XML 30 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Federal Home Loan Bank and Short-term Borrowings
12 Months Ended
Dec. 31, 2016
Federal Home Loan Bank And Short Term Borrowings [Abstract]  
Federal Home Loan Bank and Short-term Borrowings

Note 6. Federal Home Loan Bank and Short-term Borrowings

 

The Bank owned 12,000 shares of common stock of the FHLB at December 31, 2016. The Bank is required to maintain an investment of 0.2% of total assets, adjusted annually, plus 4.5% of total advances, adjusted for advances and repayments. The credit available under this facility is determined at 20% of the Bank’s total assets, or approximately $65,626,000 at December 31, 2016. Long-term advances totaled $20,000,000 under this credit arrangement at December 31, 2016 (see Note 7). This credit facility is secured by a floating lien on the Bank’s residential mortgage loan portfolio. Average short-term borrowings under this facility approximated $137, $21,918, and $24,658 for 2016, 2015, and 2014, respectively.

 

The Bank also had available unsecured federal funds lines of credit from three financial institutions for $3,000,000, $5,000,000, and $8,000,000. No balances were outstanding on these lines of credit on December 31, 2016