FEDERAL HOME LOAN BANK BORROWINGS

12 Months Ended

Dec. 31, 2012

Federal Home Loan Bank, Advances [Text Block]

NOTE 8 – FEDERAL HOME LOAN BANK BORROWINGS

The Bank is a member of the FHLB of Indianapolis. Based on its current FHLB stock holdings and collateral, the Bank has the capacity to borrow $2,132,347. Each borrowing requires a direct pledge of securities and or loans. To support potential borrowings with the FHLB, the Bank had residential loans with a fair market value of $2,665,434 pledged at year-end 2012 and $3,760,249 pledged at year-end 2011. The Bank had no outstanding borrowings with the FHLB at either December 31, 2011 or 2012.