LONG-TERM FEDERAL HOME LOAN BANK BORROWINGS

12 Months Ended

Dec. 31, 2011

LONG-TERM FEDERAL HOME LOAN BANK BORROWINGS [Abstract]

LONG-TERM FEDERAL HOME LOAN BANK BORROWINGS

(11) LONG-TERM FEDERAL HOME LOAN BANK BORROWINGS

The Bank has entered into a blanket floating lien security agreement with the FHLB of Dallas.  Under the terms of this agreement, the Bank is required to maintain sufficient collateral to secure borrowings in an aggregate amount of the lesser of 75% of the book value (i.e., unpaid principal balance) of the Bank's eligible mortgage loans pledged as collateral or 35% of the Bank's assets.  At December 31, 2011, there were no call features on long-term FHLB borrowings.

At December 31, 2011, the FHLB fixed-term advances were repayable as follows:

Final due date	Interest rate		Amount
			(In thousands)
2015	4.69%-5.06%	$	3,500
Thereafter	4.08%		30,000
Total		$	33,500