text: Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a 
  customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved 
  in extending loan facilities to customers. The average collateral value held on letters of credit exceeds the contract 
  amount. 
  
  The Company has no other off-balance sheet arrangements or transactions that would expose the Company to 
  liability that is not reflected on the face of the financial statements. 