Note 10 - Short-term Borrowings

12 Months Ended

Dec. 31, 2021

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)	2021			2020
Balance at year-end		-			-
Average balance outstanding		85			22,637
Maximum month-end balance		-			62,329
Weighted-average rate at year-end		N/A			N/A
Weighted-average rate during the year		0.40	%		0.35	%

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 3.50%, a $10.0 million line of credit at an adjustable rate, currently at 3.33%, and a $4.0 million line of credit at an adjustable rate, currently 3.50%. On December 31, 2021, and 2020, there were no outstanding borrowings under these lines of credit. The additional borrowing capacity on FHLB advances was $417.4 million and $401.7 million on December 31, 2021, and 2020, respectively.