Note 9 - Federal Funds Purchased |
12 Months Ended |
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Dec. 31, 2017 | |
Notes to Financial Statements | |
Federal Funds Purchased [Text Block] |
NOTE 9. FEDERAL FUNDS PURCHASEDAt December 31, 2017, the Company had $301.8 million in federal funds purchased from its correspondent banks that are clients of its correspondent banking unit, compared to $355.9 million at December 31, 2016. Rates paid on these funds were between 1.55% and 1.70% as of December 31, 2017 and 0.75% and 0.80% as of December 31, 2016.
At
December 31, 2017, the Company had available lines of credit totaling approximately $468.0 million with various financial institutions for borrowing on a short-term basis, with no amount outstanding. Available lines totaled approximately $378.0 million at December 31, 2016. These lines are subject to annual renewals with varying interest rates. |
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- Definition The entire disclosure for purchase of federal funds during the period. No definition available.
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- References No definition available.
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