NOTE G - ADVANCES FROM THE FEDERAL HOME LOAN BANK

Advances from the Federal Home Loan Bank, collateralized at June 30, 2017 and 2016 by pledges of certain residential mortgage loans totaling $65.3 million and $40.3 million, respectively, and the Banks’ investment in Federal Home Loan Bank stock, are summarized as follows:

Maturing year ended June 30, 2017
(in thousands)

2017	$	51,808
2018		3,249
2019		189
2020		142
2021		107
2022		79
2023		43
2024-2032		163
	$	55,780

At June 30, 2017 interest rates for advances were fixed ranging from 0.81% to 6.20%, with a weighted-average interest rate of 1.29%.

Maturing year ended June 30, 2016
(in thousands)

2016	$	26,931
2017		2,328
2018		3,249
2019		189
2020		142
2021		107
2022		79
2023-2032		186
	$	33,211

At June 30, 2016 interest rates for advances were fixed ranging from 0.43% to 6.35%, with a weighted-average interest rate of 0.93%.

Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. Based on collateral composed of first mortgage loans and the Company’s holdings of FHLB stock, the Company was eligible to borrow up to $71.9 million as of June 30, 2017.

At June 30, 2017, we had the ability to borrow a total $89.1 million from the FHLB, of which $55.8 million was outstanding. In addition, we have the ability to borrow from the Federal Reserve Bank Discount Window. At June 30, 2017, based on home equity loans we had pledged collateral which would enable us to borrow up to $5.0 million.