FHLB Advances

3 Months Ended

Mar. 31, 2012

FHLB Advances and Regulatory Capital Matters [Abstract]

FHLB ADVANCES

NOTE 7 – FHLB ADVANCES

Advances from the FHLB were as follows:

	Rate			March 31, 2012		December 31, 2011
Fixed-rate advances:
Maturing:
April 2012		2.30	%	$	5,000	$	5,000
June 2012		2.05	%		742		742
January 2014		3.12	%		5,000		5,000
May 2014		3.06	%		5,000		5,000
Total				$	15,742	$	15,742

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

The advances were collateralized as follows:

	March 31, 2012		December 31, 2011
Single-family mortgage loans	$	10,245	$	11,141
Multi-family mortgage loans		5,679		4,222
Commercial real estate loans		1,879		3,384
Securities		8,015		9,336
Cash		1,800		800
Total	$	27,618	$	28,883

Based on the collateral pledged to FHLB and CFBank’s holdings of FHLB stock, CFBank was eligible to borrow up to a total of $20,334 from the FHLB at March 31, 2012. In May 2011, CFBank was notified by the FHLB that, due to regulatory considerations, CFBank was only eligible for future advances with a maximum maturity of one year. CFBank was notified by the FHLB that the maximum maturity for future advances was further reduced to 180 days in November 2011 and 30 days in April 2012.

Payment information

Payments due during the twelve months ended:
March 31, 2013	$	5,742
March 31, 2014		5,000
March 31, 2015		5,000
Total	$	15,742