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FHLB Advances And Other Debt | 12 Months Ended
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Dec. 31, 2019
FHLB Advances And Other Debt [Abstract] |
FHLB Advances And Other Debt | ﻿ NOTE 10 –FHLB ADVANCES AND OTHER DEBT FHLB advances and other debt were as follows:
﻿ |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |
﻿ | Weighted |  |  |  |
﻿ | Average Rate |  | December 31, 2019 |  | December 31, 2018
﻿FHLB fixed rate advances |  |  |  |  |  |  |
﻿Maturities: |  |  |  |  |  |  |
﻿2019 | - |  | $ | - |  | $ | 3,500
﻿2020 | 1.98% |  |  | 4,500 |  |  | 4,500
﻿2021 | 2.32% |  |  | 4,000 |  |  | 4,000
﻿2022 | 2.05% |  |  | 1,500 |  |  | 1,500
﻿2024 | 1.90% |  |  | 6,500 |  |  | -
﻿Total FHLB fixed rate advances |  |  |  | 16,500 |  |  | 13,500
﻿ |  |  |  |  |  |  |
﻿Variable rate other debt: |  |  |  |  |  |  |
﻿Holding Company credit facility | 5.50% |  |  | 5,000 |  |  | 6,000
﻿Warehouse facility | 4.00% |  |  | 7,517 |  |  | -
﻿Total variable rate other debt |  |  |  | 12,517 |  |  | 6,000
﻿Total |  |  | $ | 29,017 |  | $ | 19,500
﻿ Each FHLB advance is payable at its maturity date, with a prepayment penalty. The advances were collateralized as follows:
﻿ |  |  |  |  |
﻿ |  |  |  |  |
﻿ | December 31, 2019 |  | December 31, 2018
﻿Single-family mortgage loans | $ | 79,144 |  | $ | 70,140
﻿Multi-family mortgage loans |  | 21,258 |  |  | 18,841
﻿Commercial real estate loans (1-4 family) |  | 6,639 |  |  | 5,986
﻿Home equity lines of credit |  | 5,028 |  |  | 6,446
﻿Securities |  | 3,074 |  |  | 4,058
﻿Cash |  | 3,300 |  |  | 3,300
﻿Total | $ | 118,443 |  | $ | 108,771
﻿ Based on the collateral pledged to the FHLB, CFBank was eligible to borrow up to a total of $88,953 from the FHLB at December 31, 2019.
Payments due on FHLB advances and other debt over the next five years are as follows: |  |
﻿ | December 31, 2019
﻿2020 | $ | 12,517
﻿2021 |  | 4,500
﻿2022 |  | 5,500
﻿2023 |  | -
﻿2024 |  | 6,500
﻿ | $ | 29,017
﻿ The Holding Company had an existing credit facility with a third-party bank which was modified to a $10,000 revolving line-of-credit in December 2018. In December 2019, the $5,000 outstanding balance on the existing line-of-credit was converted to a $5,000 term loan with an additional $10,000 revolving line-of-credit. The new term loan requires quarterly principal payments of $125 plus accrued interest. Any remaining principal is due and payable on the maturity date, which is December 23, 2022. Loans under the credit facility bear interest at a rate equal to the Prime Rate plus 0.75%. The purpose of the credit facility is to provide an additional source of liquidity for the Holding Company and to provide funds for the Holding Company to downstream as additional capital to CFBank to support growth. As of December 31, 2019, the Company had an outstanding balance of $5,000 on the term loan and no outstanding balance on the revolving line-of-credit. At December 31, 2018, the credit facility had an outstanding balance of $6,000. At December 31, 2018, CFBank had $8,000 of availability in an unused line of credit at a commercial bank. During the third quarter of 2019, CFBank added an additional $15,000 line of credit at another commercial bank. There were no outstanding borrowings on these lines of credit at December 31, 2019 or December 31, 2018. If CFBank were to borrow on these lines of credit, interest would accrue daily at a variable rate based on the commercial bank’s cost of funds and current market returns. During the fourth quarter of 2019, CFBank entered into a $25,000 warehouse facility with a commercial bank. The warehouse facility is used to periodically fund loans held for sale from the close (funding) date until they are sold in the secondary market. Borrowings on the facility bear interest at the greater of 30 Day Libor plus 2.00% or 4.00% and are secured by the specific loans that were funded. At December 31, 2019, the warehouse facility had an outstanding balance of $7,517. There were no outstanding borrowings with the Federal Reserve Bank (the “FRB”) at December 31, 2019 or at December 31, 2018. Assets pledged as collateral with the FRB were as follows:
﻿ |  |  |  |  |
﻿ |  |  |  |  |
﻿ | 2019 |  | 2018
﻿Commercial loans | $ | 38,317 |  | $ | 29,578
﻿Commercial real estate loans |  | 77,733 |  |  | 76,332
﻿ | $ | 116,050 |  | $ | 105,910
﻿ Based on the collateral pledged, CFBank was eligible to borrow up to $65,614 from the FRB at year-end 2019.

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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://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 3: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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