BORROWINGS	3 Months Ended
Mar. 31, 2020
BORROWINGS
BORROWINGS	NOTE 13 – BORROWINGS At March 31, 2020, the Bank had secured borrowing potential with the Federal Home Loan Bank of New York (“FHLBNY”) for borrowings of up to $320.8 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 $320.8 million. At March 31, 2020, the Bank had the ability to borrow up to $110.1 million at FHLBNY and $10.0 million at ACBB. At March 31, 2020 and December 31, 2019, the Company had $196.1 million and $193.0 million, respectively, in short term advances at the FHLBNY, having weighted average interest rates of 0.91% and 1.81%, 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 March 31, 2020 and December 31, 2019, respectively, the Company had $34.1 million and $40.1 million in long-term fixed rate advances.

BORROWINGS

3 Months Ended

Mar. 31, 2020

NOTE 13 – BORROWINGS

At March 31, 2020, the Bank had secured borrowing potential with the Federal Home Loan Bank of New York (“FHLBNY”) for borrowings of up to $320.8 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 $320.8 million. At March 31, 2020, the Bank had the ability to borrow up to $110.1 million at FHLBNY and $10.0 million at ACBB.

At March 31, 2020 and December 31, 2019, the Company had $196.1 million and $193.0 million, respectively, in short term advances at the FHLBNY, having weighted average interest rates of 0.91% and 1.81%, 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 March 31, 2020 and December 31, 2019, respectively, the Company had $34.1 million and $40.1 million in long-term fixed rate advances.