Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2011

Federal Home Loan Bank Advances [Abstract]

Federal Home Loan Bank Advances

Note 9—Federal Home Loan Bank Advances

At year-end, advances from the Federal Home Loan Bank were as follows:

	Amount
	(In thousands)
December 31, 2011
Maturities September 2012 to February 2018, fixed rates at rates from 0.91% to 4.81%, averaging 3.09%	$	83,000
December 31, 2010
Maturities January 2011 to February 2018, fixed rates at rates from 1.34% to 4.81%, averaging 3.24%	$	87,000

Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $205.8 million of first mortgage loans at year-end 2011 and $243.0 million of first mortgage loans and $11.1 million of residential mortgage-backed securities at year-end 2010 under a blanket lien arrangement. Based on this collateral, the Company's holdings of FHLB stock and a general borrowing limit of $100.0 million, the Company is eligible to borrow up to an additional $5.2 million at year-end 2011.

Required payments over the next five years are as follows:

	Amount
	(In thousands)
2012	$	13,000
2013		3,500
2014		42,000
2015		8,500
2016		5,000
Thereafter		11,000
	$	83,000