Note 9 - Borrowings

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Federal Home Loan Bank, Advances [Text Block]

NOTE

9

– BORROWINGS

The Bank has established a borrowing line with the FHLB

of Dallas. As of

December 31, 2017

and

2016,

the Bank had outstanding advances totaling

$45.0

million and

$50.0

million, respectively, carrying interest rates from

0.90%

to

1.46%

at

December 31, 2017

and

0.56%

to

1.32%

at

December 31, 2016.

As of

December 31, 2017,

the Bank had unused credit available under the FHLB blanket pledge agreement of

$92.3

million. The following are maturities of outstanding FHLB advances at

December 31, 2017

and

2016:

	At December 31,
Maturity	2017		2016
Year one	$	35,000,000	$	30,000,000
Year two		-		10,000,000
Year three		10,000,000		-
Year four		-		10,000,000
Total	$	45,000,000	$	50,000,000

The

Bank has

two

lines of credit available with other financial institutions of

$6.0

and

$9.8

million, respectively, with

no

outstanding balances at

December 31, 2017

and

2016.