Note 13 - Borrowed Money

12 Months Ended

Dec. 31, 2015

Disclosure Text Block [Abstract]

Federal Home Loan Bank Advances, Disclosure [Text Block]

13. BORROWED MONEY

The Bank had $37 million of FHLB borrowings outstanding at December 31, 2015 compared to none at December 31, 2014. The Bank pledges its stock in the FHLB and certain loans secured by one to four family residential mortgages as collateral for actual or potential FHLB advances. At December 31, 2015 and 2014, the Bank had approximately $228.2 million and $221.3 million, respectively, of credit available with the FHLB. At December 31, 2015, the Bank had lendable collateral value with the FHLB totaling $162.0 million. Additional collateral would be required in order to access total borrowings up to the credit availability limit.

The following table details the Bank’s FHLB advances outstanding and the related interest rates at December 31, 2015:

Maturity	Interest Rate			Amount
				(Dollars in thousands)
Overnight		0.49	%	$	24,000
December 27, 2016		0.74	%		1,000
June 26, 2017		0.95	%		2,000
June 29, 2017		0.93	%		1,000
June 22, 2018		1.33	%		1,000
June 25, 2018		1.36	%		2,000
June 29, 2018		1.34	%		1,000
July 8, 2019		1.62	%		2,000
June 29, 2020		1.98	%		2,000
July 6, 2020		1.89	%		1,000
				$	37,000