Long Term Borrowings

12 Months Ended

Dec. 31, 2014

Note 8 – Long Term Borrowings

The Bank's total credit availability under the FHLB’s credit availability program was $153,070,000 and $162,110,000 at December 31, 2014 and 2013, respectively. The Bank is able to borrow up to 20% of total assets. There were no short-term borrowings with the FHLB at December 31, 2014 and 2013. Long-term advances outstanding were $115,000,000 at both December 31, 2014 and 2013. The maturities of these long-term advances at December 31, 2014 are as follows (dollars in thousands):

Rate		Amount		Maturity
1.81% to 1.83%		$	15,000		2016
2.43% to 4.05%			70,000		2017
2.58% to 3.43%			15,000		2018
	4.00%		15,000		2019
		$	115,000

The Bank's stock in the FHLB is pledged as security for the advances and under a blanket floating lien security agreement with the FHLB. The Bank is required to maintain as collateral for its advances, qualified loans in varying amounts depending on the loan type. Loans with an approximate fair value of $261,682,000 are pledged as collateral at December 31, 2014.