Federal Home Loan Bank Advances (Notes)

12 Months Ended

Dec. 31, 2015

Federal Home Loan Bank Advances [Abstract]

Federal Home Loan Bank Advances, Disclosure [Text Block]

Federal Home Loan Bank Advances and Short-term Borrowings

The following table presents the terms of all FHLB long-term advances as of December 31, 2015 and 2014.



		December 31, 2015					December 31, 2014
Maturity		Interest	Effective				Interest		Effective
Date	Variable/Fixed	Rate	Rate ⁽¹⁾	Balance			Rate		Rate ⁽¹⁾		Balance
1/29/2018	Fixed ⁽²⁾	2.70%	2.70%	$	25,000		2.70	%	2.70	%	$	25,000
12/23/2019	Variable	0.86%	2.83%	25,000			0.54	%	3.94	%	25,000
6/22/2020	Variable	0.88%	3.02%	25,000			0.56	%	2.40	%	25,000
9/21/2020	Variable	0.88%	4.44%	30,000			0.56	%	2.48	%	30,000
				105,000							105,000
Discount for modification				(6,615		)					(8,112		)
Total FHLB advances, net of discount				$	98,385						$	96,888


(1)	The effective interest rate for the variable rate advances includes the effects of the discount fee amortization and interest rate swaps.


(2)	Callable quarterly.

Three of the FHLB advances totaling $80,000 were modified on December 21, 2012 to extend their terms and to convert the borrowings to a variable rate that is tied to three-month LIBOR. In connection with these modifications, the Company paid a prepayment fee of $11,152, which is being amortized and recognized as interest expense over the remaining terms of the advances. For the years ended December 31, 2015, 2014 and 2013, the Company amortized $1,497, $1,496 and $1,502, respectively, of interest expense related to the discount. Interest is payable quarterly on the FHLB advances. The Company also has an interest rate swap contract that effectively converts the $30,000 variable rate advance to a fixed rate advance. See Note 10 for additional information on the interest rate swaps.

Short-term borrowings consist of FHLB overnight advances. The balances outstanding as of December 31, 2015 and 2014 were $19,000 and $66,000, respectively.

The FHLB advances are collateralized by FHLB stock and real estate loans, as required by the FHLB's collateral policy. West Bank had additional borrowing capacity of approximately $200,000 at FHLB as of December 31, 2015.

As of December 31, 2015, West Bank had arrangements to borrow $67,000 in unsecured federal funds lines of credit at correspondent banks that are available under the correspondent banks' normal terms. The lines have no stated expiration date. As of December 31, 2015, there were no amounts outstanding under these arrangements.