FEDERAL HOME LOAN BANK ADVANCES

12 Months Ended

Dec. 31, 2016

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES

NOTE 10 - FEDERAL HOME LOAN BANK ADVANCES

At year-end, advances from the Federal Home Loan Bank were as follows (in thousands):

	2016		2015
Long Term Advances
Maturities range from June 2017 through March 2030, fixed rates from 1.00% to 6.86%, averaging 1.75% in 2016 and 1.77% in 2015	$	92,500	$	87,833

Advances are paid either on a monthly basis or at maturity.  All advances require a prepayment penalty, and are secured by the Federal Home Loan Bank stock and substantially all first-mortgage residential, multi-family and farm real estate loans.

Scheduled principal payments due on advances during the years subsequent to December 31, 2016 are as follows

(in thousands):

2017	$	15,656
2018		17,691
2019		12,433
2020		19,275
2021		7,401
Thereafter		20,044
	$	92,500