Note 22 - Commitments -

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Commitments Disclosure [Text Block]

Note

2

2

– Commitments –

SBIC Capital Commitment

The SBIC is a program initiated by the Small Business Administration (SBA) in

1958

to assist in the funding of small business loans. The program is a joint venture between investors with venture capital, the SBA, and small business borrowers. Investors are responsible for funding the

first

portion of the capital requirements, with the remaining requirement being funded by the SBA. The funds are then lent to small business borrowers.

The Bank has agreed to participate as an investor with McLarty Capital Partners SBIC, L.P. (McLarty), McLarty Capital Partners SBIC II, L.P. (McLarty II), Bluehenge Capital Secured Debt SBIC, L.P. (Bluehenge) and New Louisiana Angel Fund

2,

LLC (New Louisiana); details of these commitments at

December 31, 2019

are below.

	McLarty		McLarty II		Bluehenge		New Louisiana
	(Dollars in thousands)
Total Capital Commitment	$	2,000	$	2,500	$	1,500	$	50
Capital Called	$	1,802	$	2,004	$	1,387	$	13
Remaining Unfunded Capital Commitment	$	198	$	496	$	113	$	37

Federal Home Loan Bank Letters of Credit

The Bank had outstanding letters of credit on behalf of others from the FHLB of

$203.1

million and

$137.3

million at

December 31, 2019

and

2018,

respectively. The outstanding letters of credit as of

December 31, 2019

are as follows:

Three letters of credit totaling

$30.1

million expires in

January 2020.

One letter of credit of

$19.0

million expires in

February 2020.

Six letters of credit totaling

$133.0

million expires in

March 2020.

Three letters of credit totaling

$7.7

million expires in

April 2020.

One letter of credit of

$157,000

expires in

August 2020.

One letter of credit of

$100,000

expires in

October 2020.

One letter of credit of

$197,000

expires in

November 2020.

Two letters of credit totaling

$1.3

million expires in

December 2020.

One letter of credit of

$11.5

million expires in

January 2022.