FEDERAL HOME LOAN BANK ADVANCES

3 Months Ended

Mar. 31, 2012

FEDERAL HOME LOAN BANK ADVANCES [Abstract]

NOTE 4 - FEDERAL HOME LOAN BANK ADVANCES

The Banks own stock of the Federal Home Loan Bank (FHLB) of Cincinnati, Ohio, the FHLB of Pittsburgh, Pennsylvania, and the FHLB of Atlanta, Georgia. This stock allows the Banks to borrow advances from the FHLB.

Advances from the FHLB at March 31, 2012 and December 31, 2011 were as follows:

	2012		2011
Payments due at maturity in March 2012, fixed rate at 1.81%	$	-	$	10,042
Payments due monthly with maturity in July 2012, fixed rate at 4.40%		24		41
	$	24	$	10,083

Advances are secured by the FHLB stock, certain pledged investment securities and substantially all single family first mortgage loans of the participating Banks. Principal payments on all FHLB advances are due during the year ending December 31, 2012.

- Definition

The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances.

+ References

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+ Details