Note 7. Borrowings

At June 30, 2013, The Bank of Greene County had pledged approximately $188.1 million of its residential mortgage portfolio as collateral for borrowing at the Federal Home Loan Bank (“FHLB”). The maximum amount of funding available from the FHLB through either overnight advances or term borrowings was $151.1 million at June 30, 2013, of which $4.0 million in term borrowings were outstanding at June 30, 2013. There were $10.6 million of overnight borrowings outstanding at June 30, 2013. Interest rates on overnight borrowings are determined at the time of borrowing. Term borrowings consisted of two $2.0 million fixed rate, fixed term advances with a weighted average rate of 1.47% and a weighted average maturity of 74 months. During the year ended June 30, 2013, the Company repaid $7.0 million of borrowings.

The Bank also pledges securities as collateral at the Federal Reserve Bank discount window for overnight borrowings. At June 30, 2013, approximately $5.2 million of collateral was available to be pledged against potential borrowings at the Federal Reserve Bank discount window. There were no balances outstanding with the Federal Reserve Bank at June 30, 2013 or 2012.

The Bank of Greene County has established an unsecured line of credit with Atlantic Central Bankers Bank for $6.0 million. The line of credit provides for overnight borrowing and the interest rate is determined at the time of the borrowing. At June 30, 2013 and 2012 there were no balances outstanding with Atlantic Central Bankers Bank, and there was no activity during the years ended June 30, 2013 and 2012.

Scheduled maturities of term borrowings at June 30, 2013 were as follows:


(In thousands)
Fiscal year end
Due after 2018	$	4,000
	$	4,000