Federal Home Loan Bank Borrowings

9 Months Ended

Mar. 31, 2015

Federal Home Loan Bank Borrowings

Federal Home Loan Bank Borrowings

Note 10.Federal Home Loan Bank Borrowings

FHLB borrowings are summarized as follows:

	Contractual Interest					Weighted Ave.
At June 30, 2014	Rate Range					Contractual Rate	Amount
Variable-rate FHLB advances due:
Within 1 year	0.300		-	0.300		0.300	$	7,942,372
1 to 2 years	0.320		-	0.320		0.320	3,041,651
Total variable-rate FHLB advances	0.300		-	0.320		0.306	10,984,023
Open line advances up to $10 million, due on demand	0.240		-	0.240		0.240	-
Less prepayment penalty fee							(216,208		)
Total FHLB borrowings	0.240	%	-	0.320	%	0.306%	$	10,767,815

The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to pledge certain real estate loans to secure advances from the FHLB of Topeka.  All stock in the FHLB of Topeka is pledged as additional collateral for these advances.  At March 31, 2015 and June 30, 2014, approximately $45.6 million and $31.7 million, respectively, of real estate loans collateralized the advances.  At March 31, 2015, the Company had the ability to borrow an additional $44.2 million in FHLB advances.