Note 8 - Federal Home Loan Bank Borrowings

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

Note

8.

Federal Home Loan Bank Borrowings

The Company has outstanding debt with the Federal Home Loan Bank of Atlanta in the amount of

$7.9

million and

$11.0

million as of

December 31, 2018

and

2017,

respectively. The Federal Home Loan Bank debt at

December 31, 2018

is comprised of

six

fixed rate advances totaling

$7.9

million.

At

December 31, 2018

and

2017,

borrowings from the Federal Home Loan Bank of Atlanta were as follows:

(Dollars In Thousands)
Advance Date	Maturity Date	Conversion Date	Current Rate		2018		2017
January 14, 2015	January 16, 2018	Quarterly		1.090%	$	-	$	4,000
August 19, 2016	August 20, 2018	Quarterly		2.535%		-		4,000
January 3, 2017	January 3, 2020	N/A		1.500%		361		695
February 3, 2017	February 3, 2020	N/A		1.490%		389		722
May 3, 2017	May 4, 2010	N/A		1.580%		944		1,611
March 15, 2018	March 15, 2019	N/A		2.650%		1,000		-
October 4, 2018	January 4, 2019	N/A		2.380%		3,150		-
December 31, 2018	January 31, 2019	N/A		2.530%		2,100		-
					$	7,944	$	11,028

The Company had collateral pledged on these borrowings at

December 31, 2018,

including real estate loans totaling

$18.0

million, investment securities totaling

$2.9

million, and Federal Home Loan Bank stock with a book value of

$833

thousand.