Federal Home Loan Bank Advances

9 Months Ended

Sep. 30, 2011

Deposits, Federal Home Loan Bank Advances and Regulatory Matters [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

7. FEDERAL HOME LOAN BANK ADVANCES

Our outstanding balances at September 30, 2011 totaled $45.0 million and mature at varying dates from March 2012 through January 2014, with fixed rates of interest from 3.04% to 4.42% and averaging 3.57%. At December 31, 2010, outstanding balances totaled $65.0 million with maturities ranging from June 2011 through January 2014, with fixed rates of interest from 3.04% to 4.42% and averaging 3.73%.

Each advance is payable at its maturity date, and is subject to a prepayment fee if paid prior to the maturity date. The advances are collateralized by residential mortgage loans, first mortgage liens on multi-family residential property loans, first mortgage liens on commercial real estate property loans, and substantially all other assets of our bank, under a blanket lien arrangement. Our borrowing line of credit as of September 30, 2011 totaled about $117.0 million, with availability approximating $70.0 million.

Maturities of currently outstanding FHLB advances during the next 60 months are:

2011	$	0
2012		30,000,000
2013		10,000,000
2014		5,000,000
2015		0