v3.3.1.900

Other Borrowings and Notes Payable

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Other Borrowings and Notes Payable

OTHER BORROWINGS AND NOTES PAYABLE

A summary of other borrowings is as follows:

	December 31,
(in thousands)	2015				2014
Securities sold under repurchase agreements	$	270,326			$	230,373
Secured borrowings	—				3,810
Total	$	270,326			$	234,183
Average balance during the year	$	195,328			$	184,964
Maximum balance outstanding at any month-end	270,326				234,183
Average interest rate during the year	0.22		%		0.32		%
Average interest rate at December 31	0.16		%		0.30		%

Federal Reserve line

The Bank also has a line with the Federal Reserve Bank of St. Louis which provides additional liquidity to the Company. As of December 31, 2015, $815.6 million was available under this line. This line is secured by a pledge of certain eligible loans aggregating $1.1 billion. There were no amounts drawn on the Federal Reserve line of credit as of December 31, 2015.

Term Loan

On November 6, 2012, the Company entered into a $12.0 million unsecured term loan agreement ("Term Loan") with another bank with the proceeds being used to redeem the Company's preferred stock held by the U.S. Treasury. The Term Loan was paid off on November 6, 2015, the maturity date of the loan. A summary of the Term Loan is as follows:

	December 31,
(in thousands)	2015				2014
Term Loan	$	—			$	5,700
Average balance during the year	$	4,509			$	6,464
Maximum balance outstanding at any month-end	5,700				6,900
Weighted average interest rate during the year	3.01		%		2.99		%
Average interest rate at December 31	—		%		2.94		%

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- References

No definition available.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20,22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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