Federal Home Loan Bank Advances

3 Months Ended

Mar. 31, 2013

Federal Home Loan Bank Advances/Regulatory Matters [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

7. FEDERAL HOME LOAN BANK ADVANCES

Our Federal Home Loan Bank advances totaled $35.0 million at March 31, 2013 and December 31, 2012 and mature at varying dates from March 2017 through September 2017, with fixed rates of interest from 1.22% to 1.51% and averaging 1.35%. 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, 2013 totaled about $157 million, with availability approximating $116 million.

Maturities of currently outstanding FHLB advances are as follows:

2013	$	0
2014		0
2015		0
2016		0
2017		35,000,000