NOTE 11 - LONG-TERM BORROWINGS

At year end, long-term advances from the FHLB were as follows:

	2016					2015
			Weighted					Weighted
			Average					Average
	Amount		Rate			Amount		Rate
Fixed-rate constant payment advances, at rates from .61% to 1.70% at December 31, 2016 and 2015	$	7,876		1.57	%	$	15,054		1.24	%
Convertible and putable fixed-rate advance with a rate of 4.45% at December 31, 2016 and 2015		5,000		4.45	%		5,000		4.45	%
Total advances	$	12,876		2.69	%	$	20,054		2.04	%

The Bank has a total of $5 million in putable FHLB fixed-rate advances. Should the FHLB elect the put, the Bank is required to repay the advance on that date without penalty. The Bank added $8 million in long-term advances as part of the two acquisitions during the year ended December 31, 2015.

Short-term and long-term FHLB advances are secured by a blanket pledge of residential mortgage loans totaling $276.9 million and $237.8 million at year end 2016 and 2015. Based on this collateral, the Bank is eligible to borrow an additional $144.0 million at year end 2016. Each advance is subject to a prepayment penalty if paid prior to its maturity date.

Scheduled payments of long-term FHLB advances are as follows:

Maturing in:
2017		8,158
2018		1,008
2019		931
2020		860
2021		792
Thereafter		1,127
TOTAL	$	12,876

The Company added a special purpose entity to hold $2.1 million in Trust Preferred Debenture as part of the Tri-State acquisition. The debt has a floating rate that is determined quarterly based on the three-month LIBOR. At December 31, 2016, the interest rate was 2.7%. These securities can be redeemed at any quarter-end. Final maturity of the Trust Preferred Debenture is December 15, 2036. The Company has the $2.2 million note payable recorded in the long-term borrowings section of the Consolidated Balance Sheets.