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BORROWINGS
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
BORROWINGS
BORROWINGS

At June 30, 2019, the Bank had secured borrowing potential with the Federal Home Loan Bank of New York (“FHLBNY”) for borrowings of up to $333.4 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 $333.4 million.  At June 30, 2019, the Bank had the ability to borrow up to $195.1 million at FHLBNY and $10.0 million at ACBB.
 
At June 30, 2019 and December 31, 2018, the Company had $120.4 million and $175.3 million, respectively, in short term advances at the FHLBNY, having weighted average interest rates of 2.47% and 2.66%, 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.

As of June 30, 2019 and December 31, 2018, respectively, the Company had $32.3 million and $44.6 million in long-term fixed rate advances.