FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES

12 Months Ended

Dec. 31, 2011

FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES [Abstract]

FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES

(9)           FEDERAL HOME LOAN BANK TERM ADVANCES AND OVERNIGHT ADVANCES

The following is a summary of Federal Home Loan Bank fixed rate advances at December 31, 2011 and 2010:

2011
	Amount	Weighted-Average Rate			Maturity Date	Call Date
$	10,000.000		4.77	%	July 27, 2012	-
	10,000,000		4.60	%	December 22,2016	-
	4,196,658		3.84	%	October 20,2014	January 19, 2012
	4,196,658		3.90	%	October 19, 2017	January 19, 2012
	3,147,495		4.43	%	August 16,2012	-
	3,147,495		2.91	%	December 4, 2017	March 4, 2012
	2,098,330		3.05	%	January 2, 2018	March 31, 2012
	1,049,165		2.88	%	April 13, 2012	-
	1,049,165		2.54		May 18, 2012	-
	1,049,165		2.95	%	May 20, 2013	-
	1,049,165		3.20	%	June 18,2014	-
	786,874		2.12	%	October 2, 2012	-
	786,874		2.62	%	October 2, 2013	-
	786,874		3.05	%	October 2, 2014	-
$	43,343,918		4.03	%

2010
	Amount	Weighted-Average Rate			Maturity Date	Call Date
$	10,000.000		4.77	%	July 27, 2012	-
	10,000,000		4.60	%	December 22, 2016	December 22, 2011
$	20,000,000		4.69	%

Scheduled maturities of Federal Home Loan Bank advances at December 31, 2011, are summarized as follows:

Year
2012	$	16,032,698
2013		1,836,038
2014		6,032,698
2015		-
2016		10,000,000
2017 and  thereafter		9,442,484
Total	$	43,343,918

Each advance is payable at its maturity date, with a prepayment penalty for term advances.  The advances were collateralized by $112,956,988 and $97,036,042 of first mortgage loans under a blanket lien arrangement at December 31, 2011 and 2010, respectively.  Based on this collateral the Corporation's holdings of FHLB stock, the Corporation is eligible to borrow up to a total of $69,805,223 at year-end 2011.