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Short-term Borrowings (Tables)
12 Months Ended
Dec. 31, 2012
Summary of Short-Term Borrowings

Short-term borrowings at December 31 were as follows:

 

    2012     2011     2010  
    Ending
Balance
    Average
Balance
    Average
Rate
    Ending
Balance
    Average
Balance
    Average
Rate
    Ending
Balance
    Average
Balance
    Average
Rate
 
    (dollars in thousands)  

Federal funds purchased

  $ 34,000      $ 47,727        0.27   $ 75,300      $ 15,642        0.26   $ 12,800      $ 40,322        0.26

Borrowings from FHLB

    178,100        214,703        0.25        84,000        7,537        0.21        0        277,329        0.39   

Securities sold under agreements to repurchase

    144,127        139,766        0.28        153,477        155,551        0.43        170,563        165,945        0.47   

Treasury, tax and loan note option

    0        0        0.00        0        4,134        0.00        4,498        4,482        0.00   
 

 

 

   

 

 

     

 

 

   

 

 

     

 

 

   

 

 

   

Total

  $ 356,227      $ 402,196        0.27      $ 312,777      $ 182,864        0.40      $ 187,861      $ 488,078        0.40   
 

 

 

   

 

 

     

 

 

   

 

 

     

 

 

   

 

 

   

Maximum total at any month-end

  $ 486,144          $ 312,777          $ 1,000,753       
 

 

 

       

 

 

       

 

 

     

Weighted average rate at year-end

        0.25         0.28         0.43
Interest Expense on Short-Term Borrowings

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

 

     2012      2011      2010  
     (dollars in thousands)  

Federal funds purchased

   $ 128       $ 41       $ 105   

Borrowings from FHLB

     545         16         1,069   

Securities sold under agreements to repurchase

     397         671         774   
  

 

 

    

 

 

    

 

 

 

Total interest on short-term borrowings

   $ 1,070       $ 728       $ 1,948