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Borrowed Funds | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | Note 10 – Borrowed Funds At December 31, 2018, and December 31, 2017, borrowed funds are summarized below:
|  | (Dollars in thousands) |
|  | 2018 |  |  | 2017 |
Fixed rate advances from the FHLB |  | $ | 23,000 |  |  | $ | 17,100 |
Variable rate advances from the FHLB |  |  | 20,000 |  |  |  | - |
Line of credit at FHLB |  |  | - |  |  |  | 3,181 |
Other |  |  | - |  |  |  | 600 |
Total |  | $ | 43,000 |  |  | $ | 20,881 |
At December 31, 2018, scheduled maturities of borrowed funds were as follows:
|  | (Dollars in thousands) |
2019 |  | $ | 29,000 |
2020 |  |  | 8,000 |
2021 |  |  | 6,000 |
Total |  | $ | 43,000 |
Repurchase agreements generally mature within one year and are secured by U.S. government and U.S. agency securities, under the Bancorp’s control. At December 31, information concerning these retail repurchase agreements is summarized below:
|  | (Dollars in thousands) |
|  | 2018 |  |  | 2017 |
Ending balance |  | $ | 11,628 |  |  | $ | 11,300 |
Average balance during the year |  |  | 12,754 |  |  |  | 13,734 |
Maximum month-end balance during the year |  |  | 16,672 |  |  |  | 17,720 |
Securities underlying the agreements at year end: |  |  |  |  |  |  |  |
Carrying value |  |  | 16,262 |  |  |  | 18,053 |
Fair value |  |  | 16,262 |  |  |  | 18,053 |
Average interest rate during the year |  |  | 1.38 | % |  |  | 0.82 | %
Average interest rate at year end |  |  | 1.44 | % |  |  | 0.91 | %
At December 31, advances from the Federal Home Loan Bank were as follows:
|  | (Dollars in thousands) |
|  | 2018 |  |  | 2017 |
Fixed rate advances, maturing January 2019 through |  |  |  |  |  |
March 2021 at rates from 1.41% to 2.76%; average rate: 2018 – 2.29%; 2017 – 1.67% |  | $ | 23,000 |  |  | $ | 17,100 |
Variable rate advances, maturing January 2019 through |  |  |  |  |  |  |  |
May 2019 at a rate of 2.87%; average rate: 2018 – 2.87% |  | $ | 20,000 |  |  | $ | - |
Fixed rate advances are payable at maturity, with a prepayment penalty. The advances were collateralized by mortgage loans with a carrying value totaling approximately $259.8 million and $270.8 million at December 31, 2018 and 2017, respectively. In addition to the fixed rate advances, the Bancorp maintains a $20.0 million line of credit with the Federal Home Loan Bank of Indianapolis. The Bancorp did not have a balance on the line of credit at December 31, 2018 compared to a $3.2 million balance on the line of credit at December 31, 2017. As of December 31, 2018 the Bancorp did not have other borrowings. Other borrowings at December 31, 2017 are comprised of reclassified bank balances.

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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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