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Short-Term Borrowings
 12 Months Ended
Dec. 31, 2012
Short-Term Borrowings [Abstract]  
SHORT-TERM BORROWINGS

(9) SHORT-TERM BORROWINGS

The following is a summary of short-term borrowings:

 

                 
    December 31,  
    2012     2011  
    (Dollars in thousands)  

Federal funds purchased

   $ 200     $ —    

Repurchase agreements

     4,371       8,274  
   

 

 

    

 

 

  

Total

   $ 4,571     $ 8,274  
   

 

 

    

 

 

  

Weighted average interest rate

     0.40 %      0.70 % 
   

 

 

    

 

 

  

End of period interest rate

     0.15 %      0.54 % 
   

 

 

    

 

 

  

Federal funds purchased represent borrowings of overnight funds from other financial institutions.

The Company enters into sales of securities to certain of its customers with simultaneous agreements to repurchase. These agreements represent an overnight borrowing of funds.