FHLB ADVANCES - LONG-TERM

12 Months Ended

Dec. 31, 2011

Federal Home Loan Bank Advances, Disclosure [Text Block]

10.

FHLB ADVANCES – LONG-TERM

The following table sets forth information concerning FHLB advances – long-term:

			Weighted-			Stated Interest
	Maturity Range		Average			Rate Range						At December 31,
Description	From	To	Interest Rate			From			To			2011		2010

Convertible	03/19/18	08/27/18		3.08	%		2.13	%		4.15	%	$	17,000,000	$	17,000,000
Fixed-rate	02/06/13	06/01/16		2.30			1.76			3.58			6,500,000		1,500,000
Fixed-rate amortizing	12/26/12	12/26/12		3.87			3.87			3.87			591,302		1,160,193
Mid-term repo fixed	01/03/12	01/11/13		1.71	%		1.41	%		2.09	%		7,000,000		8,766,000

	Total											$	31,091,302	$	28,426,193

Payments of FHLB borrowings are summarized as follows:

	December 31, 2011
			Weighted-
December 31,	Amount		Average Rate

2012	$	5,591,302		1.80	%
2013		3,500,000		2.73
2015		3,000,000		1.76
2016		2,000,000		2.17
2018		17,000,000		3.08
Total	$	31,091,302		2.62	%

As of December 31, 2011, the Company had one fixed-rate amortizing borrowing with the FHLB, which was originated in December 2002. The fixed-rate amortizing borrowing requires aggregate monthly payments of principal and interest of $49,000 for the remaining borrowing through December 2012. The Company also has three convertible select borrowings, three mid-term repo-fixed borrowings, and three fixed-rate borrowing. These borrowings were originated in 2008, 2009, 2010, and 2011 and mature from January 2012 through August 2018. All borrowings acquired in 2008, 2009, 2010, and 2011 require quarterly payments of interest only. The convertible select borrowings are convertible to variable-rate advances on specific dates at the discretion of the FHLB. Should the FHLB convert these advances, the Bank has the option of accepting the variable rate or repaying the advance without penalty.

All borrowings from the FHLB are secured by a blanket lien on qualified collateral, defined principally as investment securities and mortgage loans which are owned by the Bank free and clear of any liens or encum-brances. In addition, the Company has a maximum borrowing capacity of $110.8 million with the FHLB at December 31, 2011.

- Definition

The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances.

+ References

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Polonia Bancorp 10-K