NOTE 10 –FHLB ADVANCES

Fixed Rate Advances from the FHLB were as follows:



	Rate		December 31, 2014		December 31, 2013
Fixed Rate Advances
Maturities:
January 2014	3.12%	$	-	$	5,000
May 2014	3.06%		-		5,000
January 2015	0.35%		2,500		-
May 2016	0.66%		3,000		-
November 2016	0.90%		2,000		-
September 2017	1.35%		1,500		-
July 2020	2.27%		2,500		-
July 2021	2.53%		3,000		-
Total		$	14,500	$	10,000

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

In January 2015, a $2,500 fixed-rate advance matured and was replaced with a $2,500 advance with a 54-month term and a fixed-rate of 1.70%.

The advances were collateralized as follows:



	December 31, 2014		December 31, 2013

Single-family mortgage loans	$	19,978	$	14,940
Multi-family mortgage loans		6,291		4,890
Commercial real estate loans		3,110		3,339
Securities		4,208		2,024
Cash		3,300		3,300
Total	$	36,887	$	28,493

Based on the collateral pledged to FHLB and CFBank’s holdings of FHLB stock, CFBank was eligible to borrow up to a total of $23,078 from the FHLB at December 31, 2014. As of December 31, 2013, CFBank was limited to borrowing term maturities not exceeding 365 days due to restrictions imposed by the FHLB due to the existence of the CFBank Order. With the termination of the CFBank Order effective January 23, 2014, the FHLB notified CFBank that the restriction on borrowings terms had been lifted, effective January 24, 2014.

Payments due over the next five years are as follows:


2015	$	2,500
2016		5,000
2017		1,500
2018		-
2019		-
	$	9,000