Note 18 - Federal Funds Purchased and Lines of Credit

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Banking and Thrift Disclosure [Text Block]

NOTE

18.

FEDERAL FUNDS PURCHASED AND LINES OF CREDIT

At

December

31,

2016

and

2015,

we had

no

outstanding federal funds purchased balances.

The Bank had nonbinding federal funds line of credit agreements with

three

financial institutions totaling

$40.0

million at

December

31,

2016.

The lines of credit had interest rates ranging from

0.09%

to

1.54%

at

December

31,

2016.

Availability of the lines is subject to federal funds balances available for loan, continued borrower eligibility and are reviewed and renewed periodically throughout the year. These lines are intended to support short-term liquidity needs, and the agreements

may

restrict consecutive day usage.