Note 10 - Short-term Borrowings

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Short-term Debt [Text Block]

10. SHORT-TERM BORROWINGS

The year ended

December

31

outstanding balances and related information of short-term borrowings, which includes securities sold under agreements to repurchase and short-term borrowings from other banks, are summarized as follows:

(Dollar amounts in thousands)	2016			2015
Balance at year-end	$	68,359		$	35,825
Average balance outstanding		37,130			11,768
Maximum month-end balance		68,359			35,825
Weighted-average rate at year-end		0.61	%		1.37	%
Weighted-average rate during the year		0.89	%		1.65	%

Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expense divided by the related average balance.

The Company maintains a

$6.0

million line of credit at an adjustable rate, currently

4.00%,

a

$10.0

million line of credit at an adjustable rate, currently at

3.93%,

and a

$4.0

million line of credit at an adjustable rate, currently

4.03%.

At

December

31,

2016,

2015,

and

2014,

outstanding borrowings under these lines were

$0,

$9.5

million, and

$3.1

million, respectively.

The following table provides additional detail regarding short-term borrowed funds.

	Repurchase Agreements (Sweep) Accounted for as
	Secured Borrowings
	(in thousands)
	Overnight and Continuous
	December 31, 2016		December 31, 2015
Repurchase agreements:
Mortgage-backed securities in government sponsored entities	$	2,667	$	1,877
Tax-exempt obligations of states and political subdivisions		968		-
U.S. Government agency securities		-		1,052
Gross amount of recognized liabilities	$	3,635	$	2,929