This excerpt taken from the FFCH 10-K filed Dec 14, 2006.
NOTE 6. Federal Home Loan Bank Capital Stock
First Federal, as a member institution of the Federal Home Loan Bank (FHLB) of Atlanta, is required to own capital stock in the FHLB of Atlanta based generally upon a membership-based requirement and an activity based requirement. FHLB capital stock is pledged to secure FHLB advances. No ready market exists for this stock and it has no quoted market value. However, redemption of this stock has historically been at par value. The carrying value (which approximates fair value) of this stock was $26.0 million at September 30, 2006 and $25.2 million at September 30, 2005.
FIRST FINANCIAL HOLDINGS, INC.