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Repurchase Agreements
 12 Months Ended
Dec. 31, 2014
Disclosure of Repurchase Agreements [Abstract]  
Repurchase Agreements

Note 9 – Repurchase Agreements

 

Securities sold under agreements to repurchase are advances to the Bank by customers or another bank. These agreements are direct obligations of the Bank and are secured by securities held in safekeeping at a correspondent bank. Repurchase agreements with Bank customers mature daily. Information regarding repurchase agreements follows:

 

(Dollars in thousands)      
    2014    2013 
           
Outstanding balance at December 31  $26,743   $26,033 
Average interest rate at December 31   0.19%   0.22%
Average balance during the year  $22,594   $19,456 
Average interest rate during the year   0.20%   0.23%
Maximum month end balance during the year  $28,719   $26,995