FHLB ADVANCES

9 Months Ended

Sep. 30, 2012

FHLB ADVANCES

NOTE 7 – FHLB ADVANCES

Advances from the FHLB were as follows:

	Rate			September 30, 2012		December 31, 2011
Maturing:
April 2012		2.30	%	$	—	$	5,000
June 2012		2.05	%		—		742
January 2014		3.12	%		5,000		5,000
May 2014		3.06	%		5,000		5,000
Total				$	10,000	$	15,742

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

The advances were collateralized as follows:

	September 30, 2012		December 31, 2011
Single-family mortgage loans	$	9,263	$	11,141
Multi-family mortgage loans		5,036		4,222
Commercial real estate loans		1,254		3,384
Securities		6,691		9,336
Cash		3,300		800
Total	$	25,544	$	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 $20,116 from the FHLB at September 30, 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 subsequently 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:
September 30, 2014	$	10,000
Total	$	10,000