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Long-term Debt | 12 Months Ended
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Dec. 31, 2015
Long-term debt: |
Long-term Debt Text Block | NOTE 11: LONG-TERM DEBT At December 31, 2015 and 2014, the composition of long-term debt is presented below.
|  |  | 2015 |  | 2014
|  |  |  |  |  | Weighted |  |  |  |  | Weighted
(Dollars in thousands) |  |  | Amount |  | Avg. Rate |  |  | Amount |  | Avg. Rate
FHLB advances, due 2018 |  | $ | — |  | — | % |  | $ | 5,000 |  | 3.59 | %
Subordinated debentures, due 2033 |  |  | 7,217 |  | 3.63 |  |  |  | 7,217 |  | 3.38 |
| Total long-term debt |  | $ | 7,217 |  | 3.63 | % |  | $ | 12,217 |  | 3.47 | %
The Bank had no FHLB advances with original maturities greater than one year at December 31, 2015 and $5.0 million at December 31, 2014. Certain qualifying residential mortgage loans with an aggregate carrying value of $31.9 million and $35.4 million at December 31, 2015 and 2014, respectively, were pledged to secure long-term FHLB advances. The Company formed Auburn National Bancorporation Capital Trust I, a wholly-owned statutory business trust, in 2003. The Trust issued $7.0 million of trust preferred securities that were sold to third parties. The proceeds from the sale of the trust preferred securities and trust common securities that we hold, were used to purchase subordinated debentures of $7.2 million from t he Company, which are presented as long-term debt in the consolidated balance sheets and qualify for inclusion in Tier 1 capital for regulatory capital purposes, subject to certain limitations. The debentures mature on December 31, 2033 and have been rede emable since December 31, 2008. The following is a schedule of contractual maturities of long-term debt:
(Dollars in thousands) |  | 2015 |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | Thereafter |  | Total
Subordinated debentures |  | — |  | — |  | — |  | — |  | — |  | 7,217 |  | 7,217
| Total long-term debt | $ | — |  | — |  | — |  | — |  | — |  | 7,217 |  | 7,217

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
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