ADVANCES FROM FEDERAL HOME LOAN BANK

12 Months Ended

Dec. 31, 2013

(10)	ADVANCES FROM FEDERAL HOME LOAN BANK

At December 31, 2013 and 2012, advances from the FHLB were as follows:


	2013					2012
	Weighted					Weighted
	Average					Average
(Dollars in thousands)	Rate			Amount		Rate			Amount
FHLB advances		0.50	%	$	5,500		3.63	%	$	5,100

At December 31, 2013, advances from the FHLB totaling $5.5 million were variable rate advances, adjusting daily, with maturity dates in June 2014.

The advances are secured under a blanket collateral agreement. At December 31, 2013, the carrying value of residential mortgage loans and a mutual fund investment pledged as security for the advances was $74.4 million and $1.6 million, respectively.

- 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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