Note 6.

Other Borrowings

The Bank had unused lines of credit totaling $106.1 million and $121.1 million available with non-affiliated banks at March 31, 2015 and December 31, 2014, respectively. These amounts primarily consist of a blanket floating lien agreement with the Federal Home Loan Bank of Atlanta in which the Bank can borrow up to 19% of its total assets. The unused line of credit with FHLB totaled $62.7 million at March 31, 2015.

At March 31, 2015, the Bank had borrowings from the Federal Home Loan Bank (FHLB) system totaling $15.0 million which matured April 6, 2015. The interest rate on this note payable was 0.22%. At December 31, 2014, the Bank did not have borrowings from the FHLB system. The Bank had a letter of credit from the FHLB totaling $23.0 million at March 31, 2015 and December 31, 2014. The Bank had collateral pledged on the borrowing line and the letter of credit at March 31, 2015 and December 31, 2014 including real estate loans totaling $103.0 million and $101.9 million, respectively, and Federal Home Loan Bank stock with a book value of $1.1 million and $470 thousand, respectively.

At March 31, 2015 and December 31, 2014, the Bank had a note payable totaling $20 and $26 thousand, respectively, secured by a deed of trust, for land purchased to construct a banking office, which requires monthly payments of $2 thousand and matures January 3, 2016. The fixed interest rate on this loan was 4.00%.