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FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES | 12 Months Ended
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Dec. 31, 2017
Advances from Federal Home Loan Banks [Abstract] |
FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES | FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES The following is a summary of FHLBNY fixed rate advances at December 31, 2017 and 2016. The carrying amount includes the advance balance plus purchase accounting adjustments that are amortized over the term of the advance (in thousands):
2017
Amount |  | Rate |  | Maturity Date |  | Call Date
$ | 57,700 |  |  | 1.53 | % |  | January 2, 2018 |  | -
2,000 |  |  | 3.05 | % |  | January 2, 2018 |  | -
$ | 59,700 |  |  | 1.58 | % |  |  |  |
2016
Amount |  | Rate |  | Maturity Date |  | Call Date
$ | 4,041 |  |  | 3.90 | % |  | October 19, 2017 |  | January 19, 2017
3,031 |  |  | 2.91 | % |  | December 4, 2017 |  | March 3, 2017
2,021 |  |  | 3.05 | % |  | January 2, 2018 |  | April 1, 2017
$ | 9,093 |  |  | 3.38 | % |  |  |  |
Each advance is payable at its maturity date, with a prepayment penalty for term advances. The Corporation has pledged $149.7 million and $158.0 million of first mortgage loans under a blanket lien arrangement at December 31, 2017 and 2016, respectively, as collateral for theses advances and future borrowings. Based on this collateral and the Corporation’s holdings of FHLBNY stock, the Corporation is eligible to borrow up to a total of $73.5 million at year-end 2017. Payments over the next five years are as follows:
Year |  | Amount
2018 |  | $ | 59,700 |
2019 |  | — |
2020 |  | — |
2021 |  | — |
2022 |  | — |
Total |  | $ | 59,700 |

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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=75038535&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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