Note 10:

Long Term Debt

On June 30, 2013, the Bank had FHLB debt consisting of two advances (see table below). The $10 million advance was restructured during the second quarter of 2013 to extend the maturity and reduce the interest rate from 4.23% to a three month LIBOR-based floating rate advance.

Advances on the FHLB lines are secured by a blanket lien on qualified 1 to 4 family residential real estate loans with a lendable collateral value of $52.3 million. Immediate available credit, as of June 30, 2013, was $35.4 million. With additional collateral, the total line of credit is worth $65.6 million, with $48.6 million available.

The two advances are shown in the following table.


Description	Balance		Acquired		Current Interest Rate			Maturity Date

Adjustable Rate Hybrid	$	10,000,000		4/12/2013		2.38	%		4/13/2020
Fixed Rate Hybrid		5,000,000		5/20/2011		2.69	%		5/20/2014

	$	15,000,000