Note 10 - Other Borrowings

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Short-term Debt [Text Block]

Note

10.

Other Borrowings

Other borrowings consist of the following at

December 31, 2018

and

2017:

(Dollars In Thousands)	2018			2017
Warehouse line of credit	$	83		$	1,558
Weighted average interest rate at December 31		5.02	%		4.11	%

Short-term borrowings

may

also include federal funds purchased, which are unsecured overnight borrowings from other financial institutions. The warehouse line of credit is a short-term revolving credit facility used to fund mortgage loans originations until the underlying loan is sold. The amount borrowed on the

$5.0

million warehouse line of credit was

$83

thousand at year end

2018

at a rate of LIBOR plus

2.75%.

The Company had

$26.0

million of federal funds lines of credit available at year-end

2018.

In addition, the Company had access to a

$10.0

million credit line through Promontory’s Insured Cash Sweep (ICS)

one

way buy program at a rate of the

one

month LIBOR plus

11

basis points but

not

less than

20

basis points. At

December 31, 2018

and

2017,

there were

no

advances on the federal funds or credit lines.