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Federal Home Loan Bank Advances

6 Months Ended

Jun. 30, 2021

Federal Home Loan Bank Advances [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

NOTE 11 – FEDERAL HOME LOAN BANK ADVANCES

The Company’s FHLB advances were secured by $147.5 million in mortgage loans at June 30, 2021. Advances, at interest rates from 2.88 to 2.93 percent, are subject to restrictions or penalties in the event of prepayment. Aggregate annual maturities of FHLB advances at June 30, 2021 were:

($ in thousands)		Debt
2022			3,000
2023			2,500
Total		$	5,500

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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.

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