in safekeeping at independent correspondent banks. ﻿ FHLB Advances - The FHLB advances consist of various borrowings with maturities generally ranging from five to 10 years with initial fixed rate periods of one, two or three years. After the initial fixed rate period, the FHLB has one or more options to convert each advance to a LIBOR based, variable rate advance, but the Bank may repay the advance in whole or in part, without a penalty, if the FHLB exercises its option. At all other times, the Bank’s early repayment of any advance could be subject to a prepayment penalty.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration