Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2012

Deposits/Federal Home Loan Bank Advances/Securities Sold under Agreement to Repurchase and Other Borrowings/Regulatory Capital Requirements [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

11. FEDERAL HOME LOAN BANK ADVANCES

The following is a summary of FHLB advances:

	December 31,
	2012					2011
	(Dollars in thousands)
Year of maturity	Amount		Weighted average rate			Amount		Weighted average rate
2012		n/a		n/a		$	51,269		0.26	%
2013	$	—		—	%		21,443		2.39
2014		—		—			104		3.70
2015		—		—			5,084		2.62
2016		—		—			67		3.70
2017		50,000		4.20			50,052		4.20
Thereafter		—		—			136		3.70
Total Federal Home Loan Bank advances	$	50,000		4.20	%	$	128,155		2.26	%

Home Savings has available credit, subject to collateral requirements, with the FHLB of approximately $226.7 million, of which $50.0 million in term advances was outstanding. At December 31, 2012, Home Savings would have incurred a prepayment penalty of $7.1 million if it had chosen to prepay such remaining term advances with the FHLB. All advances must be secured by eligible collateral as specified by the FHLB. Accordingly, Home Savings has a blanket pledge of its one-to four-family mortgages as collateral for the advances outstanding at December 31, 2012. The required minimum ratio of collateral to advances is 142% for one-to four-family loans. Additional changes in value can be applied to one-to four-family mortgage collateral based upon characteristics such as loan-to-value ratios and FICO scores.