NOTE 8: LONG-TERM DEBT

Long-term debt consisted of the following at December 31, 2011 and 2010:


(In thousands)	2011		2010
FHLB Note, 3.09%, final maturity February 2013, one time call
February 2011	$	0	$	5,000
FHLB Note, 3.69%, final maturity September 2014, callable quarterly		0		1,000
FHLB Note, 2.75%, final maturity April 2015		20,000		20,000
Federal Home Loan Bank Notes, payable through March 2029, Rates
ranging from 1.50% to 2.50%		2,562		5,139
Securities Sold Under Agreements to Repurchase, payable January 2013
through February 2015, rates ranging from 2.52% to 3.27%		0		7,500
	$	22,562	$	38,639

Interest expense on FHLB debt totaled $774 thousand and $863 thousand for 2011 and 2010 respectively. Interest on Securities Sold Under Agreements to Repurchase totaled $141 thousand and $1.97 million for 2011 and 2010, respectively.

During 2011, we pre-paid $16 million in long-term debt and incurred prepayment penalties totaling $861 thousand.

Contractual maturities and amortization of long-term debt subsequent to December 31, 2011, are as follows: 2012 - $78 thousand; 2013 - $81 thousand; 2014 - $82 million; 2015 - $20.08 million; 2016 - $85 million and $2.15 million thereafter.