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Note 6 - Other Borrowings
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Other Borrowings [Text Block]
Note
6.
Other Borrowings
 
The Company had an unsecured line of credit totaling
$5.0
million with a non-affiliated bank at
September 30, 2019
. There were
no
borrowings outstanding on the line of credit at
September 30, 2019
. The interest rate on the line of credit floats at Wall Street Journal Prime Rate plus
0.25%
and matures on
March 28, 2025.
 
The Bank had unused lines of credit totaling
$212.4
million and
$128.5
million available with non-affiliated banks at
September 30, 2019
and
December 31, 2018
, respectively. These amounts primarily consist of a blanket floating lien agreement with the Federal Home Loan Bank of Atlanta (FHLB) in which the Bank can borrow up to
19%
of its total assets. The unused line of credit with FHLB totaled
$138.9
million at
September 30, 2019
. The Bank had collateral pledged on the borrowing line at
September 30, 2019
and
December 31, 2018
including real estate loans totaling
$187.0
million and
$110.8
million, respectively, and Federal Home Loan Bank stock with a book value of
$776
thousand and
$763
thousand, respectively. The Bank did
not
have borrowings from the FHLB at
September 30, 2019
and
December 31, 2018
.