NOTE 11 – BORROWINGS

At December 31, 2018, the Bank had secured borrowing potential with the Federal Home Loan Bank of New York (“FHLBNY”) for borrowings of up to $367.9 million and a $10.0 million line of credit at Atlantic Central Bankers Bank (“ACBB”). The borrowings at the FHLBNY are secured by a pledge of qualifying residential and commercial mortgage loans, having an aggregate unpaid principal balance of approximately $367.9 million. At December 31, 2018, the Bank had the ability to borrow up to $179.6 million at FHLBNY and $10.0 million at ACBB.

At December 31, 2018 and 2017, the Company had $175.3 million and $55.4 million, respectively, in short term advances at the FHLBNY, having weighted average interest rates of 2.66% and 1.58%, respectively. These advances are priced at the federal funds rate plus a spread (generally between 20 and 30 basis points), re-price daily and mature within three months.

At December 31, 2018 and 2017 the Bank had the following long-term fixed rate borrowings:



(Dollars in thousands)	Borrowing Institution	Interest Rate	Balance at December 31,
Maturity Date	Borrowing Institution	Interest Rate	2018			2017
January 16, 2018	FHLBNY	1.18%	$	—		$	5,000
July 17, 2018	FHLBNY	1.65%	—			5,000
September 19, 2018	FHLBNY	1.83%	—			5,000
January 8, 2019	FHLBNY	1.68%	1,000			—
February 4, 2019	FHLBNY	1.53%	5,000			5,000
February 8, 2019	FHLBNY	1.70%	1,000			—
March 18, 2019	FHLBNY	1.45%	949			—
April 8, 2019	FHLBNY	1.73%	1,170			—
May 30, 2019	FHLBNY	1.91%	1,005			—
May 7, 2019	FHLBNY	2.39%	1,250			—
June 12, 2019	FHLBNY	1.52%	1,000			—
July 30, 2019	FHLBNY	2.19%	1,000			—
August 2, 2019	FHLBNY	1.05%	2,500			—
September 30, 2019	FHLBNY	2.21%	1,000			—
October 30, 2019	FHLBNY	2.22%	746			—
November 8, 2019	FHLBNY	2.38%	1,000			—
December 9, 2019	FHLBNY	2.39%	1,000			—
January 15, 2020	FHLBNY	1.66%	5,000			5,000
March 9, 2020	FHLBNY	2.43%	1,000			—
May 7, 2020	FHLBNY	2.68%	1,045			—
May 7, 2020	FHLBNY	2.68%	308			—
June 12, 2020	FHLBNY	1.69%	741			—
June 15, 2020	FHLBNY	2.69%	1,000			—
July 14, 2020	FHLBNY	2.70%	789			—
July 14, 2020	FHLBNY	2.70%	520			—
September 8, 2020	FHLBNY	2.51%	680			—
October 5, 2020	FHLBNY	1.78%	5,000			5,000
December 23, 2020	FHLBNY	2.79%	852			—
January 20, 2021 (1)	FHLBNY	2.07%	5,000			5,000
March 23, 2021	FHLBNY	2.83%	1,200			—
June 23, 2021	FHLBNY	3.07%	2,000			—
Fair value adjustment on acquired borrowings			(144		)	—
			$	44,611		$	35,000

(1) $5 million FHLB borrowing has a quarterly putable option that ends at maturity

Maturities of long-term debt in years subsequent to December 31, 2018 are as follows:



(Dollars in thousands)
Within one year	$	19,476
One to two years	16,935
Two to three years	8,200
Three to four years	—
Four to five years	—
After five years	—
	$	44,611

At December 31, 2018 the Company had $44.6 million in long-term fixed rate advances.