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FHLB Advances And Other Debt | 6 Months Ended
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Jun. 30, 2019
FHLB Advances And Other Debt [Abstract] |
FHLB Advances And Other Debt | NOTE 8 – FHLB ADVANCES AND OTHER DEBT FHLB advances and other debt were as follows: ﻿
﻿ |  |  |  |  |  |  |
﻿ | Weighted |  |  |  |
﻿ | Average Rate |  | June 30, 2019 |  | December 31, 2018
﻿FHLB fixed rate advances : |  |  |  |  |  |  |
﻿Maturities: |  |  |  |  |  |  |
﻿2019 | 1.62% |  | $ | 3,500 |  | $ | 3,500
﻿2020 | 1.98% |  |  | 4,500 |  |  | 4,500
﻿2021 | 2.32% |  |  | 4,000 |  |  | 4,000
﻿2022 | 2.05% |  |  | 1,500 |  |  | 1,500
﻿Total FHLB fixed rate advances |  |  |  | 13,500 |  |  | 13,500
﻿ |  |  |  |  |  |  |
﻿Variable rate other debt: |  |  |  |  |  |  |
﻿Maturities: |  |  |  |  |  |  |
﻿2020 | 6.25% |  |  | 5,000 |  |  | 6,000
﻿Total variable rate other debt |  |  |  | 5,000 |  |  | 6,000
﻿Total |  |  | $ | 18,500 |  | $ | 19,500
﻿ Each FHLB advance is payable at its maturity date, with a prepayment penalty for fixed-rate advances. In February 2018, the Holding Company entered into a credit facility with a third-party bank pursuant to which the Holding Company could borrow up to an aggregate principal amount of $6,000. The Holding Company increased the credit facility by $2,000 in July 2018, and by an additional $2,000 in December 2018, which increased the total borrowing limit to $10,000. In December 2018, the credit facility was also modified to a revolving line-of-credit. The purpose of the credit facility is to provide an additional source of liquidity for the Holding Company and to provide funds for the Holding Company to downstream as additional capital to CFBank to support growth. Loans under the credit facility bear interest at a rate equal to the Prime Rate plus 0.75%. The credit facility is secured by a pledge of the Holding Company’s stock of CFBank. The credit facility will expire in February 2020 unless extended or replaced. As of June 30, 2019, the Company had an outstanding balance of $5,000 on the credit facility.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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