Comment Detail

Comment

Carrollton Bank is a member of the FHLB of Chicago. There are many reasons why we feel it is important to be a FHLB member bank. Over the years, we have utilized many of their advance products to supplement our liquidity position. At various times from 2012 thru 2019, we had outstanding advance amounts in excess of $100 million.These advances allowed us to continue to lend funds to our customers and to grow their businesses in the communites they serve. We also make extensive use of their letter of credit products; most importantly to collateralize our public fund deposits. In September 2022, we had $235 million in outstanding letters of credit. This product frees up other bank assets to allow us to lend out funds that otherwise would be invested in securties held to collaterize these public deposits. In addition, we utilize both the DPP and AHP Grant programs. Both of these products directly assist home mortgage and other housing customers in our community. The amount of DPP assistence our customers have recived from 2015 thru September 2022 is $2,975,146. In addition, we have sponsored five Affordable Housing Program applications which awarded a total of $3,090,000 in subsidy grants to various affordable housing developments in Central Illinois from 2017 to 2022. In conclusion, we feel that the FHLB organization is a very effective partner to Carrollton Bank which allows us to better serve our customers and the communities they serve.