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Note 9: Advances From Federal Home Loan Bank | 12 Months Ended
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Dec. 31, 2015
Notes |
Note 9: Advances From Federal Home Loan Bank | Note 9: Advances From Federal Home Loan Bank Advances from the Federal Home Loan Bank at December 31, 2015 and 2014, consisted of the following:
| December 31, 2015 |  | December 31, 2014
|  | Weighted |  |  | Weighted
|  | Average |  |  | Average
|  | Interest |  |  | Interest
Due In | Amount | Rate |  | Amount | Rate
(In Thousands) |  |  |  |  |
2015 | $-- | --% |  | $240,065 | 0.41%
2016 | 232,071 | 0.42 |  | 70 | 5.14
2017 | 30,826 | 3.26 |  | 30,826 | 3.26
2018 | 81 | 5.14 |  | 81 | 5.14
2019 | 28 | 5.14 |  | 28 | 5.14
2020 | -- | -- |  | -- | --
2021 and thereafter | 500 | 5.54 |  | 500 | 5.54
| 263,506 | 0.76 |  | 271,570 | 0.75
Unamortized fair value adjustment | 40 |  |  | 71 |
| $263,546 |  |  | $271,641 |
Also included in the Bank’s FHLB advances at December 31, 2015 and December 31, 2014, was a $30.0 million advance with a maturity date of November 24, 2017. The interest rate on this advance is 3.20%. The advance has a call provision that allows the Federal Home Loan Bank of Des Moines to call the advance quarterly. In June 2014 the Company prepaid a total of $80 million of its Federal Home Loan Bank advances and $50 million of structured repurchase agreements (see Note 12) as part of a strategy to utilize the Bank’s liquidity and improve net interest margin. As a result, the Company incurred one-time prepayment penalties totaling $7.4 million, which were included in other operating expenses in 2014. The Bank has pledged FHLB stock, investment securities and first mortgage loans free of pledges, liens and encumbrances as collateral for outstanding advances. No investment securities were specifically pledged as collateral for advances at December 31, 2015 and 2014. Loans with carrying values of approximately $1.21 billion and $1.10 billion were pledged as collateral for outstanding advances at December 31, 2015 and 2014, respectively. The Bank had potentially available $505.5 million remaining on its line of credit under a borrowing arrangement with the FHLB of Des Moines at December 31, 2015.

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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 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 2: 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 3: 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 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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