FHLB Advances

9 Months Ended

Sep. 30, 2011

FHLB Advances and Regulatory Matters [Abstract]

FHLB ADVANCES

NOTE 6 —FHLB ADVANCES

Advances from the FHLB were as follows:

				September 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
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				$	15,742	$	23,942

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

The advances were collateralized as follows:

	September 30,		December 31,
	2011		2010
First mortgage loans under a blanket lien arrangement	$	11,567	$	14,922
Multi-family mortgage loans		4,010		10,670
Commercial real estate loans		3,415		1,985
Securities		10,298		10,657
Cash		800		800
Total	$	30,090	$	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 $20,601 from the FHLB at September 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 follow:
September 30, 2012	$	5,742
September 30, 2014		10,000
Total	$	15,742