The Bank is a member of the Federal Home Loan Bank (“FHLB”) System. This change occurred simultaneously with the Conversion discussed above. At December 31, 2020, the remaining balance of PPP loans totaled $37.3 million. A majority of the Bank’s loan originations are made to existing customers. The mortgage loan documents used by the Bank conform to secondary market standards. After 20 days, the collector places a phone call to the borrower. At December 31, 2020, the Company had no specific allowances. Advances from the FHLB are secured by certain first mortgage loans. The Bank also uses retail repurchase agreements as a source of borrowings. xa0; Holding Company Regulation General. The statutory provision is commonly called the “Volcker Rule”. In addition, banks must have procedures to verify the identity of their customers. Congress is also considering legislation. Additionally, customers are increasingly forced to work remotely. xa0; 31 Risks Related To Our Business. We might increase the allowance because of changing economic conditions. xa0; Commercial business lending may expose the Company to increased lending risks. Commercial real estate lending is inherently riskier than residential mortgage lending. xa0; The Bank faces intense competition both in making loans and attracting deposits. xa0; 38