Short-Term And Long-Term Borrowings

6 Months Ended

Jun. 30, 2017

Short-Term And Long-Term Borrowings [Abstract]

Short-Term And Long-Term Borrowings

Note 8 – Short-term and Long-term Borrowings

Securities sold under agreements to repurchase, federal funds purchased and FHLBshort term advances generally represent overnight or less than twelve month borrowings. Long term advances from the FHLB are for periods of twelve months or more and are generally less than sixty months. The Bank has an agreement with the FHLB which allows for borrowings up to a percentage of qualifying assets. At June 30, 2017, the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $482.1 million.  This borrowing capacity with the FHLB includes a line of credit of $150.0 million. There were no short-term or long-term FHLB advances outstanding as of June 30, 2017andDecember 31, 2016.  All FHLB borrowings are secured by qualifying assets of the Bank.

The Bank has a federal funds line of credit with the Atlantic Community Bankers Bank (“ACBB”) of $10.0 million, of which none was outstanding at June 30, 2017 and December 31, 2016. Advances from this line are unsecured.