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Borrowings | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Borrowings | (7) Borrowings At December 31, 2021 and 2020, the Bank had a line of credit totaling $44.7 million and $89.1 million, respectively, from the FHLB, which is reviewed annually by the FHLB. The following advances, which require monthly or quarterly interest payments, were outstanding at December 31, 2021:
Advance Date |  | Advance |  |  | Fair Value Adjustment |  |  | Interest Rate |  |  | Maturity |  | Rate |  | Call Feature
5/23/2019 |  | $ | 8,000,000 |  |  | $ | 395,312 |  |  |  | 2.40 | % |  | 5/23/2029 |  | Convertible |  | 5/23/2022
11/29/2019 |  |  | 5,000,000 |  |  |  | 320,713 |  |  |  | 2.66 | % |  | 10/25/2019 |  | Convertible |  | 11/29/2022
12/16/2019 |  |  | 5,000,000 |  |  |  | 271,837 |  |  |  | 2.37 | % |  | 12/17/2029 |  | Convertible |  | 3/17/2022
1/21/2021 |  |  | 10,000,000 |  |  |  | — |  |  |  | 0.68 | % |  | 1/21/2026 |  | Fixed |  | N/A
3/8/2021 |  |  | 10,000,000 |  |  |  | — |  |  |  | 0.54 | % |  | 3/8/2024 |  | Fixed |  | N/A
5/2/2021 |  |  | 10,000,000 |  |  |  | — |  |  |  | 0.76 | % |  | 5/2/2025 |  | Fixed |  | N/A
|  | $ | 48,000,000 |  |  | $ | 987,862 |  |  |  |  |  |  |  |  |  |
Three of the advances above were acquired in connection with the acquisition of Affinity Bank during 2020. At December 31, 2021 and 2020, the FHLB advances were collateralized by certain loans which totaled approximately $343.6 million and $309.9 million at December 31, 2021 and 2020, respectively, and by the Company’s investment in FHLB stock which totaled approximately $2.2 million and $1.3 million at December 31, 2021 and 2020, respectively. The Company had one FHLB letter of credit of $8.0 million and $16.0 million used to collateralize public deposits, outstanding at December 31, 2021 and 2020, respectively. The Company borrowed $5.0 million from First National Bankers Bank during the year ended December 31, 2020. The loan had a ten-year term with a floating interest rate equal to the Wall Street Journal Prime Rate. Interest payments were due quarterly and the initial principal payment was due June 29, 2021. There was no prepayment penalty. The loan was secured by Bank stock. In January 2021, the loan was repaid. The Company borrowed $100.8 million under the Federal Reserve Bank of Atlanta to fund PPP loans under the U.S. CARES Act (the Paycheck Protection Program Liquidity Facility). This was secured by PPP loans totaling $101.7 million made during the year ended December 31, 2020. These borrowings have a fixed interest rate of 0.35% and a maturity date equal to the maturity date of the related PPP loans, with the PPP loans maturing either two or five years from the origination date of the PPP loan. This loan was repaid in 2021. At December 31, 2021 and 2020 the Bank had unsecured federal funds lines of credit of $12.5 million, for which no amounts were outstanding. The Bank also has a line of $62.0 million and $53.8 million with the Federal Reserve Bank of Atlanta Discount Window secured by $115.2 million and $99.5 million in loans as of December 31, 2021 and 2020, respectively. No amount was outstanding on the Discount Window as of December 31, 2021 or 2020.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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