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FHLB Advances
 12 Months Ended
Dec. 31, 2013
FHLB Advances [Abstract]  
FHLB ADVANCES

 

NOTE 10 –FHLB ADVANCES 

 

Fixed Rate Advances from the FHLB were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rate

 

 

December 31, 2013

 

 

December 31, 2012

Fixed Rate Advances

 

 

 

 

 

 

 

Maturities:

 

 

 

 

 

 

 

January 2014
3.12% 

 

$
5,000 

 

$
5,000 

May 2014
3.06% 

 

 
5,000 

 

 
5,000 

Total

 

 

$
10,000 

 

$
10,000 

 

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

 

In January 2014, a $5,000 fixed rated advance matured and was replaced with a $2,500 advance with a 12 month term with a fixed rate of .35% and a $2,500 advance with a 3 month term with a fixed rate of .20% 

 

 

 

 

 

 

 

 

 

The advances were collateralized as follows:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

December 31, 2012

 

 

 

 

 

 

Single-family mortgage loans

$
14,940 

 

$
9,917 

Multi-family mortgage loans

 
4,890 

 

 
4,968 

Commercial real estate loans

 
3,339 

 

 
1,185 

Securities

 
2,024 

 

 
4,707 

Cash

 
3,300 

 

 
3,300 

Total

$
28,493 

 

$
24,077 

 

 

Based on the collateral pledged to FHLB and CFBank’s holdings of FHLB stock, CFBank was eligible to borrow up to a total of $19,404 from the FHLB at December 31, 2013.  As of December 31, 2013, due to credit restrictions imposed by the FHLB due to the CFBank order, any advances were limited to terms of no longer than one year. Effective January 24, 2014, as a result of the CFBank Order being lifted, the FHLB notified the bank that term restrictions on the advances have been lifted.

 

All payments due over the next five years are due in 2014.