Long-Term Borrowings

12 Months Ended

Dec. 31, 2011

(10) LONG-TERM BORROWINGS

The Company has a line of credit from the Federal Home Loan Bank ("FHLB") of Topeka, Kansas to use for liquidity or to match-fund certain long-term fixed rate loans. The Company's assets, including residential first mortgages of $503.8 million, are pledged as collateral for the borrowings under the line of credit. As of December 31, 2011, the Company had the ability to draw up to $48.8 million on the FHLB line of credit based on FHLB stock holdings of $3.0 million with approximately $18.5 million in advances outstanding due to recent acquisitions. The advances mature at varying dates through 2014 and had rates between 1.7% and 4.6% at December 31, 2011.

On December 13, 2010, the Company borrowed $14.5 million from a commercial bank for a three year term. The loan had an interest rate of 3% per annum, payable quarterly on the first day of March, June, September and December until the maturity date of November 30, 2013. Scheduled principal payments were due on or before November 30, 2011 and November 30, 2012 equal to 25% of the unpaid principal amount outstanding. The loan could be prepaid in whole or in part without fee or penalty at any time. The proceeds were used to fund a portion of the Company's recent acquisitions. The Company made an advance payment of $6.0 million on July 22, 2011 and paid off the remaining balance of $8.5 million on October 25, 2011.

The following table shows the contractual maturities of the long-term borrowings at December 31, 2011, (Dollars in thousands):


2012	$	9,294
2013		5,182
2014		4,000

Total	$	18,476