Note 11 - Short Term Borrowings

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

Short-term Debt [Text Block]

11. SHORT TERM BORROWINGS

Short term borrowings consist of repurchase agreements totaling $12.1 million at December 31, 2014. Securities sold under repurchase agreements generally have maturities of one day and are recorded based on the amount of cash received in connection with the borrowing. Securities pledged as collateral under repurchase agreements are included in investment securities on the Condensed Consolidated Balance Sheets and are disclosed in Note 4. The fair value of the collateral pledged to a third party is continually monitored and additional collateral is pledged or returned, as deemed appropriate.

At December 31, 2014, the Company and the Bank had unused credit lines allowing contingent access to overnight borrowings of up to $123.9 million on an unsecured basis.