Note 10 - Short-term Borrowings

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Short-term Debt [Text Block]

10. SHORT-TERM BORROWINGS

For 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)	2019			2018			2017
Balance at year-end	$	5,075		$	90,398		$	74,707
Average balance outstanding		14,808			42,231			63,910
Maximum month-end balance		92,000			101,857			114,025
Weighted-average rate at year-end		1.66	%		2.53	%		1.36	%
Weighted-average rate during the year		2.49	%		1.99	%		1.18	%

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

5.00%,

a

$10.0

million line of credit at an adjustable rate, currently at

4.93%,

and a

$4.0

million line of credit at an adjustable rate, currently

5.51%.

At

December 31, 2019,

and

2018,

there were

no

outstanding borrowings under these lines of credit. The additional borrowing capacity on FHLB advances was

$87.0

million and

$27.0

million at

December 31, 2019

and

2018,

respectively.