SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES

12 Months Ended

Dec. 31, 2013

SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES [Abstract]

SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES

9. SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES

Short-term FHLB advances totaled $25.0 million at December 31, 2013.  There were no short-term FHLB advances outstanding at December 31, 2012.  The short-term FHLB advances at December 31, 2013 consisted of one FHLB advance with a maturity of 87 days at a fixed interest rate of 0.15%.

The short-term and long-term FHLB advances are collateralized by a blanket lien on first mortgages and other qualifying loans totaling $180.6 million.

As of December 31, 2013 and 2012, the Company had $130.4 million and $206.1 million, respectively, of additional FHLB advances available.