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Note 6 - Other Borrowings
3 Months Ended
Mar. 31, 2020
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
March 31, 2020
. There were
no
borrowings outstanding on the line of credit at
March 31, 2020
. The interest rate on the line of credit floats at Wall Street Journal Prime Rate plus
0.25%,
with a floor of
3.50%,
and matures on
March 28, 2025.
 
The Bank had unused lines of credit totaling
$237.9
million and
$218.1
 million available with non-affiliated banks at
March 31, 2020
and
December 31, 2019
, 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
$146.7
million at
March 31, 2020
. The Bank had collateral pledged on the borrowing line at
March 31, 2020
and
December 31, 2019
including real estate loans totaling
$197.3
 million and
$194.9
 million, respectively, and Federal Home Loan Bank stock with a book value of
$818
 thousand and
$776
 thousand, respectively. The Bank did
not
have borrowings from the FHLB at
March 31, 2020
and
December 31, 2019
.