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Note 6 - Other Borrowings
3 Months Ended
Mar. 31, 2021
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, 2021
. There were
no
borrowings outstanding on the line of credit at
March 31, 2021
. 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, 2026.
 
The Bank had unused lines of credit totaling
$239.0
million and
$237.7
million available with non-affiliated banks at
March 31, 2021
and
December 31, 2020
, 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
$162.5
million at
March 31, 2021
. The Bank had collateral pledged on the borrowing line at
March 31, 2021
and
December 31, 2020
including real estate loans totaling
$222.1
 million and
$221.1
million, respectively, and Federal Home Loan Bank stock with a book value of
$573
thousand and
$818
thousand, respectively. The Bank did
not
have borrowings from the FHLB at
March 31, 2021
and
December 31, 2020
.