Note 10 - Borrowings

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Federal Home Loan Bank, Advances [Text Block]

NOTE

10

– BORROWINGS

The Bank has established a borrowing line with the FHLB of Dallas. As of

December 31, 2019

and

2018,

the Bank had outstanding advances totaling

$40.0

million and

$67.0

million, respectively, carrying interest rates from

1.32%

to

3.03%.

As of

December 31, 2019,

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

$105.4

million. The following are maturities of outstanding FHLB advances at

December 31, 2019

and

2018:

	At December 31,
Maturity	2019		2018
Year one	$	40,000,000	$	27,000,000
Year two		-		40,000,000
Year three		-		-
Year four		-		-
Total borrowings	$	40,000,000	$	67,000,000

The Bank has

two

lines of credit available with other financial institutions of

$9.8

and

$6.0

million with

no

outstanding balances at

December 31, 2019

and

2018.