ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

3 Months Ended

Sep. 30, 2014

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

NOTE 15 – ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

The following is a summary of the advances from the FHLB:
		September 30,		December 31,
		2014		2013
		(Dollars in thousands)
	Fixed-rate advances from FHLB, with a weighted-
	average interest rate of 1.17% (December 31, 2013 - 1.07%)	$	325,000	$	300,000

Advances from FHLB mature as follows:
		September 30,
		2014
		(In thousands)
	Over one year to three years		300,000
	Over three years		25,000
	Total	$	325,000

As of September 30, 2014, the Corporation had additional capacity of approximately $371.8million on this credit facility based on collateral pledged at the FHLB, including a haircut reflecting the perceived risk associated with holding the collateral.