XML 92 R13.htm IDEA: XBRL DOCUMENT

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

6 Months Ended

Jun. 30, 2013

Federal Home Loan Bank Advances And Other Borrowings

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

4. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

Advances from the Federal Home Loan Bank of New York (FHLB) totaled $12.0 million and $12.2 million at June 30, 2013 and December 31, 2012, respectively, with a weighted average interest rate of 3.05 and 3.03 percent, respectively. At June 30, 2013, the $12.0 million are variable rate advances, with a weighted average interest rate of 3.01 percent, that are noncallable for two or three years and then callable quarterly with final maturities of ten years from the original date of the advance. All of these advances are beyond their initial noncallable periods and are secured by pledges of investment securities totaling $12.8 million at June 30, 2013.

There were no overnight borrowings at June 30, 2013 and December 31, 2012.

The final maturity dates of the advances and other borrowings are scheduled as follows:

(In thousands)
2013		$	—
2014			—
2015			—
2016			—
2017			3,000
Over 5 years			9,000
Total		$	12,000

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details