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Federal Home Loan Bank Borrowings
 12 Months Ended
Dec. 31, 2015
Banking and Thrift [Abstract]  
Federal Home Loan Bank Advances, Disclosure [Text Block]
(11) Federal Home Loan Bank Borrowings
 
Term advances from the FHLB totaled $35.0 million at December 31, 2015 and $35.7 million at December 31, 2014. Maturities of such borrowings at December 31, 2015 and 2014 are summarized as follows:
 
(Dollars in thousands)
 
As of December 31,
 
 
 
2015
 
2014
 
Year
 
Amount
 
Weighted
average rates
 
Amount
 
Weighted
average rates
 
2017
 
$
10,000
 
 
3.64
%
$
10,000
 
 
3.64
%
2018
 
 
25,000
 
 
3.31
%
 
25,653
 
 
3.39
%
Total
 
$
35,000
 
 
 
 
$
35,653
 
 
 
 
 
All of the Bank’s term advances with the FHLB have fixed rates and prepayment penalties. Additionally, the Bank also has a line of credit, renewable annually each September, with the FHLB under which there were $2.6 million of borrowings at December 31, 2015 compared to $7.6 million of borrowings as of December 31, 2014. Interest on any outstanding balance on the line of credit accrues at the federal funds rate plus 0.15% (0.48% at December 31, 2015).
 
Although no loans are specifically pledged, the FHLB requires the Bank to maintain eligible collateral (qualifying loans and investment securities) that has a lending value at least equal to its required collateral. At December 31, 2015 and 2014, there was a blanket pledge of loans and securities totaling $111.9 million and $108.4 million, respectively. At December 31, 2015 and 2014, the Bank’s total borrowing capacity with the FHLB was approximately $83.8 million and $73.0 million, respectively. At December 31, 2015 and 2014, the Bank’s available borrowing capacity was $29.2 million and $27.7 million, respectively. The available borrowing capacity with the FHLB is collateral based, and the Bank’s ability to borrow is subject to maintaining collateral that meets the eligibility requirements. The borrowing capacity is not committed and is subject to FHLB credit requirements and policies. In addition, the Bank must maintain a restricted investment in FHLB stock to maintain access to borrowings.