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Short-term Borrowings
 6 Months Ended
Jun. 30, 2012
Short-term Debt [Abstract]  
Short-term Borrowings

Note 6 – Short-term Borrowings

 

As of June 30, 2012, the Company has established lines of credit aggregating $60.0 million. At June 30, 2012, the outstanding borrowings under these credit lines were $25.3 million at a weighted average interest rate of 1.36%.

 

The weighted average daily amounts of borrowings outstanding under the Company’s credit lines and the weighted average interest rates on those amounts were as follows:

  

   ($ In Thousands) 
   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2012   2011   2012   2011 
                 
Average Daily Amounts Outstanding  $24,635   $19,548   $24,102   $18,426 
Weighted Average Interest Rates   1.38%   1.59%   1.35%   1.59%

 

 

The maturity dates for the $25.3 million outstanding as of June 30, 2012 are all in July 2012 and are extendable at the discretion of the Company.

 

Interest rates for short-term borrowings under the lines of credit are below the prime rate with no requirement for compensating balances.