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Advances from Federal Home Loan Bank | 12 Months Ended
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Dec. 31, 2014
Advances from Federal Home Loan Bank [Abstract] |
Advances from Federal Home Loan Bank | 11. Advances from Federal Home Loan Bank Federal Home Loan Bank advances consisted of the following monthly amortizing and term borrowings at December 31:
(in thousands) |  | 2014 |  |  | 2013 |
Monthly amortizing |  | $ | 1,170 |  |  | $ | 1,286 |
Term |  |  | 60,000 |  |  |  | 0 |
Total FHLB advances |  | $ | 61,170 |  |  | $ | 1,286 |
The advances from the FHLB that require monthly principal payments were due for repayment as follows:
|  | Principal Payments Due by Period at December 31, 2014 |
(in thousands) |  | Total |  |  | Within 1 Year |  |  | 2 Years |  |  | 3 Years |  |  | 4 Years |  |  | 5 Years |  |  | After 5 Years |
Outstanding advances, weighted average interest rate – 1.70% |  | $ | 1,170 |  |  | $ | 123 |  |  | $ | 111 |  |  | $ | 98 |  |  | $ | 404 |  |  | $ | 20 |  |  | $ | 414 |
At December 31, 2013, CTBI had monthly amortizing FHLB advances totaling $1.3 million at a weighted average interest rate of 1.84%. The term advances that require the total payment to be made at maturity follow:
(in thousands) December 31 |  | 2014 |  |  | 2013 |
Advance #275, 0.17%, due 1/05/15 |  | $ | 60,000 |  |  | $ | 0 |
Total term advances |  | $ | 60,000 |  |  | $ | 0 |
Advances totaling $61.2 million at December 31, 2014 were collateralized by FHLB stock of $17.9 million and a blanket lien on qualifying first mortgage loans. As of December 31, 2014, CTBI had a $483.0 million FHLB borrowing capacity with $61.2 million in advances and $109.5 million in letters of credit used for public fund pledging leaving $312.3 million available for additional advances. The advances had fixed interest rates ranging from 0.00% to 6.42% with a weighted average rate of 0.20%. The advances are subject to restrictions or penalties in the event of prepayment. Advance #275 matured and was replaced with advances #279 and #280 with a weighted average interest rate of 0.17% maturing on February 3, 2015 totaling $80 million. There were no term advances at December 31, 2013.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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