Other Borrowings

9 Months Ended

Sep. 30, 2013

Other Borrowings [Abstract]

OTHER BORROWINGS

NOTE 7 - OTHER BORROWINGS

There were no outstanding borrowings with the Federal Reserve Bank (the “FRB”) at September 30, 2013 or at December 31, 2012. 

Assets pledged as collateral with the FRB were as follows:

	September 30, 2013		December 31, 2012
Commercial Loans		14,840		9,352
Commercial Real Estate Loans		22,571		16,700
Total	$	37,411	$	26,052

Based on the collateral pledged, CFBank was eligible to borrow up to $23,082 from the FRB at September 30, 2013. 

CFBank had a $1.0 million line of credit with a commercial bank at both September 30, 2013 and December 31, 2012. There were no outstanding borrowings on this line of credit at September 30, 2013 and December 31, 2012.  Interest on this line accrues daily and is variable based on the commercial bank’s cost of funds and current market returns.