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FEDERAL HOME LOAN BANK ADVANCES
6 Months Ended
Jun. 30, 2013
FEDERAL HOME LOAN BANK ADVANCES  
FEDERAL HOME LOAN BANK ADVANCES

10. FEDERAL HOME LOAN BANK ADVANCES

 

As of June 30, 2013, there was one term advance outstanding from the Federal Home Loan Bank for $15.0 million with a fixed interest rate of 0.46% that will mature during the third quarter of 2013. As of December 31, 2012, there was one term advance outstanding from the Federal Home Loan Bank for $15.0 million with a fixed interest rate of 0.39% that matured during the first quarter of 2013. The borrowings were collateralized by a blanket lien on residential and commercial mortgages.  As of June 30, 2013, there was $60.0 million in overnight borrowings outstanding from the Federal Home Loan Bank with a fixed interest rate of 0.41%.  There were no overnight borrowings outstanding December 31, 2012 or June 30, 2012.