FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES

12 Months Ended

Dec. 31, 2017

Advances from Federal Home Loan Banks [Abstract]

FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES

The following is a summary of FHLBNY fixed rate advances at December 31, 2017 and 2016. The carrying amount includes the advance balance plus purchase accounting adjustments that are amortized over the term of the advance (in thousands):



2017
Amount		Rate		Maturity Date	Call Date
$	57,700	1.53	%	January 2, 2018	-
2,000		3.05	%	January 2, 2018	-
$	59,700	1.58	%



2016
Amount		Rate		Maturity Date	Call Date
$	4,041	3.90	%	October 19, 2017	January 19, 2017
3,031		2.91	%	December 4, 2017	March 3, 2017
2,021		3.05	%	January 2, 2018	April 1, 2017
$	9,093	3.38	%

Each advance is payable at its maturity date, with a prepayment penalty for term advances. The Corporation has pledged $149.7 million and $158.0 million of first mortgage loans under a blanket lien arrangement at December 31, 2017 and 2016, respectively, as collateral for theses advances and future borrowings. Based on this collateral and the Corporation’s holdings of FHLBNY stock, the Corporation is eligible to borrow up to a total of $73.5 million at year-end 2017.

Payments over the next five years are as follows:



Year	Amount
2018	$	59,700
2019	—
2020	—
2021	—
2022	—
Total	$	59,700