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Federal Home Loan Bank Advances

6 Months Ended

Jun. 30, 2022

Disclosure Text Block [Abstract]

FEDERAL HOME LOAN BANK ADVANCES

NOTE 10 – FEDERAL HOME LOAN BANK ADVANCES

The Company’s FHLB advances were secured by $174.2 million in mortgage loans at June 30, 2022. All advances at June 30, 2022 had a 90 day maturity and a variable interest rate. Aggregate annual maturities of FHLB advances at June 30, 2022 were:

($ in thousands)		Debt
2022		$	25,000
Total		$	25,000

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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

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-Publisher FASB
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-Topic 942
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-Publisher FASB
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