SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES

12 Months Ended

Dec. 31, 2015

Advances from Federal Home Loan Banks [Abstract]

SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES

SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES

Short-term FHLB advances totaled $25.0 million at December 31, 2015 and 2014.  The short-term FHLB advances at December 31, 2015 consisted of one FHLB advance with a maturity of 4 months at a fixed interest rate of 0.30%. The short-term FHLB advances at December 31, 2014 consisted of one FHLB advance with a maturity of 87 days at a fixed interest rate of 0.13%.

The short-term and long-term FHLB advances at December 31, 2015 and 2014 are collateralized by a blanket lien on first mortgages and other qualifying loans totaling $268.6 million and $364.4 million, respectively.

As of December 31, 2015 and 2014, the Company had $218.5 million and $314.2 million, respectively, of additional FHLB advances available.