SECURED BORROWINGS AND COLLATERAL

9 Months Ended

Sep. 30, 2016

Secured Borrowings and Collateral

Secured Borrowings and Collateral

(7)Secured Borrowings and Collateral

Federal Home Loan Bank advances

At September 30, 2016 all Federal Home Loan Bank of Boston (“FHLB”) advances were secured by a blanket security agreement on qualified collateral, principally first mortgage loans on owner-occupied residential property in the amount of $76.3 million, commercial real estate loans in the amount of $24.2 million and mortgage-backed securities with a fair value of $18.6 million.