FHLB Advances

12 Months Ended

Dec. 31, 2019

FHLB Advances [Abstract]

FHLB Advances

9.FHLB ADVANCES

During the third quarter of 2018, the Company utilized $15.0 million in borrowings with the FHLB to purchase securities matching a spread expected to produce a suitable after-tax return. 

The maturity and weighted-average interest rate of FHLB advances as of the periods indicated is as follows:

		As of December 31, 2019
(dollars in thousands)	Amount		Rate
2020	$	-	-	%
2021		5,000	2.95
2022		5,000	2.99
2023		5,000	3.07
2024		-	-
Total	$	15,000	3.01	%