FHLB Advances (Notes)

12 Months Ended

Dec. 31, 2015

Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]

FHLB ADVANCES

The Company’s wholly owned subsidiary, Mackinaw Insurance Company, LLC (or "Mackinaw") is a member of the FHLB of Indianapolis (or "FHLBI"). Please refer to Note 13 for important information regarding the Company's ability to continue using FHLB advances in the future.

The following table summarizes certain information about the Company's FHLB advances outstanding as of December 31, 2015:



	December 31, 2015
Remaining Term to Maturity	Agency RMBS Collateral		Agency CMBS Collateral		Total		Weighted Average Rate
30 to 90 days	$	17,000	$	240,000	$	257,000	0.28	%
91 days to 1 year	—		263,000		263,000		0.51	%
	$	17,000	$	503,000	$	520,000	0.40	%

The Company had MBS with a fair value of $541,771 pledged as collateral for its FHLB advances as of December 31, 2015 and had interest expense of $541 related to its FHLB advances for the year ended December 31, 2015.

As a condition to membership in the FHLBI, the Company had stock in the FHLBI totaling $11,475 as of December 31, 2015 which is shown on the Company's consolidated balance sheet as "Investment in FHLB stock". FHLB stock is considered a non-marketable, long-term investment, is carried at cost and is subject to recoverability testing under applicable accounting standards. This stock can only be redeemed or sold at its par value and only to the FHLBI.