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Borrowing Arrangements
9 Months Ended
Sep. 30, 2011
Borrowing Arrangements 
Borrowing Arrangements

 

 

Note 12.  Borrowing Arrangements

 

Federal Home Loan Bank Advances:  Advances from the Federal Home Loan Bank (FHLB) of San Francisco consisted of the following:

 

2011

 

Amount

 

Rate

 

Maturity Date

 

(Dollars in thousands)

 

 

 

 

 

 

 

$

4,000

 

3.59

%

February 12, 2013

 

—

 

 

 

 

 

4,000

 

 

 

 

 

 

 

 

 

 

 

—

 

Less short-term portion

 

 

 

$

 4,000

 

 

 

 

 

 

2010

 

Amount

 

Rate

 

Maturity Date

 

(Dollars in thousands)

 

 

 

 

 

 

 

$

 5,000

 

3.00

%

February 7, 2011

 

5,000

 

3.10

%

February 14, 2011

 

4,000

 

3.59

%

February 12, 2013

 

14,000

 

 

 

 

 

 

 

 

 

 

 

(10,000

)

Less short-term portion

 

 

 

$

 4,000

 

 

 

 

 

 

FHLB advances are secured by investment securities with amortized costs totaling $17,157,000 and $31,918,000, and market values totaling $17,803,000 and $33,214,000 at September 30, 2011 and December 31, 2010, respectively.  The Bank’s credit limit varies according to the amount and composition of the investment and loan portfolios pledged as collateral.

 

As of September 30, 2011 and December 31, 2010, the Company had no Federal funds purchased.