XML 95 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Borrowing Arrangements
 12 Months Ended
Dec. 31, 2013
Banking and Thrift [Abstract]  
Borrowing Arrangements
BORROWING ARRANGEMENTS
 

Federal Home Loan Bank Advances - Advances from the Federal Home Loan Bank (FHLB) of San Francisco consisted of the following (dollars in thousands):
December 31, 2013
 
December 31, 2012
 
 
 
 
Amount
 
Amount
 
Rate
 
Maturity Date
$
—

 
$
4,000

 
3.59%
 
February 12, 2013


 


 

 
 
—

 
4,000

 
 
 
 
—

 
4,000

 
Less short-term portion
 
 
$
—

 
$
—

 
Long-term debt
 
 


 
FHLB advances are secured by investment securities with amortized costs totaling $3,985,000 and $4,016,000 and market values totaling $4,084,000 and $4,225,000 at December 31, 2013 and 2012, respectively.  The Bank’s credit limit varies according to the amount and composition of the investment and loan portfolios pledged as collateral.
As of December 31, 2013 and 2012, the Company had no Federal funds purchased.

Lines of Credit - The Bank had unsecured lines of credit with its correspondent banks which, in the aggregate, amounted to $40,000,000 at December 31, 2013 and $40,000,000 at December 31, 2012, at interest rates which vary with market conditions.  The Bank also had a line of credit in the amount of $51,000 and $127,000 with the Federal Reserve Bank of San Francisco at December 31, 2013 and 2012, respectively which bears interest at the prevailing discount rate collateralized by investment securities with amortized costs totaling $48,000 and $115,000 and market values totaling $52,000 and $129,000, respectively.  At December 31, 2013 and 2012, the Bank had no outstanding short-term borrowings under these lines of credit.