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BORROWINGS | 12 Months Ended
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Dec. 31, 2014
Debt Disclosure [Abstract] |
BORROWINGS | BORROWINGS Funds borrowed from the FHLB at December 31 are as follows (dollars in thousands):
| Current Interest Rate |  | 2014 |  | 2013
Fixed Rate Advances, due at maturity: |  |  |  |  |
Advance due January 2015 | 2.00 | % |  | $ | 5,000 |  |  | 5,000 |
Advance due March 2017 | 5.25 | % |  | 5,000 |  |  | 5,000 |
Fixed Rate Advances, with monthly principal and interest payments: |  |  |  |  |  |  |  |
Advance due March 2014 | 2.45 | % |  | — |  |  | 265 |
Advance due March 2019 | 2.82 | % |  | 1,357 |  |  | 1,837 |
|  |  |  | $ | 11,357 |  |  | 12,102 |
All advances from the FHLB are secured by a blanket pledge of the Company’s 1-4 family first lien mortgage loans in the amount of approximately $212 million and $183 million at December 31, 2014 and 2013, respectively. Additionally, the Company was required to hold minimum levels of FHLB stock, based on the outstanding borrowings. Total remaining borrowing capacity, including short-term borrowing arrangements, at December 31, 2014 was approximately $100.8 million. One of the factors limiting remaining borrowing capacity is ownership of FHLB stock. The Company could increase its remaining borrowing capacity by purchasing additional FHLB stock. Short-term borrowings at December 31 are as follows (dollars in thousands):
| 2014 |  | 2013
| Amount |  | Rate |  | Amount |  | Rate
Line of credit | $ | 5,021 |  |  | 0.75 | % |  | $ | — |  |  | — | %
Repurchase agreements | 11,624 |  |  | 0.10 | % |  | 8,655 |  |  | 0.10 | %
| $ | 16,645 |  |  | 0.30 | % |  | $ | 8,655 |  |  | 0.10 | %
At December 31, 2014, the Company had short-term borrowing arrangements with three financial institutions and the Federal Home Loan Bank of Cincinnati. The first arrangement provides that the Company can borrow up to $7 million in federal funds at the interest rate in effect at the time of the borrowing. The second arrangement provides that the Company can borrow up to $10 million in federal funds at the interest rate in effect at the time of the borrowing. The third arrangement is a short-term line of credit for a maximum amount of $20 million at an interest rate equal to the lending institution’s federal funds rate plus a spread of 50 basis points. Under the terms of the Cash Management Advance program with the Federal Home Loan Bank of Cincinnati, the Company can borrow up to $46.5 million in short-term advances, subject to total remaining borrowing capacity limitations. The Company has the option of selecting a variable rate of interest for up to 90 days or a fixed rate of interest for up to 30 days. The interest rate on the Cash Management Advance program is the published rate in effect at the time of the advance. This agreement expires on August 28, 2015. Repurchase agreements are an option customers may use in managing their cash positions. The repurchase agreements mature the next business day after issuance. They are secured by U.S. Treasury, U.S. Agency, or government guaranteed mortgage-backed securities and such collateral securities are held by the Federal Reserve Bank. The maximum amount of outstanding agreements at any month-end during 2014 and 2013 totaled $12,927,000 and $15,165,000, respectively. The average balance during 2014 and 2013 was $11,367,000 and $11,376,000, respectively. As of December 31, 2014 and 2013, approximately $1.2 million and $0.7 million, respectively, of the repurchase agreements outstanding were held by a company owned by a member of the Company’s Board of Directors.

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- 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 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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