Quarterly report pursuant to Section 13 or 15(d)

OTHER BORROWED FUNDS

v2.4.0.6
OTHER BORROWED FUNDS
 6 Months Ended
Jun. 30, 2012
OTHER BORROWED FUNDS [Abstract]  
OTHER BORROWED FUNDS
NOTE 7 - OTHER BORROWED FUNDS
 
Other borrowed funds include advances from the Federal Home Loan Bank and borrowings from the Federal Reserve Bank.
 
Federal Home Loan Bank Advances
 
At period-end, advances from the Federal Home Loan Bank were as follows (dollars in thousands):
 
 
Principal Terms
 
Advance
Amount
 
 
Range of Maturities
 
Weighted Average
Interest Rate
 
 
 
 
 
 
 
 
 
June 30, 2012
 
 
 
 
 
 
 
Single maturity fixed rate advances
 
$
115,000
 
July 2012 to September 2016
 
 
1.69
%
Amortizable mortgage advances
 
 
12,489
 
March 2018 to July 2018
 
 
3.77
%
 
 
$
127,489
 
 
 
 
 
 
 
 
Principal Terms
 
Advance
Amount
 
 
Range of Maturities
 
Weighted Average
Interest Rate
 
 
 
 
 
 
 
 
 
December 31, 2011
 
 
 
 
 
 
 
Single maturity fixed rate advances
 
$
135,000
 
March 2012 to September 2016
 
 
1.79
%
Amortizable mortgage advances
 
 
13,603
 
March 2018 to July 2018
 
 
3.77
%
 
 
$
148,603
 
 
 
 
 
 
 
Each advance is subject to a prepayment penalty if paid prior to its maturity date. Fixed rate advances are payable at maturity. Amortizable mortgage advances are fixed rate advances with scheduled repayments based upon amortization to maturity. These advances were collateralized by residential and commercial real estate loans totaling $419.5 million under a blanket lien arrangement at June 30, 2012 and $389.8 million under a physical loan collateral delivery arrangement at December 31, 2011.
 
Scheduled repayments of FHLB advances as of June 30, 2012 were as follows (in thousands):
 
2012
 
$
15,667
 
2013
 
 
1,831
 
2014
 
 
21,884
 
2015
 
 
21,938
 
2016
 
 
61,996
 
Thereafter
 
 
4,173
 
 
 
$
127,489