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Note 8 - Other Borrowings | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Other Borrowings [Text Block] | Note 8. Other Borrowings The Company had an unsecured line of credit totaling $5.0 million with a non-affiliated bank at December 31, 2021. There were no borrowings outstanding on the line of credit at December 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 25, 2026. The Bank had unused lines of credit totaling $240.4 million and $237.7 million available with non-affiliated banks at December 31, 2021 and 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 $155.7 million at December 31, 2021. The Bank had collateral pledged on the borrowing line at December 31, 2021 and 2020 including real estate loans totaling $205.8 million and $221.1 million, respectively, and FHLB stock with a book value of $701 thousand and $818 thousand, respectively. The Bank did not have borrowings from the FHLB at December 31, 2021 and 2020.

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