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Note 10 - Borrowings
12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Debt Disclosure [Text Block]

Note 10. Borrowings

 

At December 31, 2021, FHLB advances consisted of the following (dollars in thousands):

 

      

Weighted

 
      

Average

 
  

Amount

  

Interest Rate

 

FHLB advances maturing in:

        

2024

  3,000   1.57%

Total FHLB advances

 $3,000   1.57%

 

Borrowed funds at December 31, 2021 and 2020 consisted of an FHLB advance. FHLB advances are collateralized by FHLB stock, certain 1-4 family residential real estate loans, multifamily real estate loans, commercial real estate loans and agricultural real estate loans. The Banks had available borrowing capacity with the FHLB of Des Moines, Iowa of $309.4 million and $208.0 million at December 31, 2021 and 2020, respectively.