NOTE 14. TERM DEBT

The Bank had outstanding secured advances from the FHLB at December 31, 2013 and 2012 of $75.0 million and $125.0 million, respectively.

Future contractual maturities of FHLB term advances at December 31, 2013 are as follows:


(Dollars in thousands)
Year	Amount
2014	$	75,000
Thereafter		0

Total FHLB advances	$	75,000

The maximum amount outstanding from the FHLB under term advances at any month end during 2013 and 2012 was $135.0 million and $125.0 million, respectively. The average balance outstanding on FHLB term advances during 2013 and 2012 was $109.7 million and $110.4 million, respectively. The weighted average interest rates on the borrowings at December 31, 2013 and 2012, was 0.23% and 0.39%, respectively.

The FHLB borrowings are secured by an investment in FHLB stock, certain real estate mortgage loans which have been specifically pledged to the FHLB pursuant to their collateral requirements, and securities held in the Bank’s investment securities portfolio. As of December 31, 2013, based upon the level of FHLB advances, the Company was required to hold an investment in FHLB stock of $4.5 million. Furthermore, the Company has pledged $251.7 million of its commercial and real estate mortgage loans, and has borrowed $75.0 million against the pledged loans. As of December 31, 2013, the Company held $16.4 million in securities with the FHLB for pledging purposes. All of the securities pledged to the FHLB were unused as collateral as of December 31, 2013.