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Securities Sold Under Agreement to Repurchase
 12 Months Ended
Dec. 31, 2012
Deposits, Securities Sold Under Agreement to Repurchase, Federal Home Loan Bank Advances and Minimum Regulatory Capital Requirements [Abstract]  
Securities Sold Under Agreement to Repurchase

Note 8— Securities Sold Under Agreement to Repurchase

The Bank’s policy requires qualifying securities to be used as collateral for the underlying repurchase agreements. As of December 31, 2012 and 2011 securities with a book value of $69.0 million and $61.6 million, respectively, were pledged to secure the repurchase agreements. The table below presents the daily securities sold under agreement to repurchase and the term repurchase agreements.

 

 

                                         
    Daily Securities Sold Under Agreement to Repurchase  
    Amount     Weighted     Maximum Amount     Approximate     Approximate  
    Outstanding     Average     Borrowings     Average     Weighted Average  
    at End     Rate End     Outstanding     Outstanding in     Interest Rate  
    of Period (000’s)     of Period     Month End (000’s)     Period (000’s)     For the Period  

2012

   $ 35,173       0.10 %    $ 41,876     $ 38,725       0.18 % 

2011

   $ 38,209       0.15 %    $ 42,154     $ 36,910       0.30 % 

2010

   $ 37,191       0.36 %    $ 37,501     $ 34,046       0.36 % 
   
    Term CD’s Sold Under Agreement to Repurchase  
    Amount     Weighted     Maximum Amount     Approximate     Approximate  
    Outstanding     Average     Borrowings     Average     Weighted Average  
    at End     Rate End     Outstanding     Outstanding in     Interest Rate  
    of Period (000’s)     of Period     Month End (000’s)     Period (000’s)     For the Period  

2012

   $ 16,139       1.25 %    $ 16,139     $ 14,184       1.22 % 

2011

   $ 14,231       1.28 %    $ 15,095     $ 14,606       1.25 % 

2010

   $ 14,050       1.28 %    $ 14,050     $ 12,493       1.24 %