XML 99 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Federal Home Loan Bank Advances
 12 Months Ended
Dec. 31, 2012
Federal Home Loan Bank Advances

NOTE 10 – FEDERAL HOME LOAN BANK ADVANCES

At year end, long-term advances from the FHLB were as follows:

 

     Rate     December 31, 2012      December 31, 2011  

Maturing:

        

April 2012

      2.30 %    $ —         $ 5,000   

June 2012

      2.05 %      —           742   

January 2014

      3.12 %      5,000         5,000   

May 2014

      3.06 %      5,000         5,000   
    

 

 

     

 

 

  

Total

      $ 10,000       $ 15,742   
    

 

 

     

 

 

  

Each advance is payable at its maturity date, with a prepayment penalty for fixed-rate advances.

The advances were collateralized as follows:

 

     December  31,
2012		      December  31,
2011		  

Single-family mortgage loans

    $ 9,917       $ 11,141   

Multi-family mortgage loans

      4,968         4,222   

Commercial real estate loans

      1,185         3,384   

Securities

      4,707         9,336   

Cash

      3,300         800   
  

 

 

     

 

 

  

Total

    $ 24,077       $ 28,883   
  

 

 

     

 

 

  

Based on the collateral pledged to FHLB and CFBank’s holdings of FHLB stock, CFBank was eligible to borrow up to a total of $17,460 from the FHLB at year-end 2012. The decrease in commercial real estate loans pledged to FHLB was due to the credit quality of certain loans previously pledged, as well as principal repayments and payoffs. In April 2012, CFBank was notified by the FHLB that, due to regulatory considerations, CFBank is only eligible for future advances with a maximum maturity of 30 days.