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Securities Sold Under Agreement to Repurchase
 12 Months Ended
Dec. 31, 2013
Banking And Thrift [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, 2013 and 2012 securities with a book value of $74.7 million and $69.0 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. It does not include the Bank’s Federal Funds purchased.

 

    

Daily Securities Sold Under Agreement to Repurchase

  
     Amount
Outstanding
at End
of Period (000’s)		      Weighted
Average
Rate End
of Period		     Maximum
Amount
Borrowings
Outstanding
Month End (000’s)		      Approximate
Average
Outstanding in
Period (000’s)		      Approximate
Weighted Average
Interest Rate
For the Period		  

2013

    $ 38,503         0.08 %    $ 48,366       $ 38,859         0.09 % 

2012

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

2011

    $ 38,209         0.15 %    $ 42,154       $ 36,910         0.30 % 
            Term CD’s Sold Under Agreement to Repurchase         
     Amount
Outstanding
at End
of Period (000’s)		      Weighted
Average
Rate End
of Period		     Maximum
Amount
Borrowings
Outstanding
Month End (000’s)		      Approximate
Average
Outstanding in
Period (000’s)		      Approximate
Weighted Average
Interest Rate
For the Period		  

2013

    $ 17,253         1.25 %    $ 17,291       $ 17,095         1.25 % 

2012

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

2011

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