Note 11 - Advances from the Federal Home Loan Bank

12 Months Ended

Dec. 31, 2015

Disclosure Text Block [Abstract]

Federal Home Loan Bank Advances, Disclosure [Text Block]

(11) Advances from the Federal Home Loan Bank

Bancorp had outstanding borrowings of $43.5 million at December 31, 2015, via 12 separate fixed-rate advances. For two advances totaling $30 million, both of which are non-callable, interest payments are due monthly, with principal due at maturity. For the remaining advances totaling $13.5 million, principal and interest payments are due monthly based on an amortization schedule.

The following is a summary of the contractual maturities and average effective rates of outstanding advances:

(In thousands)	December 31, 2015					December 31, 2014
Year	Advance		Fixed Rate			Advance		Fixed Rate
2015	$	-		-		$	30,000		2.30	%
2016		30,000		0.55	%		-		-
2020		1,838		2.23			1,885		2.23
2021		429		2.12			497		2.12
2024		2,865		2.36			3,064		2.36
2025		6,991		2.44			-		-
2028		1,345		1.48			1,386		1.47
Total	$	43,468		1.09	%	$	36,832		2.27	%

Advances from the FHLB are collateralized by certain commercial and residential real estate mortgage loans under a blanket mortgage collateral agreement and FHLB stock. Bancorp views the borrowings as an effective alternative to higher cost time deposits to fund loan growth. At December 31, 2015, the amount of available credit from the FHLB totaled $393.0 million.