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ADVANCES FROM FEDERAL HOME LOAN BANK
12 Months Ended
Dec. 31, 2019
Advances From Federal Home Loan Bank  
ADVANCES FROM FEDERAL HOME LOAN BANK

Note 12—ADVANCES FROM FEDERAL HOME LOAN BANK

Advances from the FHLB at December 31, 2019 and 2018, consisted of the following:

    December 31,  
(In thousands)   2019   2018  
Maturing   Amount   Rate   Amount   Rate  
2020     211     1.00 %   231     1.00 %
                           

As collateral for its advances, the Company has pledged in the form of blanket liens, eligible loans, in the amount of $25.9 million at December 31, 2019. Securities have been pledged as collateral for advances in the amount of $5.1 million as of December 31, 2019. As collateral for its advances, the Company has pledged in the form of blanket liens, eligible loans, in the amount of $26.6 million at December 31, 2018. Securities have been pledged as collateral for advances in the amount of $6.0 million as of December 31, 2018. Advances are subject to prepayment penalties. The average advances during 2019 and 2018 were $3.2 million and $4.1 million, respectively. The average interest rate for 2019 and 2018 was 2.39% and 1.58%, respectively. The maximum outstanding amount at any month end was $17.2 million and $25.3 million for 2019 and 2018, respectively.

During the years ended December 31, 2019 and December 31, 2018 there were no advances that were prepaid. Accordingly, no losses were realized on early extinguishment.