FEDERAL HOME LOAN BANK ADVANCES

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

10. FEDERAL HOME LOAN BANK ADVANCES

The following table sets forth the contractual maturities and weighted average interest rates of FHLB advances for each of the next five years and the period thereafter at September 30, 2015 and December 31, 2014:

	September  30, 2015
Contractual Maturity	Amount		Weighted  Average Rate
(Dollars in thousands)
Overnight	$	—		—
2015		50,000		0.46	%
2016		14,659		0.61	%
2017		19,159		0.74	%
2018		25,868		1.04	%
2019		3,186		1.09	%
		112,842		0.67	%
	$	112,842		0.67	%

	December 31, 2014
Contractual Maturity	Amount		Weighted  Average Rate
(Dollars in thousands)
Overnight	$	69,000		0.32	%
2015		41,508		0.37	%
2016		11,703		0.69	%
2017		—		—
2018		16,116		1.00	%
		69,327		0.57	%
	$	138,327		0.44	%

Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $578.0 million and $385.2 million of residential and commercial mortgage loans under a blanket lien arrangement at September 30, 2015 and December 31, 2014, respectively. The Company is eligible to borrow up to a total of $1.0 billion at September 30, 2015.