BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2016

BORROWINGS

Schedule of borrowings

Borrowings consist of the following at March 31, 2016, December 31, 2015 and March 31, 2015 (dollars in thousands):

	March 31,		December 31,		March 31,
	2016		2015		2015
Federal Home Loan Bank fixed rate advances at March 31, 2016 with a weighted average rate of 1.44% maturing in 2016, 2018, 2019 and 2020	$	35,000	$	35,000	$	35,000
Correspondent bank line of credit - holding company		8,550		7,750		8,500
Bank line of credit - wholly owned asset based lending subsidiary		—		—		2,961
Correspondent bank term note, current floor rate of 4%, maturing December 28, 2017		2,200		2,300		2,600
USDA Rural Development, fixed-rate note payable, maturing August 24, 2024 interest payable at 1%		704		704		778
	$	46,454	$	45,754	$	49,839