Advances from the Federal Home Loan Bank of Seattle

12 Months Ended

Dec. 31, 2012

Advances from Federal Home Loan Banks [Abstract]

Advances from the Federal Home Loan Bank of Seattle

Advances from the Federal Home Loan Bank of Seattle:

Panhandle State Bank, the banking subsidiary of Intermountain, has a credit line with FHLB of Seattle that allows it to borrow funds up to a percentage of its total assets, subject to collateralization requirements. Certain loans are used as collateral for these borrowings. At December 31, 2012 and December 31, 2011, this credit line represented a total borrowing capacity of $112.8 million and $100.3 million, of which $107.3 million and $69.3 million was available, respectively. The advances from FHLB at December 31, 2012 and December 31, 2011 are repayable as follows (in thousands):

	December 31, 2012				December 31, 2011
	Amount		Weighted Average Interest Rate		Amount		Weighted Average Interest Rate
Due within 1 year	$	—	—	%	$	25,000	2.06	%
Due in 1 to 2 years	4,000		3.11	%	—		—	%
Due in 2 to 3 years	—		—	%	4,000		3.11	%
	$	4,000	3.11	%	$	29,000	2.20	%

Only member institutions have access to funds from the Federal Home Loan Banks. As a condition of membership, Panhandle is required to hold FHLB stock. As of December 31, 2012 and December 31, 2011, Panhandle held $2.3 million of FHLB stock. During 2012, the FHLB of Seattle repurchased $41,000 of its stock from the Company, but have announced that they would not pay dividends until further notice. Each FHLB continues to monitor its capital and other relevant financial measures as a basis for determining a resumption of dividends at some later date.