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Note 9 - Lines of Credit
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Debt Disclosure [Text Block]

(9)

LINES OF CREDIT

 

The Bank has an unsecured federal funds purchased line of credit through Independent Correspondent Bankers’ Bank (formerly The Bankers’ Bank of Kentucky) with a maximum borrowing amount of $5.0 million.  At December 31, 2024 and 2023, the Bank had no outstanding federal funds purchased under the line of credit.

 

The Bank also has a $2.0 million revolving line of credit with Stock Yards Bank & Trust Company.  At December 31, 2024 and 2023, the Bank had no outstanding borrowings under the line of credit.

 

On February 28, 2024 the Bank entered into an Overdraft Line of Credit Agreement with the FHLB which established a line of credit not to exceed $10.0 million secured under the blanket collateral agreement.  This agreement expired on February 28, 2025 and automatically renewed for an additional one-year term.  At December 31, 2024, there were no borrowings under the agreement.