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T Bancshares, Inc.
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10-K
Mar 29, 3:52 PM ET
T Bancshares, Inc. 10-K
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Contents
3
NOTE 7. BORROWED FUNDS
The Company has a blanket lien credit line with the FHLB with borrowing capacity of $20.4 million secured by commercial loans and securities with collateral values of $11.1 million and $9.3 million, respectively. The Company had one outstanding overnight advance for $6.0 million at December 31, 2016, with a fixed interest rate of 0.55% and maturity date of January 3, 2017. The advance was paid as of January 3, 2017. The Company had one outstanding overnight advance for $10.0 million at December 31, 2015, with a fixed interest rate of 0.31% and maturity date of January 4, 2016. The advance was renewed at a fixed interest rate of 0.38% and maturity date of January 5, 2016. At maturity the Company determines its borrowing needs and renews the advance accordingly at varying terms ranging from one to seven days.
The Company also has a credit line with the FRB with borrowing capacity of $16.3 million, secured by commercial loans and securities with collateral value of $15.8 million and $540,000, respectively. There were no outstanding borrowings at December 31, 2016 or December 31, 2015.