NOTE G - ADVANCES FROM THE FEDERAL HOME LOAN BANK

Advances from the Federal Home Loan Bank, collateralized at June 30, 2013 and 2012 by pledges of certain residential mortgage loans totaling $31.6 million and $38.2 million, respectively, and the Banks’ investment in Federal Home Loan Bank stock, are summarized as follows:

Maturing year ended June 30, 2013
(in thousands)
2014	$	14,555
2015		2,366
2016		623
2017		431
2018		2,328
2019		3,249
2020		189
2021-2031		514
	$	24,255
Premium assigned to borrowings in CKF Bancorp acquisition, net of amortization		55
	$	24,310

At June 30, 2013 interest rates for advances were fixed ranging from 1.11% to 6.95%, with a weighted-average interest rate of 2.17%.

Maturing year ended June 30, 2012
(in thousands)
2013	$	9,810
2014		7,555
2015		2,366
2016		623
2017		431
2018		2,328
2019		3,249
2020-2030		703
	$	27,065

At June 30, 2012 interest rates for advances were fixed ranging from 1.11% to 6.95%, with a weighted-average interest rate of 2.27%.

Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. Based on collateral composed of first mortgage loans and the Company’s holdings of FHLB stock, the Company was eligible to borrow up to $110.9 million as of June 30, 2013.