6. Bank Call Loans

Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 2.0% at December 31, 2012 (2.0% at December 31, 2011). Details of the bank call loans are as follows.

Expressed in thousands of dollars, except percentages.


	2012			2011
Year-end balance	$	128,300		$	27,500
Weighted interest rate (at end of year)		1.23	%		1.25	%
Maximum balance (at any month end)	$	171,400		$	178,600
Average amount outstanding (during the year)	$	73,227		$	92,657
Average interest rate (during the year)		1.27	%		1.25	%

Interest expense for the year ended December 31, 2012 on bank call loans was $996,200 ($1.2 million in 2011 and $805,200 in 2010).