BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2015

BORROWINGS

Schedule of borrowings

Borrowings consist of the following at March 31, 2015, December 31, 2014 and March 31, 2014 (dollars in thousands):

	March 31,		December 31,		March 31,
	2015		2014		2014
Federal Home Loan Bank fixed rate advances at March 31, 2015 with a weighted average rate of 1.68% maturing in 2016, 2018 and 2019	$	35,000	$	35,000	$	35,000
Correspondent bank line of credit - holding company	8,500		8,000		—
Bank line of credit - wholly owned asset based lending subsidiary	2,961		3,367		—
Correspondent bank term note, current floor rate of 4%, maturing December 28, 2017	2,600		2,700		3,000
USDA Rural Development, fixed-rate note payable, maturing August 24, 2024, interest payable at 1%	778		779		852
	$	49,839	$	49,846	$	38,852