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Long-Term Borrowings
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Long-term Borrowings

Long-term borrowings:

There were $65.0 million in long-term Federal Home Loan Bank Advances at June 30, 2021 with a weighted average interest rate of 1.38%.  Long-term Federal Home Loan Bank Advances were $67.0 million at December 31, 2020 and had a weighted average interest rate of 1.39%.  In addition, the Company had two Trust Preferred Debentures with an outstanding balance of $9.5 million at June 30, 2021 and $9.4 million at December 31, 2020.  Both of these debentures mature in calendar year 2036.  The debentures have a weighted average interest rate of 1.90% and 1.99% at June 30, 2021 and December 31, 2020, respectively.

Long-term and short-term FHLB advances are secured by a blanket pledge of residential mortgage, commercial real estate, and multi-family loans.  Based on this collateral, the Bank is eligible to borrow an additional $532.9 million at June 30, 2021.  Each advance is subject to a prepayment penalty if paid prior to its maturity date.