Federal Home Loan Bank Advances

6 Months Ended

Jun. 30, 2012

Regulatory Matters [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

7. FEDERAL HOME LOAN BANK ADVANCES

Our outstanding balances at June 30, 2012 totaled $35.0 million and mature at varying dates from December 2013 through May 2017, with fixed rates of interest from 1.22% to 3.23% and averaging 2.04%. 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 June 30, 2012 totaled about $118 million, with availability approximating $79 million.

Maturities of currently outstanding FHLB advances are as follows:

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