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FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES

12 Months Ended

Dec. 31, 2021

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

As of December 31, 2021, FHLBNY fixed rate term advances and overnight advances totaled $14.6 million. There were no FHLBNY fixed rate term advances and overnight advances as of December 31, 2020.

The following is a summary of FHLBNY fixed rate term advances and overnight advances as of December 31, 2021. The carrying amount includes the advance balance plus purchase accounting adjustments that are amortized over the term of the advance (in thousands):

2021
Amount						Rate						Maturity Date						Call Date
$	14,570					0.34		%				January 3, 2022						-
$	14,570					0.34		%

The Bank has pledged $204.2 million and $101.9 million of first mortgage loans under a blanket lien arrangement at December 31, 2021 and 2020, respectively, as collateral for future borrowings.  Based on this collateral and additional securities held, the Bank's unused borrowing capacity at the FHLBNY was $161.0 million at December 31, 2021.

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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.

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