Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2012

Federal Home Loan Bank Advances

Note 10—Federal Home Loan Bank Advances

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

	Amount
December 31, 2012		(In thousands	)
Maturities January 2014 to December 2017, fixed rates at rates from 0.91% to 4.70%, averaging 2.67%	$	79,500
December 31, 2011
Maturities September 2012 to February 2018, fixed rates at rates from 0.91% to 4.81%, averaging 3.09%	$	83,000

Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $185.0 million and $205.8 million of first mortgage loans at year-end 2012 and 2011 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 $8.8 million at year-end 2012.

Required payments over the next five years are as follows:

	Amount
	(In thousands)
2013	$	0
2014		30,500
2015		5,500
2016		7,000
2017		36,500
Thereafter		0
	$	79,500