Note 10:

Long Term Debt

On June 30, 2014, the Bank had FHLB debt consisting of four 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. A $5 million advance with an interest rate of 2.69%, matured in May 2014 and was replaced with a new $5 million three month LIBOR-based floating rate advance. Two additional $5 million advances were drawn in June. Both were three month LIBOR-based floating rate advances.

The four advances are shown in the following table.


Description	Balance		Originated		Current Interest Rate			Maturity Date

Adjustable Rate Hybrid	$	10,000,000		4/12/2013		2.60705	%		4/13/2020
Adjustable Rate Credit		5,000,000		5/20/2014		0.22810	%		5/20/2015
Fixed Rate Credit		5,000,000		6/18/2014		0.26000	%		6/18/2015
Fixed Rate Credit		5,000,000		6/26/2014		0.26000	%		6/26/2015

	$	25,000,000

Advances on the FHLB lines are secured by a blanket lien on qualified 1 to 4 family residential real estate loans. Immediate available credit, as of June 30, 2014, was $38.5 million against a total line of credit is $65.5 million.