Note 20—Other Long-term Debt

Other long-term debt at December 31 follows:


	2011								2010
	Amount		Weighted Average Contractual Rate			Weighted Average Effective Rate			Amount		Weighted Average Contractual Rate			Weighted Average Effective Rate
	(dollars in thousands)
ESOP loan due:
2011									$	2,000		LIBOR + 1.00	%		LIBOR + 1.00	%
2012	$	1,600		LIBOR + 1.00	%		LIBOR + 1.00	%		1,600		LIBOR + 1.00			LIBOR + 1.00
Borrowings from FHLB due:
2011										24,685		5.22			5.19
2012		25,585		1.54			1.53			25,593		2.43			2.42
2013		30,085		2.32			2.32			30,086		3.03			3.02
2014		7,891		5.37			5.35			7,892		5.37			5.35
2015		29,970		1.37			1.37			371		4.66			4.66
2016		388		4.64			4.64
Thereafter		6,145		4.66			4.66			6,521		4.66			4.66

Total	$	101,664							$	98,748

The weighted average contractual rate reflects the rate due to creditors. The weighted average effective rate of long-term debt in the schedule above includes the effect of purchase accounting valuation adjustments that were recorded in connection with prior business combinations.

An FHLB advance in the amount of $7.5 million is convertible on a quarterly basis at the FHLB's option into floating rate debt indexed to 3 month LIBOR.

All of First Commonwealth's Federal Home Loan Bank stock, along with an interest in mortgage loans and mortgage backed securities—residential has been pledged as collateral with the Federal Home Loan Bank of Pittsburgh.

Capital securities included in total long-term debt on the Consolidated Statements of Financial Condition are excluded from the above, but are described in Note 19 "Subordinated Debentures."

Scheduled loan payments for other long-term debt are summarized below:


	2012		2013		2014		2015		2016		Thereafter		Total
	(dollars in thousands)
Long-term debt payments	$	27,072	$	29,968	$	7,854	$	29,970	$	388	$	6,145	$	101,397
Purchase valuation amortization		113		117		37		0		0		0		267

Total	$	27,185	$	30,085	$	7,891	$	29,970	$	388	$	6,145	$	101,664

The amounts on the purchase valuation amortization row in the table above include fair market adjustments from prior business combinations.