Note 8: Advances From Federal Home Loan Bank

12 Months Ended

Jun. 30, 2014

Notes

Note 8: Advances From Federal Home Loan Bank

NOTE 8:  Advances from Federal Home Loan Bank

Advances from Federal Home Loan Bank are summarized as follows:

	Call Date or Quarterly	Interest	June 30,
Maturity	Thereafter	Rate	2014	2013
08/31/15	8/31/2015	4.80%	$523,515	$-
11/29/16	8/29/2014	3.88%	5,000,000	5,000,000
11/29/16	8/29/2014	4.36%	5,000,000	5,000,000
11/20/17	8/20/2014	3.82%	3,000,000	3,000,000
11/29/17	8/29/2014	4.01%	2,500,000	2,500,000
08/13/18	8/13/2014	3.32%	548,691	-
08/14/18	8/14/2014	3.48%	4,000,000	4,000,000
08/14/18	8/14/2014	3.98%	5,000,000	5,000,000
Fed Funds		0.28%	59,900,000	-
		TOTAL	$85,472,206	$24,500,000
Weighted-average rate			1.38%	3.94%

In addition to the above advances, the Bank had an available line of credit amounting to $195,792,000 and $188,696,000, with the FHLB at June 30, 2014 and 2013, respectively.

Advances from FHLB of Des Moines are secured by FHLB stock and commercial real estate and one- to four-family mortgage loans pledged.  To secure outstanding advances and the Bank’s line of credit, loans totaling $396.4 million and $311.5 million, respectively, were pledged to the FHLB at June 30, 2014 and 2013, respectively. The principal maturities of FHLB advances at June 30, 2014, are below:

FHLB Advance Maturities	June 30, 2014
July 1, 2014 to June 30, 2015	59,900,000
July 1, 2015 to June 30, 2016	523,515
July 1, 2016 to June 30, 2017	10,000,000
July 1, 2017 to June 30, 2018	5,500,000
July 1, 2018 to June 30, 2019	9,548,691
July 1, 2019 to thereafter	-
TOTAL	85,472,206