Federal Home Loan Bank Advances

6 Months Ended

Jun. 30, 2011

Federal Home Loan Bank Advances [Abstract]

Federal Home Loan Bank Advances

(9) Federal Home Loan Bank Advances

Federal Home Loan Bank advances amounted to $42,499 and $42,501 at June 30, 2011 and December 31, 2010, respectively. All advances are bullet maturities with no call features. At June 30, 2011, collateral pledged for FHLB advances consisted of qualified real estate mortgage loans and investment securities of $56,041 and $31,252, respectively. The maximum borrowing capacity of the Bank at June 30, 2011 was $50,084 with unused collateral borrowing capacity of $6,051. The Bank maintains a $40,000 cash management line of credit (CMA) with the FHLB. The amount outstanding was $0 for the CMA line of credit as of June 30, 2011 and December 31, 2010.

Maturities of FHLB advances outstanding at June 30, 2011 and December 31, 2010 are as follows.

	June 30, 2011		December 31, 2010
	(Dollars in thousands)
Maturities January 2011 through February 2011, with fixed rates ranging from 3.17% to 3.67%	$	—	$	15,000
Maturity January 2012, fixed rate 2.37%		15,000		15,000
Maturities January 2014 though August 2014, fixed rates ranging from 2.06% to 3.55%		15,034		10,040
Maturity January 2015 fixed rate 2.00% and July 2015, fixed rate 4.76%		12,465		2,461
Total FHLB advances	$	42,499	$	42,501