Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2016

Note 9 - Federal Home Loan Bank Advances

Long term debit consists of various loans from the Federal Home Loan Bank. Repayment structures vary, ranging from monthly installments, annual payments or upon maturity. Interest payments are due monthly. As of December 31, 2016, the Bank had two loans which were structured as single maturities with interest rates of 1.61% and 1.34%. Total borrowings were $10.0 million and $10.0 million for December 31, 2016 and 2015, respectively. The advances were secured by $17.9 and $20.0 million of mortgage loans as of December 31, 2016 and 2015, respectively under a blanket collateral agreement.

The advances are subject to pre-payment penalties and the provisions and conditions of the credit policy of the Federal Home Loan Bank. Future obligations of the advances are as follows at December 31, 2016:


	(In Thousands)
2017		5,000
2018		5,000

	$	10,000

The Bank had access to $58 million of unsecured borrowings through correspondent banks as of both December 31, 2016 and December 31, 2015. $71.8 million and $29.4 million at the end of the same time periods, respectively, were unpledged securities which could be sold or used as collateral. An additional $4.7 million at December 31, 2016, and $4.1 million at December 31, 2015, were available from the Federal Home Loan Bank based on current pledging, with up to $115.7 million and $118.5 million, respectively, available provided adequate collateral is pledged.