FHLB Advances

12 Months Ended

Dec. 31, 2013

Federal Home Loan Bank Advances, Disclosure [Text Block]

Note 8:

FHLB Advances

The Company has outstanding FHLB advances of $31,793 and $40,686 as of December 31, 2013 and 2012, respectively. Advances, at interest rates from 0.39% to 4.57% at December 31, 2013, are subject to restrictions or penalties in the event of prepayment. The advances are collateralized by mortgage loans pledged and held by the Company and investment securities pledged by the Company and held in safekeeping with the FHLB. Mortgage loans pledged were approximately $96,195 and $0 as of December 31, 2013 and 2012, respectively, and the fair value of investment securities pledged was approximately $73,698 and $49,523 as of December 31, 2013 and 2012, respectively.

The FHLB advances are scheduled to mature according to the following schedule:

	Amount
2014	$	15,000
2015		11,000
2016		3,000
2017		—
Thereafter		3,000
		32,000
Deferred prepayment penalties on advance restructure		(207)
	$	31,793

- 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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