XML 47 R16.htm IDEA: XBRL DOCUMENT v3.19.3
Advances from the Federal Home Loan Bank
 12 Months Ended
Jun. 30, 2019
Federal Home Loan Banks [Abstract]  
ADVANCES FROM THE FEDERAL HOME LOAN BANK

NOTE G - ADVANCES FROM THE FEDERAL HOME LOAN BANK

 

Advances from the Federal Home Loan Bank, collateralized at June 30, 2019 and 2018 by pledges of certain residential mortgage loans totaling $86.8 million and $64.7 million, respectively, and the Banks’ investment in Federal Home Loan Bank stock, are summarized as follows:

 

Maturing year ending June 30    
(in thousands)    
2020  $66,189 
2021   142 
2022   107 
2023   79 
2024   59 
2025   43 
2026   31 
2027-2032   53 
   $66,703 

 

At June 30, 2019 interest rates for advances were fixed ranging from 2.11% to 2.41%, with a weighted-average interest rate of 2.39%.

 

At June 30, 2018 interest rates for advances were fixed ranging from 1.57% to 2.30%, with a weighted-average interest rate of 2.03%.

 

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 had additional borrowing capacity of $63.1 million as of June 30, 2019. In addition, we have the ability to borrow from the Federal Reserve Bank Discount Window. At June 30, 2019, based on home equity loans and share loans we had pledged collateral which would enable us to borrow up to $5.9 million.