Federal Home Loan Bank Advances

3 Months Ended

Mar. 31, 2012

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

FEDERAL HOME LOAN BANK ADVANCES

7. FEDERAL HOME LOAN BANK ADVANCES

Our outstanding balances at March 31, 2012 totaled $45.0 million and mature at varying dates from April 2012 through March 2017, with fixed rates of interest from 1.25% to 4.42% and averaging 3.13%. At December 31, 2011, outstanding balances totaled $45.0 million with maturities ranging from March 2012 through January 2014, with fixed rates of interest from 3.04% to 4.42% and averaging 3.57%.

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 March 31, 2012 totaled about $89 million, with availability approximating $40 million.

Maturities of currently outstanding FHLB advances are as follows:

2012	$	20,000,000
2013		10,000,000
2014		5,000,000
2015		0
2016		0
2017		10,000,000