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FEDERAL HOME LOAN BANK ADVANCES
9 Months Ended
Sep. 30, 2013
FEDERAL HOME LOAN BANK ADVANCES  
FEDERAL HOME LOAN BANK ADVANCES

10. FEDERAL HOME LOAN BANK ADVANCES

 

As of September 30, 2013, there were two term advances outstanding from the Federal Home Loan Bank totaling $40.0 million with an average fixed interest rate of 0.40% that will mature during the fourth 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.  There were no overnight borrowings outstanding as of September 30, 2013 and December 31, 2012.