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Federal Home Loan Bank Advances (Notes)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Federal Home Loan Bank Advances

FEDERAL HOME LOAN BANK ADVANCES

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

	December 31,
	2018							2017
	Contractual Rate			Amount				Contractual Rate			Amount
Fixed-rate advance from FHLB, due within 1 year	2.51	%		$	20,000			1.34	%		$	60,000

The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to keep on hand, free of all other pledges, liens, and encumbrances, specifically identified whole first mortgages on improved residential property not more than 90-days delinquent to secure advances from the FHLB. All of the Bank’s FHLB common stock is pledged as additional collateral for these advances. At December 31, 2018, $46.9 million and $358.9 million of first mortgage and multi-family mortgage loans, respectively, collateralized potential advances. At December 31, 2018, we had the ability to borrow an additional $311.8 million under our credit facilities with the FHLB. The Company also had available pre-approved overnight federal funds borrowing. At December 31, 2018 and 2017, there was no outstanding balance on these lines.

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- References

No definition available.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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