Note 12 - Other Borrowings

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

Long-term Debt [Text Block]

12. OTHER BORROWINGS

Other borrowings are summarized as follows at December 31 (in thousands):

	2014		2013
Federal Home Loan Bank advances with rates ranging from 0.18% to 7.75% maturing through July 1, 2024	$	43,095	$	5,941
Line of credit with a bank, $14.75 million total credit line, floating rate of 1.95% above the three-month LIBOR rate, reset quarterly, interest payments due quarterly, maturing May 30, 2016		8,300		--
Term note payable to a bank, floating rate of 1.95% above the three-month LIBOR rate, reset quarterly, principal and interest payments due quarterly, maturing May 30, 2019		9,863		--
Total	$	61,258	$	5,941

Federal Home Loan Bank. The Bank currently pledges as collateral for FHLB advances certain qualifying one- to four-family mortgage loans and a blanket lien on substantially all remaining loans. Additionally, as of December 31, 2014, the Bank has FHLB letters of credit totaling $25.0 million which mature in the fourth quarter of 2015. The letters of credit were used to secure public deposits and a repurchase agreement as of December 31, 2014.

Notes Payable. The line of credit and note payable to a bank are collateralized by 100% of the stock of the Bank. The related loan agreement requires the Company and the Bank to maintain certain financial ratios. As of December 31, 2014, the Company was in compliance with the applicable covenants imposed by the loan agreement.

At December 31, 2014, scheduled maturities of other borrowings were as follows: (in thousands):

	Weighted
	Average
Years Ending December 31	Rate			Amount
2015		0.44	%	$	19,349
2016		0.56			14,812
2017		2.31			1,490
2018		2.11			6,416
2019		1.99			12,119
2020 and thereafter		2.68			7,072
Total		1.26	%	$	61,258