Note 7 - Other Borrowed Funds

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Debt Disclosure [Text Block]

Note

7.

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.

	March 31, 2020					December 31, 2019
			Weighted					Weighted
			Average					Average
	Amount		Rate			Amount		Rate
(Dollars in thousands)
Due in One Year	$	5,000		2.09	%	$	6,000		1.97	%
Due After One Year to Two Years		3,000		2.23			5,000		2.18
Due After Two Years to Three Years		3,000		2.41			3,000		2.41
Total	$	11,000		2.21		$	14,000		2.14

As of

March 31, 2020,

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

$420.9

million with the FHLB and available borrowing capacity of

$369.8

million. This arrangement is subject to annual renewal, incurs

no

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

$147.0

million as of

March 31, 2020

and

December 31, 2019,

respectively, of which, there was

no

outstanding balance as of

March 31, 2020

and

December 31, 2019.

At

March 31, 2020,

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

$98.0

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

no

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

$60.0

million as of

March 31, 2020,

and

December 31, 2019,

respectively. As of

March 31, 2020,

and

December 31, 2019,

no

draws had been taken on these facilities.