Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2011

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

FEDERAL HOME LOAN BANK ADVANCES

NOTE 7 - FEDERAL HOME LOAN BANK ADVANCES

Our outstanding balances at December 31, 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 and 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 December 31, 2011 totaled $97.7 million, with availability of $50.9 million.

Maturities over the next five years are:

2012	$	30,000,000
2013		10,000,000
2014		5,000,000
2015		0
2016		0