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Borrowings

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Borrowings

Note 13 – Borrowings

		December 31				December 31
		2014				2013
Federal Home Loan Bank advances, variable and fixed rates ranging from 0.32% to 7.53%, due at various dates through November 15, 2024		$	116,473			$	75,050
Securities sold under agreements to repurchase			139,725				140,246
Federal funds purchased			95,000				41,000
Total borrowings		$	351,198			$	256,296

The Federal Home Loan Bank advances are secured by first and second mortgage loans and mortgage warehouse loans totaling approximately $354.2 million. Advances are subject to restrictions or penalties in the event of prepayment.

Securities sold under agreements to repurchase consist of obligations of the Bank to other parties. The obligations are secured by U.S. agency and mortgage-backed securities and such collateral is held in safekeeping by third parties. The maximum amount of outstanding agreements at any month end during 2014 and 2013 totaled $144.3 million and $141.4 million and the daily average of such agreements totaled $140.9 million and $137.6 million. The agreements at December 31, 2014, mature at various dates through September 13, 2020.

At December 31, 2014, the Bank has available approximately $301.4 million in credit lines with various money center banks, including the FHLB.

Contractual maturities in years ending December 31:

2015		$	214,340
2016			27,432
2017			47,539
2018			1,111
2019			50,293
Thereafter			10,483
		$	351,198

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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 SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20, 22

-Article 5



Reference 3: 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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