BORROWINGS

The Bank is a member of the FHLB, which entitles it to certain benefits including a variety of borrowing options consisting of a secured credit line that allows both fixed and variable rate advances. The FHLB borrowings at December 31, 2013 and 2012, consisted of a warehouse securities credit line (“securities line”), which allows advances with interest rates fixed at the time of borrowing and a warehouse cash management advance line (“CMA line”), which allows daily advances at variable interest rates. Credit capacity is primarily determined by the value of assets collateralized at the FHLB, funds on deposit at the FHLB, and stock owned by the Bank. Credit is limited to 15% of the Company’s total assets. The Bank entered into an Advanced, Pledges and Security Agreement with the FHLB for which specific loans are pledged to secure these credit lines. At December 31, 2013, loans of approximately $82.0 million were pledged to the FHLB with a borrowing capacity of $43.1 million. In addition, all FHLB stock owned by the Company is collateral for credit lines.

The Bank also maintains a short-term borrowing line with the FRB with total credit based on eligible collateral. The Bank can borrow under the Term Auction or Term Facility at rates published by the San Francisco FRB. As of December 31, 2013, the Bank had a borrowing capacity of $75.3 million of which none was outstanding. As of December 31, 2012, the Bank had a borrowing capacity of $67.5 million, of which none was outstanding. The Bank also had a $6.0 million unsecured, variable rate, over-night short-term borrowing line of credit with Pacific Coast Bankers' Bank, of which none was outstanding at December 31, 2013. The Bank also had a $11.0 million unsecured Fed Funds line of credit with a large financial institution of which none was outstanding at December 31, 2013.

Advances on these lines at December 31, 2013 and 2012 were as follows:



	2013		2012
Federal Home Loan Bank – Securities lines (interest ranging from 0.24% to 4.57% and 0.20% to 4.57% as of December 31, 2013 and 2012, respectively)	$	16,664	$	6,840
Total	$	16,664	$	6,840

The maximum and average outstanding and weighted average interest rates on borrowings during the years ended December 31, 2013 and 2012 were as follows:



	2013			2012
Maximum balance:
Federal Home Loan Bank advances	$	28,664		$	21,840
Federal Reserve Bank	$	—		$	—
Pacific Coast Bankers' Bank	$	1,850		$	2,000
Zions Bank	$	—		$	—
Average balance:
Federal Home Loan Bank advances	$	16,391		$	7,636
Federal Reserve Bank	$	—		$	—
Pacific Coast Bankers' Bank	$	18		$	6
Zions Bank	$	—		$	—
Weighted average interest rate:
Federal Home Loan Bank advances	0.85		%	0.91		%
Federal Reserve Bank	—		%	—		%
Pacific Coast Bankers' Bank	1.16		%	1.10		%
Zions Bank	—		%	—		%

NOTE 8 – BORROWINGS (Continued)

Scheduled maturities of the borrowings were as follows:



Year Ending			Interest
December 31,	Balances		Rates
2014	$	319	0.24	%
2015	1,700		4.57	%
2016	3,000		0.81	%
2017	5,140		2.75	%
2018	6,505		1.15	%
Thereafter	—		—	%
Total	$	16,664