XML 80 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 9 - Short-Term Borrowings
 12 Months Ended
Dec. 31, 2013
Disclosure Text Block [Abstract]  
Short-term Debt [Text Block]

9.

SHORT-TERM BORROWINGS


The year ended December 31 outstanding balances and related information of short-term borrowings, which includes securities sold under agreements to repurchase and short-term borrowings from other banks, are summarized as follows: 


(Dollar amounts in thousands)

 

2013

   

2012

   

2011

 
                         

Balance at year-end

  $ 10,809     $ 6,538     $ 7,392  

Average balance outstanding

    8,806       7,005       7,276  

Maximum month-end balance

    17,351       7,458       7,552  

Weighted-average rate at year-end

    1.44

%

    2.97

%

    3.14

%

Weighted-average rate during the year

    3.15

%

    3.73

%

    3.23

%


Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expense divided by the related average balance.


The Company maintains a $4.0 million line of credit at an adjustable rate, currently 3.67%, and a $3.0 million line of credit at an adjustable rate, currently at 4.00%. At December 31, 2013, 2012, and 2011, outstanding borrowings under these lines were $3.9 million, $4.9 million, and $5.7 million, respectively.