Note 7 - Other Borrowed Funds

9 Months Ended

Sep. 30, 2017

Note

Other Borrowed Funds

Other borrowed funds consist of fixed rate advances from the Federal Home Loan Bank of Pittsburgh (“FHLB”). The following table sets forth the scheduled maturities of other borrowed funds at the dates indicated.

	(Dollars in thousands)
	September 30, 2017					December 31, 2016
	Amount		Weighted Average Rate			Amount		Weighted Average Rate
Due in One Year	$	3,500		1.35	%	$	-		-	%
Due After One Year to Two Years		4,000		1.67			3,500		0.94
Due After Two Years to Three Years		6,000		1.88			4,500		1.41
Due After Three Years to Four Years		5,000		2.09			6,000		1.78
Due After Four Years to Five Years		3,000		2.23			6,000		1.97
Due After Five Years		3,000		2.41			8,000		2.27
Total	$	24,500		1.92		$	28,000		1.80

As of

September 30, 2017,

the Company maintained a credit arrangement with a maximum borrowing limit of approximately

$286.3

million with the FHLB. This arrangement is subject to annual renewal, incurs

service charge, and is secured by a blanket security agreement on outstanding residential mortgage loans and the Company’s investment in FHLB stock. Under this arrangement the Company had available a variable rate Line of Credit in the amount of

$143.1

million and

$148.5

million as of

September 30, 2017

and

December 31, 2016,

respectively.

The Company maintains a Borrower-In-Custody of Collateral line of credit agreement with the Federal Reserve Bank (“FRB”) for

$88.3

million that requires monthly certification of collateral, is subject to annual renewal, incurs

service charge and is secured by commercial and consumer indirect auto loans. The Company also maintains multiple line of credit arrangements with various unaffiliated banks totaling

$40.0

million. As of

September 30, 2017

and

December 31, 2016,

draws had been taken on these facilities.