Note 8 - Federal Funds Purchased |
12 Months Ended |
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Dec. 31, 2018 | |
Notes to Financial Statements | |
Federal Funds Purchased [Text Block] |
NOTE 8. FEDERAL FUNDS PURCHASEDAt December 31, 2018, the Company had $288.7 million in federal funds purchased from its correspondent banks that are clients of its correspondent banking unit, compared to $301.8 million at December 31, 2017. Rates paid on these funds were between 2.50% and 2.65% as of December 31, 2018 and 1.55% and 1.70% as of December 31, 2017.
At
December 31, 2018, the Company had available lines of credit totaling approximately $562.0 million with various financial institutions for borrowing on a short-term basis, with no amount outstanding. Available lines totaled approximately $468.0 million at December 31, 2017. 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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