FHLB Advance

6 Months Ended

Jun. 30, 2011

FHLB Advance and Regulatory Matters [Abstract]

FHLB ADVANCES

NOTE 6 —FHLB ADVANCES

Advances from the FHLB were as follows:

				June 30,		December 31,
	Rate			2011		2010
Fixed-rate advances:
Maturing March 2011		1.90	%	$	—	$	2,200
Maturing April 2011		2.88	%		—		3,000
Maturing July 2011		3.85	%		3,000		3,000
Maturing April 2012		2.30	%		5,000		5,000
Maturing June 2012		2.05	%		742		742
Maturing January 2014		3.12	%		5,000		5,000
Maturing May 2014		3.06	%		5,000		5,000
Total				$	18,742	$	23,942

Each advance is payable at its maturity date, with a prepayment penalty for fixed-rate advances.

The advances were collateralized as follows:

	June 30,		December 31,
	2011		2010
First mortgage loans under a blanket lien arrangement	$	11,972	$	14,922
Multi-family mortgage loans		6,116		10,670
Commercial real estate loans		3,368		1,985
Securities		9,758		10,657
Cash		800		800
Total	$	32,014	$	39,034

Based on the collateral pledged to FHLB and CFBank’s holdings of FHLB stock, CFBank was eligible to borrow up to a total of $22,443 from the FHLB at June 30, 2011. In May 2011, CFBank was notified by the FHLB that, due to regulatory considerations, CFBank is only eligible for future advances with a maximum maturity of one year.

Payment information

Payments over the next five years are as follows:

June 30, 2012	$	8,742
June 30, 2014		10,000
Total	$	18,742